Ethereum's days are numbered: Charles Hoskinson's bold 15-year prediction
Charles Hoskinson, founder of Cardano and co-founder of Ethereum, sounds the alarm: according to him, Ethereum will not withstand the next fifteen years. The reason? Dubious technological choices and flawed governance. A warning that shakes the cryptocurrency world and reignites the debate about the future of major blockchains.
In short
Charles Hoskinson states that Ethereum may disappear within 10 to 15 years.
He points to three main flaws in Ethereum: the accounting model, the virtual machine, and ineffective consensus.
He praised Cardano's strong technological points, especially the UTXO model and Hydra.
Bitcoin DeFi is expected to outperform Ethereum.
- Reasons for Ethereum's demise, according to Charles Hoskinson
Charles Hoskinson, the founder of Cardano, launched a scathing critique of Ethereum, pointing out that the second-largest blockchain in the cryptocurrency world may not survive the next fifteen years. During the "Ask Me Anything" session broadcast on April 23, he highlighted three major design flaws: a weak accounting model, an unsuitable virtual machine, and unselected consensus.
According to Hoskinson, these technical decisions hinder Ethereum's ability to evolve. He also criticizes the addition of complex layer two solutions and sharding mechanisms, which he deems ineffective: "They have implemented too many strange things, but the consequences are starting to show."
Charles Hoskinson sees Ethereum's real weakness as its lack of strong on-chain governance. He believes that building an effective governance system will take five to seven years, which could significantly slow down any reforms. He warns: "Vitalik will not be able to maintain the network's coherence indefinitely by sheer willpower."
- Is Cardano a reliable alternative?
Cardano's founder also compared the paths of Ethereum and Cardano. He highlighted the technological choices of his blockchain: a RISC-V based virtual machine, an extended UTXO model, and scalability through Hydra and the Midnight sidechain. He stated: "We have already made the right decisions that Ethereum should make."
Charles Hoskinson predicts that stacked and fast blockchains, along with the rise of Bitcoin in decentralized finance (DeFi), could quickly outperform Ethereum in terms of liquidity and user experience. He warns of the risk of a "hostile separation" between Ethereum's first layer and its scaling solutions.
Ethereum is a great project, but it is a victim of its own success, according to Charles Hoskinson. At a time when Ethereum is witnessing a 30% rise, without a comprehensive overhaul of its architecture and governance, the blockchain technology may become outdated, just like MySpace or BlackBerry did. A statement that reignites the debate about the future of decentralized cryptocurrencies.
