- Cardano founder Charles Hoskinson predicts Ethereum’s collapse within 10–15 years due to outdated technology and layer 2 fragmentation.
- Ethereum retorts with Scroll’s Euclid upgrade reducing gas fees by 90% to solve the scaling problem.
- Cardano’s price rises 2.88% to $0.7178, looking towards $0.80 but meeting resistance at $0.7666.
Cardano founder Charles Hoskinson, recently made a statement about Ethereum, the world’s second largest cryptocurrency. According to him, Ethereum may not last another 10 to 15 years.
This statement has made a lot of debate in the crypto community. Meanwhile, Cardano, the blockchain he created, is performing well in terms of price appreciation.
Cardano Founder Calls Ethereum Outdated
Hoskinson expressed these views in a question and answer session as well as in an interview with Altcoin Daily.
He described Ethereum’s technology as outdated and said it now depends too much on something called layer 2 networks.
These networks, such as Optimism, Arbitrum, and Base, assist Ethereum in processing transactions more quickly and inexpensively by performing them outside the primary Ethereum chain.
“The layer twos will continue to suckle out all of the alpha,” he said. “And then people will start fighting.” – Cardano founder said.
But Hoskinson says this is taking away value from Ethereum’s foundational system. He cautioned that it would split the network in the long run and make it more vulnerable.
He likened Ethereum to former great tech companies like Myspace and BlackBerry. They were huge but were not able to innovate and ended up dying out. Hoskinson indicated that Ethereum is a wonderful project but has been a victim of its own success.
“It’s a brilliant project,” Cardano founder said. “But it’s just a victim of its own success—like Myspace or BlackBerry.” – Cardano founder, Charles Hoskinson.
He explained that it has too many technical issues, internal conflicts, and stiff competition from other chains such as Solana and new DeFi initiatives of Bitcoin. He also stated that Ethereum’s existing system of confirming transactions and its computer infrastructure are not ready for the future.
Ethereum enthusiasts were quick to respond. Some accused Hoskinson of being dishonest since Cardano itself borrowed ideas from Ethereum.
One individual on social media claimed,
“The guy who ripped off Ethereum and made it terrible is now proclaiming it will die?”
Some, however, sided with Hoskinson. They noted that Ethereum still suffers from issues such as high fees, slow updates, and a difficult system. Even detractors agreed that he did make some valid points.
Ethereum Fights Back, Cardano Gains Strength
Ethereum is not silent on this issue either. One of its second layer networks, Scroll, just released a new upgrade called Euclid. The upgrade has the potential to reduce gas prices by as much as 90 percent and improve the network performance as well.
It indicates that Ethereum developers are working diligently to address the issues. Despite that, Ethereum’s price still is not improving. It is well below its all time high of approximately 4,878 dollars. Today, faster and cheaper blockchains such as Solana are becoming popular, so Ethereum is also under tough competition.
Meanwhile, Cardano is on the rise. Its price recently increased by 2.88 percent and hit 0.7178 dollars on Binance. It also broke an important price level at 0.6866 dollars, which indicates that buyers are interested. Trading volume is greater also, and that is why more individuals are being drawn towards it.
It’s believed by certain experts that the price may also increase up to 0.80 dollars anytime now, very close to 200 day’s average at 0.7666 dollars. However, in case the price drops below 0.6866, the price can reach up to the range of approximately 0.6153 dollars. Hence the individuals involved with trading need caution.
Hoskinson’s caution regarding Ethereum is not gratuitous. He was one of the individuals who helped create Ethereum in its initial stages before departing to work on Cardano. So his observations are not simply based on competition.
His principal argument is that Ethereum has actual issues such as slow scaling and a fractured system. While layer 2 solutions are reducing speed and expense, they could also split the network into multiple segments, something that would be dangerous.
On the flip side, Ethereum’s developers are proving that they can do better. The recent upgrade is a great step, and further updates are on the way. Whether Ethereum can remain a leader in smart contracts and DeFi depends on how it handles these challenges.
Currently, Ethereum and Cardano are at the center of attention. Hoskinson’s warning has opened up a debate, but it also reminds us that no blockchain can remain dominant without evolving. Ethereum must continue to evolve, and Cardano’s increasing price indicates that it is turning into a serious challenger.
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