Vitalik Buterin is a household name in the cryptocurrency industry. Like many crypto entrepreneurs, he has never hidden his optimism when it comes to cryptocurrencies. For the Tau Manifesto, the founder of Ethereum decides to take a break from his Twitter break and gives his opinion on the treatment that blockchains are undergoing.
The competition is not other blockchains but the centralized world, says Vitalik Buterin
On June 28, Ethereum founder Vitalik Buterin decided to return to Twitter on the occasion of the Tau Manifesto. To this effect, the businessman said that he would answer all questions, whether they relate to cryptos or not. If we know that competition is fierce in all professions, this does not prevent the various players from showing solidarity with each other.
Indeed, in answering the question of an Internet user, the founder gave his opinion on how crypto businesses are treated in the United States. According to him, the real competition is not the other blockchains, but the centralized system that is slowly but surely imposing itself on them. He also claims that he feels bad for all the projects that are affected by this approach.
Crackdown on regulators is not doing the industry any good
Vitalik Buterin’s assertion may seem trivial. But remember that most exchanges are in the crosshairs of the SEC. Indeed, their differences are not new and recently, it was Solana and Polygon who responded to his accusations. But also exchange platforms like Binance US and Coinbase. If blockchains are going through a bad patch, Vitalik says he’s not proud of it.
For him, winning in this context would not be a privilege for Ethereum, especially in the long term. Therefore, instead of blockchains clashing, they should rather see how to eradicate the phenomenon of centralization.
Remember that several cryptos lost a third of their value in a few days because of US regulators. Above all, it is important to remember that the hallmark feature of cryptos is decentralization. Therefore, the permanent intrusion of traditional institutions could prove Vitalik Buterin right.
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