Ethereum is a 'Dumpster Fire' - Cardano Founder


Earlier this week, the founder of Cardano had stated exactly this: "Ethereum has a dumpster fire of a consensus layer, has a terrible programming model that they can't change, and are getting eaten alive by their own layer 2 ecosystem"

It's interesting because that's what the ethereum community has been thinking about the entire time. In order to deploy a contract, I've got to pay upwards of 150$ and sometimes if i'm lucky 90$ in transaction fees. That's before I even see the outcome of that contract. It's bonkers and a failed system. You can't have outrageous fees for a financial service you expect to be one of the best in the world at some point in time; I believe that the Cardano founder had foreseen the future of ethereum in that single sentence. It's going to end up in a dumpster fire and eaten alive. I personally believe that their first layer was the best since fees back then were at 1-2$ and at 8$ maximum per transaction. Today it's at a minimum of 15$ when i send ethereum. It's insane and I can't believe people use the damn thing. Keep in mind, that it's at 15$ on weekdays and weekends, there are only about 1 or 2 days in the week where the fee is at 2$ which is alright, still not the best. 

In light of fairness and no bias, here are a few stats representing the above view: 

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And this was back in 2021:

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I'm all fine with the low fees which last a week or two, but the real problem occurs when Ethereum reaches sky high fees. These fees usually last for months and are always a pain to experience. If we take a look at graph 1, we can clearly see that the high fees were only implemented after the Layer 2 release or whatever the hell happened in 2020...High fees are now the norm. I miss the days when a transaction used to cost 0.2$.

Even the memes in the community suggest that something's very wrong with the Ethereum blockchain:

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Interesting.

 

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