In a recent interview, Hoskinson explained that Ethereum is increasingly dependent on the decisions of the second level designed to increase the scalability of the blockchain. Instead of eliminating restrictions, these decisions “take the value” of the main chain, Hoskinson noted. He cited Myspace and BlackBerry technological giants, which eventually collapsed due to competition and ineffective management.
“Ethereum is becoming a victim of its own success. The growing complexity of architecture and high commissions can cause the collapse of the network, ”said Hoskinson.
Despite the criticism and the presence of competing blockchains, such as SOLANA, Ethereum developers are actively working to improve the network. The developers of SCROLL, one of the leading solutions of the second level for the Ethereum network, presented the EUCLID update, which should reduce the commission for transactions to 90% and increase the productivity of the network.
At the same time, the ETH course is still under pressure: it fell by almost 360% of its historical maximum $ 4,878. Now the coin is traded at $ 1,768, and the market capitalization of the ether is $ 213.42 billion.
Recently, the founder of Cardano suggested that 99% of memcoirs will crash, since their creators do not refine their projects and do not strive to bring to society any value. As for Bitcoin, Hoskinson is optimistic: he believes that by the end of the year the BTC rate will reach $ 250,000.
Source: Bits
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