Adam Back criticizes Ethereum: Unresolvable technical issues

Adam Back, the founder of Blockstream and a pioneer in the Bitcoin space, has publicly expressed deep concerns about Ethereum’s architecture. According to him, the platform’s design limitations are not minor issues but fundamental flaws that could impact long-term security and efficiency.

From Bitcoin to Criticisms of Ethereum

As one of the most influential figures in Bitcoin history, Adam Back has analyzed Ethereum’s weaknesses in detail. He emphasizes that while moving to a Proof-of-Stake (PoS) mechanism aims to save energy, it creates a centralized power structure—where large token holders have significant influence over the network.

Complex Account Design and Technical Risks

Adam Back views Ethereum’s account structure as overly complex, creating security vulnerabilities. Specifically, he believes the Ethereum Virtual Machine (EVM)—the platform’s core—contains too much complex computational logic. This complexity not only makes the system difficult to maintain but also opens doors for hackers.

He asserts that no updates or upgrades can fundamentally fix these design flaws. These issues stem from initial architectural decisions, not accidental bugs that can be patched.

From Theory to Practice: The Cumulative Effect of Problems

Adam Back’s criticisms are not just theoretical. In the DeFi sector, vulnerabilities in smart contracts on the EVM have led to major hacks, resulting in the loss of billions of dollars in user assets. The unnecessary complexity in design has repeatedly served as an entry point for attacks.

His view is that Bitcoin, with its simple design and clear goals, is a safer choice. He recommends that those concerned about technical risks reconsider their Ethereum holdings in their portfolios.