Charles Hoskinson, founder of Cardano and co-founder of Ethereum, has expressed skepticism about Ethereum's long-term viability, comparing its position to erstwhile titans like Myspace and BlackBerry.
Hoskinson believes that internal problems and external competition, including the rise of Bitcoin DeFi, are putting pressure on Ethereum.
He criticizes Ethereum's scaling strategy and its growing reliance on layer two solutions, describing them as 'parasitic' and draining value from the core network.
Hoskinson highlights Cardano's approach to scalability, emphasizing its sustainable layer two ecosystem and technological infrastructure as more efficient and future-oriented alternatives to Ethereum.