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For the co-founder of Ethereum Vitalik Buterin he would like to see centralized exchanges of crypto-currencies "burn in hell as much as possible". This was declared June 6 in the event TC Sessions Blockchain 2018 held in Zug, Switzerland, where he reaffirmed his defense of decentralization.
Buterin believes that by developing better decentralized platforms ( DEX the crypto community should be able to eliminate " the stupid power to make king "Centralized cryptographic exchanges."
"I really hope Centralized exchanges burn in hell as much as possible.In practice, especially on the cryptographic side, it is very difficult to decentralize because eventually it interconnects with the fiduciary world, and the world fiat has only essentially centralized access routes … Valuable services are provided that are very difficult to decentralize "
He argued that the reason for which they have the power to choose cryptocurrencies that become big is because of the high commissions they charge, which range between ten and fifteen million dollars, adding that a larger decentra It would be consistent with the values of openness and transparency of the blockchain, as described by Crypto Economy.
For Buterin in the future, decentralized exchange solutions will become the most desirable, since they offer a simple and straightforward user experience without registration, web interfaces and account openings.
He noted that decentralization in the future elim will inar the power of influence mentioned exchanges. Despite this, he said that he was not sure of the choice that could make large traders, professionals and high-frequency traders.
Binance, Huobi and OKEx have expressed their intention to migrate to decentralized platforms. While many analysts consider decentralized exchanges, unlike centralized exchanges, they are built in such a way that they allow users to retain ownership of their cryptocurrencies and private keys. Detractors, on the other hand, argue that DEXs do not offer the liquidity of centralized platforms.
Ethereum is the second largest cryptocurrency with the largest market capitalization in the world, with about 47,500 billion dollars.
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