Ethereum (ETH) co-founder Peter Szilagy described the crypto industry as “casino”, because in his opinion speculation dominates. His colleague Vitalik Buterin is also frustrated, but via online casinos on the blockchain. In an ASK Me Anyding (AMA) meeting, he said that it was regrettable that Ethereum was criticized because the platform does not support blockchain-based casinos.
Buterin expresses frustration about criticism of Ethereum blockchain
Casinos have no place on the Ethereum blockchain. This leads to violent criticism of some investors. Butterin finds it disappointing that the platform is put into a bad light by all the negativity.
The ETH boss recently answered some questions on the community platform Tako. When asked “What are your greatest frustrations about the crypto industry of last year?” Did he have one clear answer:
Perhaps the most disappointing for me was that someone said that Ethereum was bad and intolerant because we do not respect the “casinos” on the blockchain enough, while other blockchains accept every application and are therefore better.
Crypto casinos are prohibited in Germany, but in the United Kingdom, Curaçao and some US states allowed. Vitalik Buterin is concerned about the moral shift of crypto. Should the ETH community also change, his interest in crypto and blockchain may disappear.
Despite his concerns, the ETH founder is happy that he has a lot of personal interaction with Ethereum investors. Various members of the Ethereum community made it clear to him that the core values of the crypto sector still exist. That calms him down to some extent.
Ethereum founder calls for cooperation
Vitalik Buterin is a Russian-Canadian programmer who founded Ethereum together with four others in December 2013. He was even briefly mentioned as a candidate for the Nobel Prize. Someone else took the price home, but he feels a great responsibility towards the community. Butterin called on the AMA to work: “This creates a world that we want to see”.
The world, from which the butterin dreams, does not consist of online casinos on the blockchain. But the ETH community is doing a leading role. This recently expressed violent criticism of the Ethereum Foundation (EF). Investors were not pleased when it turned out that the organization had sold ETH to finance their operations. Previously, there was unrest in the community due to a financial investigation by the authorities.
Due to the wave of criticism, the EF examined alternative forms of financing. Finally, on February 13, the organization invested $ 45,000 ETH ($ 120 million) in the Defi platforms Compound, Aava and Spark. This decision was given the consent of the community.
The support of the community alone is not sufficient to preserve the ETH core values. According to the butterin, a change within the ETH platform is also necessary. In the near future, the EF will look at applications differently, for example by supporting specific projects. A U-turn because neutral support for all DAPPs currently exists on Ethereum blockchain.