Charles Hoskinson, the founder of Cardano and a co-founder of Ethereum, has expressed concerns about Ethereum’s future, stating that the platform may face serious challenges.
Ethereum's Layer 2 Issues
In a recent discussion on Altcoin Daily, Hoskinson pointed out that Ethereum is becoming increasingly difficult to manage and is relying too much on Layer 2 networks to address its scaling issues.
He believes that these extra layers are gradually pulling value away from Ethereum’s main network. Hoskinson compared Ethereum to once-popular tech giants like Myspace and Blackberry that failed to keep up with new ideas in the market.
In his words, Ethereum is becoming a "victim of its own success," struggling to adapt as the crypto space evolves.
Criticism of Hoskinson
The discussion sparked mixed reactions in the crypto community. One user critically noted, "The guy who copied Ethereum and made it worse is now predicting its death?" However, some agreed with Hoskinson, warning that Ethereum’s endless delays and complex upgrades are driving users away.
Latest Updates and Current ETH Situation
Nonetheless, Ethereum developers are busy working on new updates. For example, the project Scroll, one of the Layer 2 initiatives, announced a significant update called "Euclid," which promises to cut gas fees by 90% and improve network performance.
While Ethereum strives to enhance its platform, its token, ETH, is facing difficulties: it has dropped nearly 360% from its all-time high of $4,878. Meanwhile, newer blockchains like Solana are gaining popularity.
Hoskinson's remarks highlight growing concerns within the crypto community regarding Ethereum's future, despite ongoing developer efforts to introduce new upgrades.
