Ethereum co-founder Vitalik Buterin has some strong words for centralised crypto exchanges, claiming they should “burn in hell”.
Speaking at the TC Sessions Blockchain 2018 event in Switzerland, Vitalik said: “I definitely personally hope centralised exchanges burn in hell as much as possible.
“In practice, particularly on the fiat to crypto side, it is very difficult to decentralised because you ultimately are interfacing with the fiat world, and the fiat world is one that only has basically centralised gateways. There are valuable services being provided there that are very hard to decentralise.”
His thoughts echo those of many in the crypto space who believe it should be kept decentralised in order to fulfill its promise. Vitalik went on to talk about how centralised exchanges take advantage of their power in the market.
“We can really take away this stupid king making power that these centralised exchanges have where they have this ability to just decide which tokens become big by deciding to list them and then charging these crazy $10 million to $15 million listing fees,” he continued. “The more we can get away from that world and into something which actually satisfies the blockchain values of openness and transparency the better.”