In his last Ask-Me-Aything session broadcast on April 23, the founder of Cardano, Charles Hoskinson, delivered a radical criticism of Ethereum’s long-term perspectives, arguing that the second largest smart contract platform in the world is taxed by what he called three “self-inflicted wounds” and lacks governance in the necessary chain to cure them.
Ethereum faces a deadline of 15 years: Founder of Cardano
Answering a audience question: “If I were executing the Ethereum Foundation, what would you do differently?” – Hoskinson saying The project chose “the wrong accounting model, the incorrect virtual machine and the incorrect consensus model”, a triad of design decisions that believes that Ethereum’s survival now threatens. “People told them not to do so, they did, and they came to where they had to go,” he said, before warning that the solutions adopted so far “put all these strange economy and layer of cape and other things,” whose involuntary consequences are beginning to bite.
Hoskinson, who co -founded Ethereum in 2014 before leaving Cardano two years later, insisted that a viable change would require parallel work transmissions. “First of all, you have to solve your technological problems,” he said, pointing out the implementation of Ethereum’s participation test as something that the network “needs to leave.”
He suggested a change to what he called a “telescopic protocol design” such as Ouroboros-Leios, the next Cardano update route, and urged Ethereum developers to look at the “SWE object model”, together with the Narwhal and Tusk-style consensus, and a movement towards the set of RISC-V instructions. “Something like Risc-V with intention, with a model of objects like Swe, would probably fit quite well in its ecosystem,” he argued.
However, the greatest obstacle, in Hoskinson’s opinion, is the lack of formal self -government of Ethereum. “They really don’t have a good governance system in the chain,” he said. The construction of one, estimates, would take “five to seven years” given the size of the network and entrenched interested parties. Without it, he warned, protocol improvements and community coordination will remain fragile.
Hoskinson’s most pointed forecast came in the middle of the session: “I don’t think Ethereum survives more than 10 years to 15 years.” He predicted that layer 2 networks will continue “sucking the entire alpha”, eroding the usefulness of the base chain while causing internal conflicts that will grow “increasingly difficult for Vitalik to maintain […] Together through pure willpower. “
He also argued that a Bitcoin ecosystem revitalized by Cardano’s efforts and faster monolithic chains could overcome Ethereum both in liquidity and in the user’s experience. “Once [Bitcoin DeFi] It turns on, the TVL will be larger than Ethereum […] And the other thing is that Solana and Sui and these other things are eating them alive, “he said, comparing Ethereum’s situation with companies such as MySpace and Blackberry who fought to pivot when” fundamentally different paradigms […] crawl on you. “
Hoskinson also contrasted the Ethereum roadmap with Cardano’s own. He highlighted the Virtual Machine based on Cardano RISC-V, its extended UTXO accounting and its “non-parasitic” approach for the scale of layer 2, that is, Hydra and the midnight enrollment, as evidence that Cardano already embodies the architectural decisions that Ethereum is urging to adopt.
Hoskinson admitted that some of Cardano’s government tools are “somewhat strange now”, but maintained that it will be “incredible in three to five years.” On the contrary, he warned that Ethereum’s transition would be slower and more controversial, giving time for alternative platforms to attract developers and liquidity. “Users will gradually migrate to other places and will then be eclipsed by Bitcoin Defi,” he said.
The comments arrive at a sensitive moment for Ethereum, which completed its fusion of state test 18 months ago and is preparing for updates aimed at reducing transaction costs and increasing performance. It is unlikely that Hoskinson’s comments influence Ethereum’s central developers, but underline an increasing debate about whether modular roadmaps and focused on the Rollup can maintain the coherence of the network as competitors evolve.
When he was asked to summarize his perspective, Hoskinson returned to the first principles. “A brilliant project,” he said about Ethereum, “it’s just [a] Victim of his own success. “Without decisive architectural and governance reforms, he concluded, the platform runs the risk of” a very hostile divorce “between the base layer and its scale solutions and, ultimately, obsolescence in the next decade.
At the time of publication, Ada quoted at $ 0.6872.
Outstanding image of YouTube, TrainingView.com box
Editorial process For Bitcoinist, he focuses on the delivery of content completely investigated, precise and impartial. We maintain strict supply standards, and each page undergoes a diligent review of our technology experts and experienced editors. This process guarantees the integrity, relevance and value of our content for our readers.
