Hoskinson slams legacy crypto media after calling Ethereum a ‘dictatorship’

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As a researcher with a background deeply rooted in blockchain technology and a personal history that includes co-founding Ethereum and leading it as CEO, I find myself intrigued by Charles Hoskinson’s recent criticism of Ethereum’s governance model. His comparison of the platform to a ‘dictatorship’ is certainly provocative, but it’s important to understand his perspective, given his unique experiences within the project.

Charles Hoskinson, Cardano founder and former Ethereum chief executive, criticized an article published by Cointelegraph after an interview where he dubbed Ethereum a ‘dictatorship’ when compared to Cardano’s new governance model.

In a chat with Cointelegraph during the TOKEN2049 conference in Singapore, Hoskinson pointed out that Ethereum’s (ETH) current decision-making structure heavily relies on its co-founder Vitalik Buterin, yet he doesn’t believe Buterin wields unlimited power.

Immediately following the release of the article, Hoskinson expressed on his X platform that he would no longer grant interviews to traditional cryptocurrency media outlets, as he felt exhausted by the sensationalized headlines and unproductive conversations.

As an analyst, I’ve observed that Charles Hoskinson, the founder of Cardano, has raised a point about Ethereum. He perceives Ethereum as operating under a ‘dictatorship’, implying a significant control exercised by Vitalik Buterin over the network’s development in a decentralized context.

— Cointelegraph (@Cointelegraph) September 25, 2024

As a analyst, I’d rephrase it this way: In response to questions about my comparison of Ethereum to a dictatorship, the founder of Cardano (ADA) stated that he turns to Vitalik Buterin for guidance on the future direction of the blockchain technology, as Cardano finds inspiration in Ethereum’s decentralized platform.

As a crypto investor, I understand that Vitalik Buterin doesn’t single-handedly control Ethereum, as it’s more than just him – it’s the Ethereum Foundation, a vibrant community, and various stakeholders who participate in crucial decision-making during core meetings. Nevertheless, it’s hard to ignore the substantial impact that Buterin exerts on this blockchain.

For instance, he underscores the significant part that Buterin played in driving Ethereum’s transition from using sharding for optimization towards the adoption of rollups and layer-2 networks.

Instead, Hoskinson argues that Cardano’s governance system operates in a highly collaborative manner, ensuring the continuity of the decentralized platform even after his departure.

This occurs because the blockchain operates on a representative structure, where researchers and engineers function as delegates forming what he refers to as an “Intersect.” This group employs a voting mechanism to decide on their future actions.

He goes on to explain how the model solves the problem that has plagued other major blockchains, such as “the anarchy” of Bitcoin’s governance and “the dictatorship” of Ethereum’s model.

Prior to establishing Cardano, Hoskinson served as one of Ethereum’s co-founders alongside Buterin and held the role of CEO in 2013. However, he was dismissed from the company in 2014 due to a disagreement over the nature of Ethereum: Hoskinson advocated for a commercial approach, while Buterin preferred it to remain non-profit.

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2024-09-25 10:58