Ethereum’s Vitalik Buterin Blasts Centralized Crypto Exchanges: “I Hope They Burn in Hell”

Ethereum’s Vitalik Buterin Blasts Centralized Crypto Exchanges: ‘I Hope They Burn in Hell’

Co-founder of Ethereum (ETH) Vitalik Buterin criticized centralized exchanges, saying that he hopes they will “burn in hell,” in an interview with a TechCrunch journalist Jon Evans, July 6.

FREE CRYPTO COIN JUNKY HANDBOOK - 147 page guide covering Crypto Fundamentals, Beginners/Advanced Crypto Trading Strategies, Crypto Mining Techniques, ICO Investment strategies, and so much more.

CRYPTO TRADING STRATEGY GUIDES - Whether You're Day Trading, Swing Trading, Or Just Investing...Our Extensive Guides Will Get You To Where You Want To Be.

Buterin has reiterated his positive stance on decentralization, claiming that by developing “better” decentralized platforms, the  crypto community should be able to take away the “stupid King making power” from centralized crypto exchanges.

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

The creator of Ethereum criticized centralized platforms for having the ability to decide which cryptocurrencies “become big.” According to Buterin, they do this by charging “these crazy ten to fifteen million dollar listing fees.” He then added that further decentralization would better satisfy the “blockchain values” of “openness and transparency.”

Decentralized exchanges (DEX’s), unlike centralized ones, are built in a such way as to allow users to retain ownership of their cryptocurrencies and private keys. However, DEX’s also have disadvantages – the relative lack of liquidity, compared to their centralized counterparts, being one of the examples.

In the interview, Buterin cited one example to demonstrate the advantages of the current decentralization of Ethereum: “if someone puts a gun to [his] head and tells [him] to write a hard fork patch,” he would definitely do so. However, “relatively few” users would then download and run the update, and that, according to Buterin, “is called decentralization.”

The degree of decentralization of Ethereum itself has been put in question by some experts, who cite, for example, the possibility of collusion between mining pools to manipulate the network.

Leave a Comment

Latest Crypto News

CoinMarketCap Removes Volume Requirement for Cryptocurrency Exchanges

CoinMarketCap Removes Volume Requirement for Cryptocurrency Exchanges

CoinMarketCap Removes Volume Requirement for Cryptocurrency Exchanges CoinMarketCap, the cryptocurrency data aggregation site, recently removed their volume requirements for crypto exchange listings on their platform, citing data transparency and clarity concerns. The giant cryptocurrency portal

JPMorgan Wants to Use Blockchain to Issue ICO Tokens

JPMorgan Pursues Blockchain Patent to Issue ICO Tokens

JPMorgan Pursues Blockchain Patent to Issue ICO Tokens American investment banking giant JPMorgan Chase is pursuing a patent for a distributed system that uses blockchain technology to issue virtual depository receipts that sound suspiciously like

IBM Backs Dollar Pegged Stablecoin on Stellar Network

IBM Backs Dollar Pegged Stablecoin on Stellar Network

IBM Backs Dollar Pegged Stablecoin on Stellar Network The San Francisco-based financial institution, Stronghold, has been developing a trade-in payment ecosystem which is launched an asset backed token on the stellar network. Buyers will be

The Fastest Cryptocurrency Transaction Speeds for 2018

The Fastest Cryptocurrency Transaction Speeds for 2018

The Fastest Cryptocurrency Transaction Speeds for 2018 The development of blockchain technology and cryptocurrency in general have everything to do with the inadequacies of the current financial system. Consumers are sick and tired of the

Wells Fargo Files Patent for Tokenization System to Protect Data

Wells Fargo Files Patent for Tokenization System to Protect Data

Wells Fargo Files Patent for Tokenization System to Protect Data San-Francisco-based bank Wells Fargo has outlined a patent for a tokenization system that would protect data, according to a filing published by the U.S. Patent and Trademark Office (USPTO)

Bitmain Opens 20,000 Square Foot Office in Silicon Valley

Bitmain Opens 20,000 Square Foot Office in Silicon Valley

Bitmain Opens 20,000 Square Foot Office in Silicon Valley The cryptocurrency industries largest crypto mining company, Bitmain, just opened their new office in Silicon Valley ahead of its planned Initial Public Offering (IPO) later in

Sign Up Below!
Airdroppin the Latest Crypto News, Trading Strategies, Tools, & Reviews



1
Bitcoin
Bitcoin
$7,441.09
1.53%
2
Ethereum
Ethereum
$463.80
0.83%
3
XRP
XRP
$0.4530
0.83%
4
Bitcoin Cash
Bitcoin Cash
$789.78
2.40%
7
Litecoin
Litecoin
$83.747
1.47%
8
Cardano
Cardano
$0.1685
3.64%
6
Stellar
Stellar
$0.2963
7.45%
12
NEO
NEO
$34.031
2.65%
5
EOS
EOS
$8.090
2.30%
9
IOTA
IOTA
$0.9979
1.73%

Crypto Guides & Tutorials

 Crypto Reviews

Subscribe to Our Social Media Daily Crypto Memes
Follow, Like, and Share Our Memes With The World

 

Pin It on Pinterest

Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK