Cardano Founder: Ethereum Will Not Last Long and Comparing It to Blackberry Is Not an Exaggeration

Charles Hoskinson expressed his pessimism about the future of Ethereum, predicting that it will lose its position within the next decade or decade and a half.

This came during a live Q&A session (AMA) he held yesterday, Wednesday.

Hoskinson said:

I don't believe that Ethereum will last more than 10 to 15 years; one could say that Ethereum is very much like Blackberry, which once dominated the smartphone market but became extinct after the rise of Apple's iPhone.

He pointed out three main reasons behind this negative assessment, the most prominent being that the Ethereum Foundation relies, in his opinion, on ineffective protocols and technical designs.

He criticized the accounting model used, the virtual machine, and the proof-of-stake consensus mechanism, describing them all as "wrong."

Hoskinson also criticized the Layer 2 solutions on Ethereum, considering them detrimental to the core network and not contributing to its strengthening.

He described them as "parasitic," a characterization echoed by Anatoly Yakovenko, co-founder of Solana.

He believes that these layers take over the main chain, weakening the viability of its existence.

Hoskinson continued by saying that Ethereum lacks an effective on-chain governance system, complicating the process of addressing the existing structural vulnerabilities.