During his last request for a request for a request, on April 23, the founder of Cardano, Charles Hoskinson, delivered a radical criticism of the long-term prospects of Ethereum, arguing that the second largest intelligent platform in the world is embarrassed by what he called three “self-inflicted injuries” and lacks governance to channels.
Ethereum faces a deadline of 15 years: founder of Cardano
Answering a question from the public – “If you run the Ethereum Foundation, what would you do differently?” – Hoskinson said that the project had chosen “the bad accounting model, the bad virtual machine and the bad consensual model”, a triad of design decisions which he now believes threaten the survival of Ethereum. “People have told them not to do it, they did it, and they arrived where they had to go,” he said, before warning that the fixes adopted so far “have put all these strange economics and superimposed on two things”, whose unintentional consequences are starting to bite.
Hoskinson, who co -founded Ethereum in 2014 before leaving Cardano two years later, insisted that a viable turnaround would require parallel parameters. “First of all, you must solve your technological problems,” he said, pointing to the implementation of Ethereum proof as something that the network “needs to wean.”
He suggested a passage to what he called a “design of telescoping protocol” such as Ouroboros -Leios – the next Cardano upgrade path – and urged Ethereum developers to examine the “SWE object model”, as well as the Narwhal and Tusk style consensus, and a passage to the set of RISC -V. “Something like RISC-V with intention, with an object model like SWE, would probably adapt fairly well to their ecosystem,” he explained.
However, the biggest obstacle, according to Hoskinson, is the lack of formalized autonomy in Ethereum. “They really don’t have a good governance system on the channel,” he said. The construction of one, he believes, would take “five to seven years” given the network size and the rooted stakeholders. Without that, he warned, improvements in the protocol and community coordination will remain fragile.
Hoskinson’s most sharp forecasts occurred in the middle of the session: “I don’t think Ethereum will survive more than 10 years.” He predicted that the layer-2 networks will continue to “suckle all the alpha”, eroding the usefulness of the basic chain while aroused internal conflicts which will become “increasingly difficult for Vitalik to be able to hold (…) together through pure force of will”.
He also argued that a bitcoin ecosystem revitalized by Cardano’s efforts and faster monolithic chains could surpass Ethereum on liquidity and user experience. “Once (Bitcoin DEFI) lights up, the TVL will be greater than Ethereum (…) and the other is that they are eaten alive by Solana et suis and these other things,” he said, compare the difficult situation of Ethereum to companies such as Myspace and Blackberry who fought.
Hoskinson also contrasted the Ethereum roadmap with Cardano. He highlighted the virtual machine based on Cardano RISC -V, its extended UTXO accounting, and its “non -parasitic” approach to layer 2 scale – namely Hydra and the midnight sidechain – as evidence that Cardano already embodies the architectural decisions that he urged Ethereum to adopt.
Hoskinson conceded that some of Cardano’s governance tools are “a little bizarre now”, but that it will be “brilliant in three to five years”. On the other hand, he warned, Ethereum’s transition would be slower and more controversial, which gives alternative platforms to attract developers and liquidity. “Users will gradually migrate to other places, then they will be overshadowed by Bitcoin Defi,” he said.
The remarks take place at a sensitive moment for Ethereum, which completed its merger of evidence of work 18 months ago and is preparing for improvements aimed at reducing transaction costs and increasing the flow. It is unlikely that Hoskinson’s comments will influence Ethereum’s main developers, but they highlight an increasing debate on the question of whether modular and centered roadmaps can maintain the consistency of the network as competing ecosystems are evolving.
Invited to summarize his prospects, Hoskinson returned to the first principles. “A brilliant project,” he said about Ethereum, “it’s just (a) victim of his own success.” Without decisive reforms of architecture and governance, he concluded, the platform risks “a very hostile divorce” between the basic layer and its scaling solutions and, ultimately, obsolescence during the next decade.
At the time of the press, Ada exchanged $ 0.6872.
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