Charles Hoskinson, founder of Cardano and co-founder of Ethereum $ETH, is sounding 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.
In short
Charles Hoskinson says that Ethereum $ETH may disappear in the next 10 to 15 years.
He points to three main 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.
He expects Bitcoin DeFi # to outperform Ethereum. #BTCvsMarkets #
- Reasons for Ethereum's demise, according to Charles Hoskinson
Charles Hoskinson, founder of Cardano, launched a scathing critique of Ethereum, pointing out that the second-largest blockchain in the cryptocurrency world may not withstand the next fifteen years. During the 'Ask Me Anything' session broadcast on April 23, he highlighted three major design flaws: a weak accounting model, an unsuitable virtual machine, and non-selected 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 in 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 any reforms. He warns: "Vitalik will not be able to maintain the network's cohesion indefinitely by sheer will."
- Is Cardano a reliable alternative?
The founder of Cardano also compared the paths of Ethereum and Cardano. He highlighted the technological options of his blockchain: a RISC-V based virtual machine, an extended UTXO model, scalability through Hydra, and the Midnight sidechain. He stated: "We have already made the right decisions that Ethereum should make."
Charles Hoskinson predicts that fast and stacked blockchains, along with the rise of Bitcoin in decentralized finance (DeFi), may 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, without a complete overhaul of its architecture and governance, the blockchain technology may become outdated, just like MySpace or Blackberry before. A statement that reignites the debate about the future of decentralized cryptocurrencies.
