Charles Hoskinson, co-founder of Ethereum and founder of IOHK, the company behind Cardano, expressed his opinion on the development of Ethereum, as well as on the role of Vitalik Buterin in the development.
Hoskinson believes that one of the main reasons why the development of Ethereum is facing problems is that too much depends on Vitalik Buterin personally:
“Ethereum is developing at the speed of Vitalik. If he is well versed in something, then the development is successfully moving in this direction. But when it comes to research or actually delivering a product to the market, these areas require some experience.”
According to Hoskinson, this shows that Ethereum is Buterin’s first major project:
“He has never done anything like this. This is his first company, his first project. He was never a researcher, never a CEO.”
Hoskinson also noted that plans to develop projects on Ethereum are too optimistic. This leads to unrealistic expectations of the community regarding complex projects, such as decentralizing the Internet and creating a new token economy. He noted that scaling such things is not easy, and it requires serious work, both from a scientific and engineering point of view.
“The Ethereum community blindly believes that somehow this will all happen within a few months or years, rather than decades,” Hoskinson said.
At the same time, he noted that he respects Buterin and considers him “a good guy, whose honesty and faith in the project he never questioned.” Despite the critical attitude to the development of Ethereum, Hoskinson still considers it the main competitor of Cardano:
“I think that Ethereum will be with us for a long time and will remain the main competitor of Cardano.”
Recall that, according to the calculations of Messari analyst Ryan Watkins, the daily volume of assets transferred in the Ethereum blockchain “caught up” with the same indicator of Bitcoin and reached $1.5 billion. In addition, Prysmatic Labs announced that it is launching a new test network of Ethereum 2.0.