Charles Hoskinson Predicts a Grim Future for Ethereum in the Next Ten Years

Charles Hoskinson, the co-founder of Ethereum and founder of Cardano, has raised doubts about Ethereum's survival over the next 10-15 years during a recent AMA session. He pointed out three critical flaws in the blockchain’s structure: its accounting model, virtual machine, and consensus model.

He criticized Ethereum's economic model and its reliance on Layer 2 solutions, which he believes are not solving the main scalability issues but instead diverting value away from Ethereum. He also suggested that users will eventually move to other platforms, particularly Bitcoin's DeFi ecosystem.

Despite Ethereum's struggles, there are some expectations for improvements through the upcoming Pectra and Fusaka upgrades, which aim to resolve the network’s congestion issues and enhance its scalability and usability.