If it is the second largest name after Bitcoin in the world of cryptocurrency, then it is of Ethereum, but despite this, some experts have started raising questions about its wealth. In fact, Cardano founder Charles Hoskinson has made a big claim about the future of Ethereum. He has said that Ethereum will completely disappear in the next 10 to 15 years or will be fully revealed in a new form. Click here to read in detail what is the Ethereum.
Comparison to Etreum with Blackberry
After this claim of Charles Hoskinson, many investors have created panic, although Charles Hoskinson Ethereum Pointing to the technical weaknesses of this, it is described as Blackberry, which was once the number-1 company in the world, but did not change the technology and policy over time, then it disappeared completely from the market.
Let us tell you that Blackberry was a Canadian mobile company, which established its rule on the mobile market in the early 2000s, but was lagging behind due to ignoring touchscreen trends, weak ecosystem of apps, lack of user experience and decisions.
These three flaws are counted at Ethereum
Charles Hoskinson recently spoke about 3 major technical flaws of Etreum during the ‘Ask Me Anything’ session, which is as follows –
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The manner in which transactions and balance are tracked on Ethereum blockchain is quite complex and disorganized.
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This blockchain has Ethereum Digital Gadget (EVM) that runs smart contracts. According to Hoskinson, it has many weaknesses and limitations.
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Apart from this, Hoskinson said that Ethereum has recently adopted the ‘Proof of Steak’ model, which does not seem sustainable for the future.
What is proof of stake
Actually the proof of steak (POS) blockchain network has a kind of security system, which decides that it is. Which user can add new data to the blockchain. Actually it is needed because when thousands of millions of people are using the same digital system on the blockchain, such as Etreum or Bitcoin, it becomes necessary to decide who is adding the right data and is not cheating.
Questions raised on layer-2 networks also
On the scaling solutions of Ethereum, Layer-2 networks like optimism, arbitrum and polygon, Hoskinson also questioned that all these networks are called parasites in a way. He said that these networks take traffic and value from Ethereum, but in turn do not provide any special benefit to the main chain of Ethereum. He said that Etreum has no strong on-chain governance system, ie there is no fixed process so that users and developers can change the system.
Conclusion
Cardano founder Charles Hoskinson’s warning may have just come into the limelight, but Etreum is still the second largest cryptocurrency in the world and has a huge developer community and comprehensive user base. In such a situation, it is too early to consider it to be completely finished. However, the words of Hoskinson cannot be ignored. Ethereum must also make necessary changes in itself over time.
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