Listen, do you remember when BlackBerry was at its peak? All business people had these phones with buttons—a symbol of status, security, and “successful success.” And then, bam— the iPhone and Android arrived, and BlackBerry was left in the past because it didn't have time to rebuild. The same thing happened with MySpace when Facebook appeared.
So, Charles Hoskinson, one of the founders of Ethereum and the creator of Cardano— says that the same fate awaits Ethereum. They say that in 10-15 years the platform will simply disappear, like BlackBerry or MySpace. Why? He sees several serious problems.
Firstly, Ethereum has become too complex and bloated. Much of what should work on its base is spent on second-level (L2) solutions. And instead of strengthening the ecosystem, they begin to “suck it out”, reducing the activity and value of the main network. Imagine that you have a large shopping center, but all the shops have moved into small pavilions nearby — and no one comes to you anymore.
Secondly, the technical architecture of Ethereum, according to Hoskinson, is outdated. His virtual machine, accounting system, and consensus mechanism can no longer compete with more recent blockchains like Solana or even Bitcoin DeFi.
And finally, Ethereum, according to him, has no effective governance. There are too many disagreements, everything is based on Vitalik Buterin and his “willpower”, and this is unsustainable in the long run. I remember how MySpace just couldn't agree on where to go next, and... that's it.
Add to this the fact that institutional players like Galaxy Digital and Paradigm are starting to merge ETH and move to Solana, and online activity is at a minimum. Yes, some investors still believe in growth, but overall the situation is not rosy.
The comparison with Blackberry and MySpace is not just a beautiful metaphor. This is a warning that even top projects may not “survive" if they don't adapt.
So, I have a question for you.:
Do you believe that Ethereum will transform after all and remain “in the game”, or is it really waiting for the fate of BlackBerry?
