Ethereum is a mess, and its going to get much worse [Video]

Since its inception in July 2015, Ethereum has undergone several massive changes in direction.

From the world computer to a modular blockchain, then switching from proof-of-work (PoW) to proof-of-stake (PoS), and abandoning on-chain scaling to embracing a patchwork quilt of layer two solutions, Vitalik Buterin’s brainchild has struggled to define itself and stick to one vision for long.

Just months from its 10th anniversary, it’s time to admit Ethereum has failed to live up to its potential. A decade into the experiment, projects either leave altogether or create their own chains and scaling solutions.

Giving up on layer-one scaling was a fatal mistake

Even in the early days, some large projects moved away from Ethereum. Tron was a memorable example, but the pace of projects migrating away has only picked up since then.

Enjin sunsetted Ethereum servicesin December 2023, moving 200 million NFTs to its blockchain. Uniswap has integrated with a dozen blockchains, Polymarket has integrated with Polygon, and now ENS is creating …