 | In a tweet, Vitalik Buterin commented on how stablecoins are way too centralized and, therefore, make Ethereum more centralized. He further added that these centralized coins now dominate the entire DeFi volume, effectively centralizing the market. USDC, USDT, and other stablecoins now have the ability to freeze wallets based on suspicion. Vitalik prefers new algorithmic stablecoins backed by a cryptocurrency such as Bitcoin or Ethereum. Since 2022, following the Terra USD crash, algorithmic stablecoins have become less popular, with most moving towards an asset-backed model. Read Full Article on BFM TIMES [link] [comments] |
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