Buterin Hopes Centralised Exchanges Burn In Hell

By Khushboo Chadda

BTC Wires: Vitalik Buterin has lashed out yet again and his target this time is the authorities trying to set up centralised exchanges. In an interview with a TechCrunch journalist, Buterin poured bitter scorn on the whole use of a centralised exchange and remarked that he hopes that it “burns in hell”. The statement came from Buterin on July 6 and has created a worthwhile buzz ever since.

As a champion of the decentralisation, Vitalik Buterin has further cleared his stand in support of the same. He feels that by developing a better decentralised platform, the crypto community will be successful in eliminating the “stupid king making power” from centralised crypto exchanges. Vitamin is strongly in opposition of centralised platforms for being able to decide which cryptocurrencies “become big”.

Buttering feels that this happens by charging hefty listing fees of approximately ten to fifteen million dollars. He then pointed out how decentralisation would meet the values of the blockchain, like “openness and transparency”. As decentralised exchanges are built in such a way that they let their users retain ownership of their private keys as well as their cryptocurrencies.

However, one place where centralised exchanges beat DEX’s is at the point of the relative lack of liquidity. Ethereum’s degree of centralisation is being questioned by some experts who are critical about internal issues, like the possibility of collusion between mining pools to manipulate the network.

Khushboo Chadda

Khushboo Chadha is a passionate blockchain enthusiast who firmly believes in the extraordinary potential of the technology.

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