#以太坊的未来 I believe that Hoskinson's criticisms have some basis, but Ethereum's ecological resilience still exists. While its Layer 2 solutions alleviate congestion, they lead to value dilution, and issues of economic models and governance centralization do exist. However, data from 2025 shows that Ethereum's daily active addresses reached 475,000, and institutions continue to increase their holdings (for example, net inflows into ETFs exceeded $2 billion in January), and upgrades like Proto-Danksharding are improving performance. In the long run, Ethereum's developer community, its dominance in DeFi/NFT, and network effects remain core advantages, but it needs to address issues of scalability and governance decentralization. In comparison, Bitcoin's safe-haven attributes and compliance processes (such as RWA) may offer more long-term certainty.