Vitalik Buterin Warns of Moral Shift in Crypto: Is Ethereum at Risk?

Buterin Warns of Moral Shift in Crypto: Here’s What He Said

Critical of Ethereum’s position on blockchain gambling, Ethereum co-founder Vitalik Buterin has expressed concerns about what he calls a moral shift in the cryptocurrency industry. Buterin was asked to discuss his last year’s dissatisfaction with the cryptocurrency sector during an Ask Me Anything (AMA) session on February 20. His disappointment with the criticism of Ethereum for not adopting blockchain-based gambling was brought to light.

Perhaps the most disappointing thing for me recently was when someone said that Ethereum is bad and intolerant because we don’t respect the “casinos” on the blockchain enough, and other chains are happy to accept any application, so they are better.

Buterin

Buterin went on to say he would no longer be interested in being involved in the blockchain area if the community underwent this kind of change. In spite of this worry, he pointed out that his offline interactions with community members had given him a different viewpoint.

Buterin Stands Firm: ‘I Can’t Abandon Ethereum’”

Vitalik said he has a responsibility to the community and cannot abandon it. He urged the Ethereum community to work together to create the “world we want to see.” He added that this will require changes, saying that the Ethereum Foundation may not be too neutral at the application layer, supporting certain types of projects rather than maintaining complete neutrality.

Buterin’s remarks come after the Ethereum Foundation’s fundraising arrangements were modified. On January 20, the foundation was criticized by the community for using Ether to finance its operations. Many thought that decentralized finance (DeFi) offered other strategies besides simply dumping assets on the market. By investing 45,000 Ethereum, or $120 million, in the DeFi platforms Aave, Spark, and Compound on February 13, the foundation took action in response to the critiques. The move was hailed by the community as beneficial for Ethereum.

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