Projects without voices of doubt cannot go far.

Charles Hoskinson Warns: Ethereum May Not Survive in the Next Decade

Charles Hoskinson, founder of Cardano, recently raised serious doubts about the future of Ethereum during a recent "Ask Me Anything" (AMA) session.

As one of the co-founders of Ethereum, Charles Hoskinson bluntly stated that despite Ethereum's current leading total value locked (TVL), it may face the risk of extinction within 10-15 years.

He pointed out three structural problems with Ethereum: a flawed accounting model, problematic virtual machine, and a weak consensus mechanism. These fundamental issues are gradually undermining the foundation of this blockchain giant.

He also specifically criticized the direction of Ethereum Layer 2 solutions, comparing these second-layer scalability networks to "parasites," believing they not only fail to truly address Ethereum's scalability issues but also continuously siphon value away from the mainnet.

In his view, this development model will ultimately lead to a value competition within the ecosystem, making it increasingly difficult for Ethereum to maintain the coordinated operation of the entire network.

Hoskinson further likened Ethereum's situation to that of former tech giants Myspace and Blackberry, stating that these early innovators eventually collapsed due to competition and mismanagement, implying that Ethereum may face a similar fate.

Hoskinson's remarks have caused a stir in the crypto community, with supporters arguing that they accurately highlight the real challenges Ethereum faces. Layer 2 networks are diluting mainnet value, high gas fees continue to trouble users, and persistent regulatory uncertainty exists. More critically, compared to Bitcoin, Ethereum's popularity among institutional investors is significantly lower.

However, there are also many observers who oppose this view, pointing out that Ethereum's upcoming Pectra and Fusaka upgrades are expected to significantly improve network performance. Moreover, the recent rebound of ETH price from $1500 to a peak of $1815 seems to indicate that this established public chain still has vitality.

In summary, the current controversy is not only focused on Ethereum's future fate but also prompts the industry to rethink the fundamental logic of blockchain technology development. As the history of the internet shows, the ultimate winners are not specific technologies but the mindsets that can continually innovate amid change.

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