Jack Dorsey criticized ETH for its “many single points of failure”, but he has done this before, so let’s read more in our latest Ethereum news today.
Twitter co-founder and Block CEO Jack Dorsey criticized ETH over the weekend, saying that the blockchain has many single points of failure and that all projects based on it are not interesting for him. Dorsey isn’t known for his Twitter shyness and he dragged Robinhood trading app and CEO Vladimir Tenev, but he jumped on a crypto thread of musician Cardi B to blast Web3 venture capital firms.
If you build on ETH, you have at least one, if not many, single points of failure and are therefore not interesting to me.
— jack⚡️ (@jack) April 19, 2022
Dorsey is a proud BTC supporter and says other cryptocurrencies are not considered at all. Last summer, he said “no” when someone tweeted that it was only a matter of time before the block CEO invested in ETH a month and a half later and shared his anti-ETH tweet. Dorsey’s criticism of the world’s second-largest crypto remained murky and it all started with a tweet from Vitalik Buterin.
Buterin pointed to Tesla CEO Elon Musk’s recent purchase of a 9.2 percent stake in Twitter, which some people, including Jackson Palmer, believe could lead to a takeover. Buterin wrote that he was not opposed to the principle of Musk’s acquisition, but he feared the move would set a dangerous precedent for the less liberal individuals and organizations. He claimed:
“I am [sic] don’t think any person or institution should own social media or more generally media businesses. It should be an open and auditable protocol. Everything is a step in that direction.”
Deso, as a crypto-based social network called Bitcoin, jumped onto the thread to do some self-promotion and Jack replied that he had no interest if DESO was an ETH protocol, but thankfully Deso is not ETH-based. Before leaving Twitter, Dorsey wanted to design a new decentralized standard for social media platforms to conform to and founded a new initiative in 2019 called “Blue Sky” led by Twitter’s CTO Parag Agrawal.
A leader in many crypto news categories, DC Forecasts strives for the highest journalistic standards and adheres to strict editorial guidelines. If you are interested in offering your expertise or contributing to our news site, please feel free to contact us at [email protected]