Ethereum Creator Vitalik Buterin, being a staunch advocate of decentralization, during an interview at TechCrunch Blockchain Sessions expressed their attitude to centralized exchanges:
“I definitely hope that they will burn in hell as much as possible. There is no reason to keep the projects were paid $10-$15 million for the listing to give people the opportunity to trade their tokens”.
Buterin explains the existence of centralized exchanges is the fact that those still are the only link between cryptocurrency and fiaty worlds. And fatny the world recognizes while only centralized way of development.
In his speech Buterin also touched on many different topics. He noted that people have different needs, so the world can never be completely centralized or completely decentralized. He also expressed concern about the events in Sichuan, where floods destroyed a major producer of mining cryptocurrency.
Speaking about working on Ethereum, Buterin reported that the developers are doing everything possible to keep the network decentralized, but sometimes they have to face difficulties, especially when it comes to user authentication:
“Of course, you can generate private and public keys, which users will manage themselves. Sending ETH is the signing of the transaction, there is nothing complicated. But what if you lose the keys? What happens if you lose the password? If all methods of authentication of users will be a failure, to achieve mass distribution will be hard.”
That is why Buterin hard is now studying the schemes of multi-user and authorization through social networks. So for example WeChat, if you lose the password, prompts the user to choose from a large list of names the names of their contacts. Either have the ability to come up with some offline confirmation of account ownership.
“If nothing happens, we all will use Coinbase and it’s not very fun,” concluded Buterin.
Recall that in late June, the acne Buterin called in court to deprive research company nChain patent on the technique of deterministic key generation, arguing that there is no innovation in this, and we are talking about the old deterministic wallets on the basis of the public key that was used in 2013.