Cardano Founder Predicts Ethereum May Not Survive Next 15 Years

Cardano founder Charles Hoskinson has made a bold prediction about the future of Ethereum, stating that the leading smart contract platform may not survive the next 10 to 15 years. In a recent AMA session, Hoskinson compared Ethereum's potential decline to that of past tech giants like BlackBerry and Myspace, which failed to adapt to rapid innovation and shifting user demands. He cited several reasons for his pessimistic outlook, including Ethereum's outdated technical architecture, the destabilizing effect of layer 2 networks, and the absence of effective on-chain governance.

Hoskinson, who co-founded Ethereum, pointed out that Ethereum's accounting model, virtual machine, and consensus mechanism are poorly designed. He believes that its current approach to proof of stake is problematic and not built for long-term success. Regarding layer 2 solutions, Hoskinson argued that these platforms may ultimately splinter the ecosystem and make it increasingly difficult to maintain unity across the protocol. He also mentioned that newer systems, such as Solana, are smarter and more efficient, and those systems will win out over time.

Hoskinson's comments come at a time when the Ethereum ecosystem is facing significant challenges. Base-layer activity is collapsing, key metrics like fees and network usage have recently dropped to multi-year lows, and Ether (ETH) is no longer deflationary, reversing one of its most attractive value propositions. Additionally, institutional investors are pulling back, with Galaxy Digital and Paradigm reducing their ETH holdings and rotating into other cryptocurrencies like Solana.

Hoskinson's prediction highlights the risks associated with relying on a single platform for smart contract functionality. As the cryptocurrency landscape continues to evolve, it is essential for platforms to adapt and innovate to remain competitive. Ethereum's potential decline serves as a reminder of the importance of staying ahead of the curve in the rapidly changing world of blockchain technology.