Charles Hoskinson Predicts Ethereum’s Decline: A Stark Warning for the Future

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Charles Hoskinson, the founder of Cardano (ADA) and a former Ethereum (ETH) co-founder, made bold statements regarding the future of Ethereum during an interview with Altcoin Daily. Hoskinson suggested that the leading altcoin might not survive the next 10 to 15 years, igniting significant discussions within the cryptocurrency community.

“Layer 2 Solutions Drain Ethereum’s Value”

According to Hoskinson, Ethereum’s increasing reliance on Layer 2 networks is detrimental to the project’s long-term viability. These solutions are perceived to be extracting value from the main network instead of addressing its fundamental issues. He likened Ethereum’s situation to that of outdated technology giants like Myspace and Blackberry, arguing that this trend undermines the structural integrity of the network.

Hoskinson emphasized that Ethereum is becoming a victim of its own success, noting that increasing complexity poses sustainability risks. He highlighted issues such as gas fees, network congestion, and delays in technical upgrades as significant barriers to the altcoin’s progress.

The Ethereum community did not take these comments lightly. On social media, some users accused Hoskinson of hypocrisy, while others validated his concerns. One user remarked, “The person who copied Ethereum and made it worse is now predicting its demise.”

Swift Response from Ethereum Developers

In response to Hoskinson’s critiques, Ethereum developers are not remaining silent. They continue to work on enhancing the network’s efficiency and improving user experience. Notably, the “Euclid” upgrade announced by the Layer 2 solution Scroll has garnered attention.

The Euclid upgrade aims to reduce transaction costs by up to 90% and enhance network performance. Viewed as one of the most significant Layer 2 updates to date, Euclid represents a crucial step towards resolving Ethereum’s scalability issues.

Despite increasing interest in rival projects and rapid advancements in blockchains like Solana , Ethereum developers seem committed to continuing the network’s technological evolution. The project’s sustainability will hinge on forthcoming technical innovations in the coming years.

Being the second-largest cryptocurrency in market value and the biggest altcoin does not mean Ethereum is invulnerable. Currently trading approximately 360% below its all-time high of $4,878, investors are turning their attention to faster and cheaper alternatives.

High transaction fees, congestion, and technical uncertainties are limiting Ethereum’s use cases. New projects are increasingly gravitating toward lower-cost blockchain solutions, directly affecting Ethereum’s market share.

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