Ethereum's time may be limited to under a decade, claims Charles Hoskinson.
Throwing Shade on Ethereum: Hoskinson's Brutal Prediction
Charles Hoskinson, the swaggering founder of Cardano and a former co-founder of Ethereum, shook the crypto world with his blunt predictions about Ethereum's long-term prospects during a lively "Ask Me Anything" session on April 23.
Hoskinson, known for not mincing his words, stated that Ethereum, currently the heavyweight champion with the highest total value locked (TVL), might not survive the next 10-15 years.
"Ethereum Sucks, Bro!"
Hoskinson, who used to be ethereum's ride-or-die, pointed out three fundamental structural issues plaguing the blockchain. He called Ethereum's economic model a flop, its virtual machine outdated, and its consensus model a failure.
The man behind Cardano bashed layer-2 solutions, likening them to parasites that aren't solving real problems. He argued that fixing these three issues is imperative to keep Ethereum from meeting the same fate as defunct tech giants like Blackberry and Myspace.
Layer-2 Breakdown, the Beginning of the End?
Taking aim at layer-2 solutions, Hoskinson foresees a future where they continue to erode Ethereum's dominance. He predicted a power struggle, making it increasingly tough for Ethereum's original visionary, Vitalik Buterin, to keep things together. Hoskinson envisioned users migrating to other networks, leaving the Ethereum DeFi ecosystem to operate in the shadow of Bitcoin's.
Cardano's fearless leader even forecasted that the TVL on the Bitcoin network will surpass that of Ethereum's. Talk about throwing shade!
Ethereum's Struggles in 2025
2025 has been a struggle for Ethereum, with ETH recording disappointing performance this year. Blame layer-2 leeches like Arbitrum and Optimism, high gas fees, regulatory jitters, and lack of Insti bigwigs' interest, or a combo of all—the reasons for Ethereum's underperformance are plenty.
Updates: A Lifesaver?
Despite the bleak picture, Ethereum's believers pin their hopes on upcoming updates like Pectra and Fusaka, promising to alleviate the hassles later this year [5]. The faith in these updates goes as far as saying they will boost scalability and usability, making large-scale transactions in the crypto world simpler [6].
But will these updates be a silver bullet, or does Ethereum's ship have already sailed? Only time will tell. As for now, Ethereum (ETH) is currently taking a hit, falling 1.1% in value over the past 24 hours, currently resting at $1,765 [7].
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Hoskinson's prediction of Ethereum's failure by 2035-2040 is rooted in five specific reasons:
- Outdated and Flawed Architecture: Hoskinson argues that Ethereum's fundamental architecture is flawed, including its accounting model, virtual machine, and consensus model. He believes that these design issues could make the network obsolete over time[9][10].
- Fragmented Layer 2 Ecosystem: Hoskinson's concern is that the dependence on Layer 2 solutions could lead to a fragmented network, negatively affecting its governance and cohesion[1][11].
- Poor System of Governance: Hoskinson criticizes Ethereum for its lack of robust governance mechanisms, which could hinder long-term planning and protocol improvements[12].
- Complexity and Unresolved Scalability Issues: Hoskinson mentions Ethereum's increasing complexity and ongoing architectural changes (such as the transition to Proof-of-Stake) as potential roadblocks to scalability and security[12].
- Proof-of-Stake Model Concerns: Hoskinson expresses concerns about Ethereum's Proof-of-Stake system, suggesting that it is not well-suited for long-term success[13].
These critiques underscore Hoskinson's concerns about Ethereum's sustainability and possible decline as a dominant blockchain platform.
Ethereum's former co-founder, Charles Hoskinson, foresees a troubling future for Ethereum in 2035-2040, stating that its fundamental architecture, including its economic model, virtual machine, and consensus model, are flawed. Hoskinson also criticizes Ethereum's over-reliance on Layer 2 solutions, which he believes could lead to a fragmented network, and its governance mechanisms for hindering long-term planning and improvements. Despite upcoming updates like Pectra and Fusaka aiming to improve scalability and usability, Hoskinson suggests that Ethereum's struggles may already be inevitable, comparing it to defunct tech giants like Blackberry.
