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Cardano’s Charles Hoskinson Says Ethereum Is ‘The Hotel California Of Crypto’
Hoskison remains relentless in his criticism of the Ethereum Merge.
Himanshu S.
7:50 17th Sep, 2022
Markets

In a tweet on Friday, Cardano founder Charles Hoskinson compared Ethereum to an alluring illusion that turns into a nightmare you can not escape, referencing a classic rock song by Eagles titled “Hotel California.”

“Ethereum is becoming the Hotel California of Crypto,” Hoskinson tweeted.

Hotel California is a 1976 classic rock hit by the band Eagles with the famous line, “You can check out any time you like, but you can never leave.” Writer David L. Nevins, in an article for The Fulcrum, while citing Don Henley’s interpretation of the song as “a journey from innocence to experience,” compares it to “a journey of inevitable change that never goes quite as planned. And as we take this journey, ‘along the way most of us want to check out but for some we can never quite leave.'”

Meanwhile, music writer Luca Divelti said in 2018, “The song thus depicted a veil of social criticism towards the foundations of the American Dream, (a) symbol of the illusion of a better future that can also turn into an endless torment, able to lure you with its promises and then deceive you: leaving California means losing hope forever, and it would be a shame to leave the suite in the hotel of dreams.”

Notably, Hoskinson’s comments come as there is still no clarity on when Ethereum investors will be able to access their staked Ethereum. While many believed that holders would be able to access their staked Ethereum immediately after the Shanghai upgrade, expected six months to a year from now, a shared discord message from an Ethereum developer reveals that there is no clear timeline for withdrawals even after the Shanghai upgrade.

It is worth noting that the Cardano founder has been relentless in his criticism of the Ethereum Merge. Hoskinson poked holes at the fact that one had to be wealthy to be a validator on the Ethereum network, implying that it could lead to a higher chance of centralization.

Notably, Cardano, unlike Ethereum, has liquid staking, which means user funds are accessible at all times. Additionally, holders participate in network validation by delegating their holdings with stake pools.

It bears mentioning that no love was lost between Hoskinson and Ethereum’s Vitalik Buterin. Owing to their rocky past, both crypto founders have a history of throwing subliminal jabs at each other. It is worth noting that Hoskinson was one of the original co-founders of Ethereum, along with Buterin, but is believed to have left the project after a few months over philosophical differences with Buterin.

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