Last week, the co-founder of Ethereum Vitalik Buterin in an interview with TechCrunch expressed the hope that centralized exchanges “will burn in hell.” Chapter Binance Chanpen Zhao with him strongly agree.
Buterin, known for his bluntness, said the following:
I cherish the strongest hope that centralized exchanges are going to hell, where they will be prepared as a stronger flame.
The statement flew in the cryptocurrency community at lightning speed. Words Buterin commented on Chanpen Zhao, the head of the second in the world in terms of intraday trading exchange Binance. He wrote in his Twitter:
I was asked to comment on the statement about Vitalik exchanges that should burn in hell. We all need to exercise tolerance and understanding. And appreciate the fact that we are part of the same ecosystem…
Next, Zhao pointed to the need for a global vision. He noted that Fiat currency has significantly influenced its decentralized counterpart. According to Zhao, if not for Fiat currency and centralized exchange, then the digital coins would have much less liquidity, and the scale of the industry remained much more modest.
Zhao also said:
The fact that your neighbor is busy rough work digger, doesn’t make him dirty.
It is worth noting that, although the acne and wished all cryptocurrency exchanges “burn in Hellfire”, he also acknowledged that the success of decentralized exchanges — the question of the future. Co-founder of Ethereum also said that centralized exchanges are viable only because serve as a bridge between cryptocurrency and Fiat.
For his part, Zhao pointed out that real decentralization exists, and if the project is a team, kind of centralization is obvious. He explained:
Now Vitalik, perhaps more influence than anyone else in this industry. Relying on his reputation, he acts as a consultant to different projects. Thus, he decided the fate of many projects is at least significantly influenced the outcome of their ICO.
Also the head of the Binance noted that “decentralization is not more reliable by default.” As an example he cited the situation with The DAO and the emergence of Ethereum Classic, when a security vulnerability decentralized organization eventually led to the hard forks.
Meanwhile, Zhao emphasized that “fully supports blockchain/decentralization/freedom.” This is evidenced by the fact that Binance develops its own decentralized project Binance Chain.
The position of Binance on the issue of centralization/decentralization is clearly set forth in the official statement of the project:
In the near future centralized and decentralized markets coexist, complementing each other and maintaining interdependence. We develop our project, because we believe that blockchain technology will change the world.
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