- Charles Hoskinson warns that Ethereum may not survive the next 10 to 15 years due to foundational issues and rising competition from other blockchains.
- He criticizes Ethereum’s protocols, governance, and reliance on Layer-2 solutions, suggesting these factors could lead to its decline.
Charles Hoskinson, the creator of the Cardano blockchain, has stirred the crypto community with bold claims about Ethereum’s future. In a recent AMA on his YouTube channel, Hoskinson expressed skepticism about Ethereum’s long-term survival, suggesting that it might not last beyond the next 10 to 15 years. He raised several concerns about Ethereum’s sustainability, arguing that the network faces existential threats both from within its ecosystem and from external competitors.
According to Hoskinson, Ethereum’s problems are deeply rooted in its foundational choices. One of his key criticisms revolves around Ethereum’s protocols, including its accounting model, virtual machine, and consensus mechanism. He believes these were “self-inflicted wounds,” as Ethereum’s founders ignored advice and proceeded with suboptimal decisions.
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Hoskinson also pointed out Ethereum’s reliance on Layer-2 solutions, which he claims are draining the network’s potential value. As these solutions gain traction, they could shift users away from Ethereum, he warned. Moreover, Hoskinson believes Ethereum faces increasing competition from other blockchain platforms like Solana and Sui, which are offering better performance and scalability.
Perhaps most strikingly, Hoskinson compared Ethereum to failed tech giants like MySpace and BlackBerry, suggesting that its success might ultimately become its downfall. He argues that new blockchain ecosystems are evolving faster and have more efficient underlying architectures, which could eventually leave Ethereum behind.
Furthermore, Hoskinson criticized Ethereum’s governance model, stating that it lacks a strong on-chain system for decision-making. This, he argues, prevents the platform from evolving in a way that addresses its foundational issues.
Despite these criticisms, Hoskinson acknowledged Ethereum’s early success and its role in revolutionizing the crypto space. However, his predictions highlight the volatility and rapid pace of change in the blockchain ecosystem. Whether or not Ethereum will survive the coming decade remains to be seen, but as Hoskinson warns, its future might be more uncertain than many realize.