Roubini Calls Buterin A “Dictator” Of Ethereum - Ethereum News. Tuesday, October 9th
Roubini calls Buterin a “dictator” of Ethereum
And Vitalik rejects his comments
American economist Nouriel Roubini has charged against cryptocurrencies and their decentralization, labeling it as a “myth”. According to a tweet by the man who predicted the collapse of the market in 2008 three years before it happened, the supposedly boasted decentralization of the crypto sector is not true, and the current situation of mining and exchanges can easily be compared to North Korea, in that they are very centralized.
He also said that even developers involved in the blockchain sector are too centralized, especially the co-creator of Ethereum Vitalik Buterin, who was referred to as a “dictator for life”.
The news reached Buterin, who then proceeded to quote Roubini’s tweet and responded that it wasn’t fair to characterize him as such. “If you look more deeply at the actual processes of ethereum governance you'll find that while a technical elite does exist (as in all cryptocurrencies), my own involvement is much less pivotal than it seems from the outside,” he said, adding that as an example, it was not his idea the reduction of the reward for every mined block, from 3 ETH to 2 ETH, having no involvement at all in its implementation.
However, he acknowledged that there is a certain degree of centralization in developers, exchanges and miners, and they are working around these issues to diminish them, such as multiple client implementations, the development of decentralized exchanges, and many protocol features that will come with the migration of the current consensus algorithm to Proof of Stake (PoS).
The last days have been quite tough for the most recognizable face of the Ethereum project. From his alleged support for altcoins by pumping them with the Ether he holds in his wallet since the pre-mining, to his misinterpreted detachment from the foundation, and now being called dictator of the project, surely these days have been something.
However, he remained calm during his comeback, and even expressed his willingness to talk about this anytime. “Would be happy to chat more in any case,” he said.
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