Charles Hoskinson, the visionary behind Cardano and former CEO of Ethereum, lambasted legacy crypto media after branding Ethereum as a ‘dictatorship’ compared to Cardano’s community-driven governance model.
In an interview with Cointelegraph during the TOKEN2049 conference in Singapore, Hoskinson elaborated on Ethereum’s supposed ‘dictatorship’. He indicated that Ethereum’s governance is heavily reliant on its co-founder, Vitalik Buterin, for significant decisions, albeit without considering Buterin an absolute leader.
Following the publication, Hoskinson expressed his frustration on his X account, declaring that he would cease giving interviews to traditional crypto media due to their “dramatic headlines and wasted interviews.”
Hoskinson’s Perspective on Ethereum’s Governance Model
When questioned about calling Ethereum a dictatorship, the Cardano founder clarified that Ethereum’s ecosystem heavily relies on Buterin for future direction. Although Ethereum includes the Ethereum Foundation, a committed community, and stakeholders who make significant decisions through core meetings, Hoskinson couldn’t ignore Buterin’s substantial influence.
For instance, Buterin’s pivotal role in transitioning Ethereum’s optimization strategy from sharding to rollups and layer-2 networks is a testament to his influence.
Cardano’s Collaborative Governance Approach
Conversely, Hoskinson emphasized that Cardano’s governance model is designed to be more inclusive and enduring. Cardano’s delegate-based model—comprising researchers, engineers, and what Hoskinson terms an “Intersect”—leverages a robust voting system to chart its future. This ensures Cardano’s sustainability well beyond his involvement.
Hoskinson believes this model addresses the governance issues faced by other prominent blockchains, such as Bitcoin’s chaotic governance and Ethereum’s centralized approach.
It’s worth noting that before establishing Cardano, Hoskinson was a pivotal co-founder of Ethereum alongside Buterin, serving as its CEO in 2013. However, he departed in 2014 after a divergence in visions—Hoskinson advocated for commercialization, while Buterin preferred a non-profit route.
For more insights and expert opinions on trading strategies, Click Here For More Trading tips and strategies.
Discover more from Make Money Online and Work From Anywhere
Subscribe to get the latest posts sent to your email.
