$ETH Reasons for the Decline of Ethereum, 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 world of cryptocurrencies may not survive the next fifteen years. During an 'Ask Me Anything' session that aired on April 23, he highlighted three major design flaws: a weak accounting model, an unsuitable virtual machine, and a non-selected consensus.

According to Hoskinson, these technical decisions hinder Ethereum's ability to evolve. He also criticizes the addition of layer two solutions and complex sharding mechanisms, which are considered ineffective: 'They have implemented a lot of strange things, but the consequences are starting to show.'

Charles Hoskinson believes that Ethereum's real weakness lies in its lack of strong on-chain governance. He believes that building an effective governance system would take five to seven years, which could significantly slow down any reforms. He warns: 'Vitalik will not be able to maintain the cohesion of the network indefinitely by the force of his will.'