Binance is the leading decentralized exchange has been the source of target for criticism when comapred with centralized exchange as per the announcement of Vitalik Buterin. In a recent discussion on Twitter, the co-founder of Ethereum Buterin started a wave argument over decentralization in the crypto industry especially Binance DEX along with Ethereum itelf.
Criticism Ethereum for centralzied nature is bad
Vitalki said that criticisng Ethereum for its centralized nature is bad. This whole discussion started when Buterin retweeted the promotional video of multi-currency asset and derivatives exchange BTSE on December 21. Though this video has no connection with Ethereum’s decentralization, the co-founder of Ethereym has put crypto industry on arguments by saying that – he thinks that it is inappropriate to criticse eteherum for centralization and allowing ICOs and then taking a turn to promting centralized token on to the leaidng group chain that is doing an ICO.
In this tweet, Vitalik talked about the Magical Crypto friends who used the BTSE palform for the promotional video, said by the BTSE’s Global marketing Director Lina Sceiche in a recent interview on Cointelegraph.
For the fact, Buterin mentioned that those Magical Crypto friends are criticisng ethereum for its centralized nature and allowing initial coin offerings (Icos). Later on it was added by the Sceiche that the main critcisim lies in the fact of claimming Ethereum for centralzied which is clearly noy and added that criticism of Ethereum opens the pathway to false advertising and also, mislead the people of building and investing in Ethereum.
Sciche also mentioned that the Liquid Network which is a federated sidechain of the Bitcoin blockchain is used by BTSE for the new token sale was never got advertisment as a decentralized. Call on Binance helpline number which is functional all the time for guidance and users can talk to the team for availing quality results. The team is always ready to assist you in every possible manner and always there to serve you the best solution.
Binance DEX is hardly decentralized
As per the Vitalik, Binance DEX, which is an exchange was was launched by Binance in 2019 is hardly decentralized and it just claimed to be decentralized. As per the reports of Whale Panda who tweeted in 2019 February that Binance DEX is DEX on the same level as JPM coin is a cryptocurrency.
Decentralization and crypto
Buterin is popualr for its postive view on centralization along with for intolerance for centralized crypto exchange. If we talk about 2018, the said that every crypto should focus on the better decentral paltfomms and on the other hand, centralized exchanges are refrained to burn in hell. Post his tweet, the CEO of Binance saif that there is no absolute decentralization and works with core teams of centralization. CZ said he is all there for decentralizationa nd freedom but he wouldnot wish for anything to burin in hell. Call on Binance customer service number which is functional always for guidance. Reach the team to get quality support and avail fruitful solutions.