Key Takeaways
- Ethereum co-founder Vitalik Buterin reveals skepticism on Jack Dorsey’s TBD DEX
- Buterin highlights that Bitcoin lacks the same smart contract functionality as Ethereum
- Dorsey is seen as a bitcoin maximalist and has spoken positively about the leading coin
Buterin made his opinions known in a recent interview with US news outlet Bloomberg.
According to Buterin, the technical infrastructure of Bitcoin could pose a problem for the implementation of the DEX.
He noted that Ethereum was developed with the functionality that allows developers to place ETH or ERC tokens into smart contracts and set rules on how the assets are released.
Buterin added that Bitcoin lacks the functionality, and Dorsey would have to create a system that simulates the rules.
This, he believes, would mean a weaker trust model for the DEX and could be problematic.
Dorsey is yet to provide important details about the TBD DEX but hinted that it would be completely decentralized and permission less like other DEXes in the crypto space.
Dorsey is considered a Bitcoin Maximalist and has always had positive things to say about the leading cryptocurrency.
He is noted to be impressed with the decentralization and resilient features of Bitcoin in the past decade.
Dorsey has also been quoted saying that he believes that bitcoin has the potentials to become the currency of the internet.
Reports this week also stated that Dorsey’s company Twitter is testing a tipping service that will allow users to tip with bitcoin via the lightning network.
Bitcoin is not seen as a major choice for DEX due to the slow confirmation times and scalability limitations.
Ethereum, Binance Smart Chain, and Polygon are the major blockchains that many developers choose to build decentralized exchanges.
What are your thoughts on Vitalik Buterin statements?
