Ethereum (ETH) cannibalizes Bitcoin (BTC)!  Opinion of the CEO of Paxful

Ray Youssef delisted Ethereum from its crypto exchange, Paxful, last December for reasons of centralization. 5 months later, he has not changed his position regarding ETH. This time, he accused the world’s largest smart contract platform of ” brake for bitcoin “.

Ethereum, a stick in the wheels of bitcoin?

On December 22, Paxful elected to delist Ether from its crypto exchange loved by Africans. The reason is that Ethereum has moved from Proof-of-Work to Proof-of-Stake. This makes him ” a digital fiat currency “controlled by” a small group of people “. One day, with an ETH that “ is not decentralized “, we will have ” need permission to use »warned Ray Youssef.

According to a publication dated May 15 on bitcoinistthe CEO of Paxful once again slammed Ethereum.

Ethereum slows the progress of bitcoin

Ethereum is simply a leak and a brake for bitcoin. We have to be grateful that he slowed things down because we needed time to figure things out and put the pieces in place. We’ve been consistent, now it’s time to cut corners. CivKit will be what ETH should have been and I’m Vitalik on steroids. »

Ethereum, an obstacle and an obstacle to the progress of bitcoin? This is what Ray Youssef highlighted in his tweet. Because in his eyes, Ethereum has not lived up to its potential.

Fortunately, the crypto winter has given way to a semblance of a lull in the crypto-sphere. This has been conducive to a readjustment of the crypto industry, allowing the industry to “ put the pieces in place “.

CivKit, Paxful’s new project

We are aware that Paxful had to temporarily suspend its activities. A disagreement between Ray Youssef, the co-founder who invited users to withdraw their funds from the platform, and Artur Shaback, the other co-founder, is said to have caused the shutdown.

Could this be the reason that prompted Mr. Youssef to develop CivKit? He who praised his new project: the latter would bring a major improvement to the sector, he says.

According to him, CivKit would bring upheavals in the cryptocurrency industry. The latter would be able to surpass Ethereum in terms of functionality.

Undoubtedly, Ray Youssef will rely on a project that will highlight decentralization. One thing that Ethereum lacks, the paradise of scammers and stakers who will train the actors of the centralized finance of tomorrow. And this, bitcoiners will never validate.

As for the duel between Ethereum and Bitcoin, it seems that the latter continues to reign supreme in the cypto universe.

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