Vitalik Buterin hopes centralized crypto exchanges burn

    2018/07/09 14:27 Sarah lv Created with Sketch.

Vitalik Buterin, Ethereum (ETH) co-founder  has made headlines this weekend by attacking centralized exchanges during an interview with TechCrunch journalist Jon Evans.

Buterin stated, “I definitely personally hope centralized exchanges burn in hell as much as possible.”

It is no surprise that Buterin has strong feelings against centralized exchanges as he has been at the forefront advocating for decentralization. He indicates that the creation of smoother running decentralized platforms, crypto enthusiasts can eradicate the “stupid King making power” from these centralized exchanges.

One of Buterin’s main qualms with the centralized entities is that these platforms hold the sole capacity to decide which cryptocurrencies will thrive by charging listing fees that can range upto $15 million.

Buterin utilizes one main example to further his defense for decentralization. He states that, “if someone puts a gun to [his] head and tells [him] to write a hard fork patch,” there would be no doubt that we would do it, but he continues to indicate that, “relatively few” users would actually download and run the update. He finishes his example by indicating that, that “is called decentralization.”

Buterin believes that additional  decentralization would gratify the transparency that blockchain can bring to the crypto community.

    Adapted from: CoinTime Executive editor: Sarah
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