Cardano founder Charles Hoskinson continues to predict the fate of Ethereum and shares a new perspective to support his sustained prophecy.
Hoskinson appeared on the exclusive Coindesk Interview He then claimed that Ethereum would fall again. He highlighted the visual failure of the Ethereum Mainnet and why its perceived solutions cannot stand the test of time.
A problematic approach to spelling out the end of Ethereum
Specifically, Hoskinson noted that the Ethereum Layer 1 network failed to meet the vision its co-founders had envisioned. Despite being a hub for smart contracts and distributed finance (DEFI), Ethereum faces challenges with scalability and high transaction fees.
This suggests that their nature means that Layer 2 is not faithful and that the grass moves to a place in the green. “If there’s a more attractive target, you can simply move on or go to multichine.” Hoskinson said.
He further noted that the new dapp and liquidity is largely outside the Ethereum network. The founder of Cardano mentioned the privacy-focused sidechains resemble Layer 2 of all other chains, referring to them in the middle of the night. As a result, this new trend could lead to the pull of L2 from Ethereum and have a major impact on the network.
Repeated Prophecy of Ethereum’s Destiny
Surprisingly, Hoskinson repeatedly flaunted the story of Ethereum not surviving in the long run. He shared in April The network’s second-largest cryptocurrency by market capitalization will not last for another 10 or 15 years.
The founders of Cardano mentioned three reasons for this sentiment, including the inadequate choice of consensus mechanisms and the problems with L2. He further insists that Ethereum does not have sound governance and conforms to his comments. Blockchain is a dictatorship It is managed by co-founder Vitalik Buterin.
Meanwhile, Hoskinson recently expressed his frustration that Ethereum is ahead of Cardano. Nevertheless, he assured that his life was dependent on Beat your competitors Like Ethereum. Remember what he added during Coindesk Interview That Bitcoin Defi TvL surpasses the overall market capitalization of Ethereum.
