Founder of Cardano, Hoskinson, says that Ethereum would not last more than 10 to 15 years: here's why

The founder of #Cardano, Charles Hoskinson, raised significant doubts about the long-term viability of Ethereum, citing the numerous flaws in the ecosystem.

The three flaws of Ethereum

The Ethereum ecosystem is currently the second largest in the cryptocurrency universe, after Bitcoin, as evidenced by its network utility, institutional adoption, and developer support. However, Hoskinson argues that the long-term relevance of the network remains uncertain.

When asked what he would do differently if he were managing the Ethereum network, the founder of Cardano highlighted three disadvantages that hinder the viability of the smart contract network. First, he questioned the choice of protocol and consensus model of Ethereum, insisting that they were not suitable.

Next, Hoskinson noted that the adoption of layer 2 scaling solutions by Ethereum and the reduction of economics had negative impacts on the ecosystem. Currently operating with the Proof of Stake (POS) mechanism, Ethereum has the largest layer 2 networks built on it in the crypto universe, and Hoskinson considers the scalability solutions to be parasitic rather than symbiotic to its main network.

Finally, the founder of Cardano emphasized that Ethereum lacks a solid governance system. To provide context, the governance of the network is off-chain, not on-chain. The proposed models are deliberate and agreed upon in social forums coordinated by the main participants of the blockchain.

Meanwhile, the CEO of Input Output Global (IOG) emphasized that these crucial properties of the network would hinder Ethereum's adoption as the cryptocurrency landscape evolves. Additionally, he mentioned solutions to these setbacks.