During Wednesday's Ask-Me-Anything (AMA) session, Cardano founder Charles Hoskinson predicted that Ethereum would not survive in the next decade.
“So I don't think Ethereum will survive for more than 10 to 15 years,” he said.
He predicts that users will eventually move elsewhere.
Hoskinson compared Ethereum to BlackBerry, the once dominant smartphone maker that was extinct due to the success of Apple's iPhone.
According to Hoskins, who also co-founded flagship Altcoin, the Ethereum Foundation (EF) did three wrong things. First, he argues that Ethereum has a wrong protocol. “They have the wrong accounting model, they have the wrong virtual machines, they have the wrong consensus model,” he pointed out. Hoskinson said the current protocol that Ethereum has for proof is incorrect.
He also criticized Ethereum's novel economics and Layer 2, which are robbing activity from the main chain. Hoskinson describes L2 as a “parasite,” reflecting the criticism of Solana co-founder Anatoly Yakovenko. The L2S will continue to suck all the alpha out of the main chain, he predicts. “People will stop fighting and it will be more and more difficult for Vitalik to hold it together,” Hoskinson added.
Finally, the co-founder of Cardano says that Ethereum does not have the robust on-chain governance system needed to efficiently solve the aforementioned problems.
Ethereum (ETH) performance is one of the most talked about stories in the cryptocurrency world. Tokens have fallen 46% against Bitcoin since the beginning of the year. Meanwhile, ETFs that allow bets on ETH are some of the best performers in the US
