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The decentralization exists only on Bitcoin for the CEO of Tether
The post The decentralization exists only on Bitcoin for the CEO of Tether appeared on BitcoinEthereumNews.com. Yesterday, at BTC Prague, Tether’s CEO, Paolo Ardoino, stated that full decentralization belongs only to Bitcoin. He stated: “Bitcoin is about certainty. It’s like a clock that keeps ticking, keeps ticking forever. When it comes to the concept of unstoppable or decentralized products — because everyone uses the term “decentralized” — there is only Bitcoin.” He also stated that he is a big fan of the 1MB limit on Bitcoin blocks, and the fact that only one is mined every 10 minutes, because this way everyone can participate. Even in the poorest country, one can easily download a block and participate. The reference was obviously to other blockchains, which have blocks that are also much larger and above all much faster, but in this way require the nodes to download large amounts of data in a short time, effectively excluding those who have slow Internet connections. Bitcoin: The issue of decentralization according to the CEO of Tether According to Ardoino, Bitcoin is the only cryptocurrency that is not truly centralized. He said that Bitcoin is the only example of a currency governed solely by mathematics, and that it essentially cannot be modified. The other criptovalute instead have a more or less high degree of centralization. For example, he referred to those groups of developers who meet every month to decide whether to launch a new version of the software, whether to change monetary policy, and who in fact continue to change things. The reference is obviously to Ethereum, which unlike Bitcoin evolves (that is, changes). The Bitcoin protocol is practically unchangeable, except rarely and with the consensus of the community. Instead, the Ethereum protocol changes relatively often, even several times a year, and the decision on what to change, and how, is made by a relatively small group of developers,…
The post The decentralization exists only on Bitcoin for the CEO of Tether appeared on BitcoinEthereumNews.com.
Yesterday, at BTC Prague, Tether’s CEO, Paolo Ardoino, stated that full decentralization belongs only to Bitcoin. He stated: “Bitcoin is about certainty. It’s like a clock that keeps ticking, keeps ticking forever. When it comes to the concept of unstoppable or decentralized products — because everyone uses the term “decentralized” — there is only Bitcoin.” He also stated that he is a big fan of the 1MB limit on Bitcoin blocks, and the fact that only one is mined every 10 minutes, because this way everyone can participate. Even in the poorest country, one can easily download a block and participate. The reference was obviously to other blockchains, which have blocks that are also much larger and above all much faster, but in this way require the nodes to download large amounts of data in a short time, effectively excluding those who have slow Internet connections. Bitcoin: The issue of decentralization according to the CEO of Tether According to Ardoino, Bitcoin is the only cryptocurrency that is not truly centralized. He said that Bitcoin is the only example of a currency governed solely by mathematics, and that it essentially cannot be modified. The other criptovalute instead have a more or less high degree of centralization. For example, he referred to those groups of developers who meet every month to decide whether to launch a new version of the software, whether to change monetary policy, and who in fact continue to change things. The reference is obviously to Ethereum, which unlike Bitcoin evolves (that is, changes). The Bitcoin protocol is practically unchangeable, except rarely and with the consensus of the community. Instead, the Ethereum protocol changes relatively often, even several times a year, and the decision on what to change, and how, is made by a relatively small group of developers,…
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