Cardano (ADA) Founder Criticizes Ethereum (ETH) “Gave It 15 Years!”

Although Ethereum (ETH) is currently far from its 2021 ATH of close to $5,000 and has recently attracted attention with its weak performance, it continues to be the second largest cryptocurrency in the market with its strong stance for years. While ETH is struggling with many rival altcoins in this process, many names say that it will not survive. Finally, one of them was Cardano founder Charles Hoskinson. Cardano founder likened Ethereum to BlackBerry in a recent AMA session, claiming that it could disappear within 15 years. Charles Hoskinson likened Ethereum to the smartphone manufacturer Blackberry, which once perished due to the success of Apple’s iPhone. Hoskinson, who is also one of the Ethereum co-founders, said the Ethereum Foundation (EF) did three things wrong. First, Ethereum has the wrong protocols, according to Hoskinson. “They have the wrong accounting model, they have the wrong virtual machine, they have the wrong consensus model. The current protocol that Ethereum uses for proof of stake is wrong,” Hoskinson said. Secondly, he criticized Ethereum Layer-2s and argued that these projects are taking away Ethereum’s economy and main chain activity. Describing L2s as a parasite for ETH, the Cardano founder said, “L2s will continue to suck all the alpha from the main chain. L2s will eventually stop fighting and it will become increasingly difficult for Vitalik to keep them together.” Finally, Hoskinson noted that the Ethereum Foundation lacks a robust on-chain governance system that would be needed to effectively address the issues he cited. For all these reasons, Hoskinson claimed that users will eventually migrate to other platforms and Ethereum will not survive the next 10 to 15 years. *This is not investment advice. Continue Reading: Cardano (ADA) Founder Criticizes Ethereum (ETH) “Gave It 15 Years!”

Source: BitcoinSistemi