Charles Hoskinson, the founder of Cardano and co-founder of Ethereum, sounds the alarm: according to him, Ethereum will not survive the next fifteen years. The reason? Questionable technological choices and flawed governance. A warning that shakes the cryptocurrency world and reignites the debate about the future of major blockchains.#EthereumFuture
In summary
Charles Hoskinson says Ethereum may disappear within 10 to 15 years.
He points out three major flaws in Ethereum: the accounting model, the virtual machine, and ineffective consensus.
He praised the technological strengths of Cardano, particularly the UTXO model and Hydra.
Bitcoin DeFi# is expected to outperform Ethereum.#BTCvsMarkets #
- Reasons for Ethereum's demise, according to Charles Hoskinson
Charles Hoskinson, the founder of Cardano, launched a scathing criticism of Ethereum, pointing out that the second largest blockchain in the cryptocurrency world may not survive the next fifteen years. During an "Ask Me Anything" session broadcast on April 23, he highlighted three major design flaws: a weak accounting model, an unsuitable virtual machine, and an unselected consensus.
According to Hoskinson, these technical decisions hinder Ethereum's ability to evolve. He also criticizes the addition of second-layer solutions and complex sharding mechanisms, which he considers 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 keep the network cohesive indefinitely by sheer willpower."
- Cardano as a reliable alternative?
The founder of Cardano also compared the paths of Ethereum and Cardano. He highlighted the technological choices of his blockchain: an 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 have made."
Charles Hoskinson expects that fast and stacked blockchains, along with the rise of Bitcoin in decentralized finance (DeFi), could quickly surpass Ethereum in terms of liquidity and user experience. He points to the danger 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 success, according to Charles Hoskinson. At a time when Ethereum is experiencing a 30% rise, and without a comprehensive overhaul of its architecture and governance, the blockchain technology may become outdated, like MySpace or Blackberry before it. A statement that reignites the debate about the future of decentralized cryptocurrencies.#CryptoMarketCapBackTo$3T #BinanceAlphaAlert
