The internet entrepreneur and former CEO of Twitter, Jack Dorsey, claims if developers are building on Ethereum they have “at least one, if not many, single points of failure.” The statement was in response to Vitalik Buterin’s commentary concerning Elon Musk running Twitter.
Ex-CEO of Twitter Criticizes Projects Building On Ethereum
Jack Dorsey doesn’t seem to be interested in anything to do with the Ethereum network, and last Friday he criticized the project. The Twitter conversation started when Ethereum’s co-creator, Vitalik Buterin, talked about Elon Musk running Twitter. “[I] don’t oppose Elon running Twitter (at least compared to status quo), but I do disagree with the more generalized enthusiasm for wealthy people/orgs hostile-takeovering social media firms,” Buterin tweeted. “That could easily go *very* wrong (eg. imagine an ethically-challenged foreign gov doing it).”
Following Buterin’s tweet, Dorsey replied “same,” and further said: “[I] don’t believe any individual or institutions should own social media, or more generally media companies. It must be open to all and transparent. Everything is a step toward that.” After Dorsey’s statement, a project called the Deso protocol responded to his remarks. Deso explained that the Deso protocol’s vision for “the future of social media,” was similar to the former Twitter CEO’s vision.
Dorsey responded. explainedHe stated that he believes the Ethereum protocol is susceptible to one, or even several, points of failure. “If you’re building on [Ethereum] you have at least one, if not many, single points of failure and therefore not interesting to me,” Dorsey said.
Laser-Eyed Tribalism & Valid Web3 Criticism
The former social media chief executive’s opinion had all kinds of responses, some of which agreedwith him and those who didn’t. “You really need to get away from the laser-eyed morons, Jack,” one individual saidDorsey. “This is just embarrassing,” the person added.
Bitcoin proponent Jeff Booth, author of the book “The Price of Tomorrow: Why Deflation is the Key to an Abundant Future,” agreed with Dorsey’s criticism about Ethereum. “More entrepreneurs are going to figure this out the hard way over the coming years,” Booth said in response to Dorsey’s tweet. “Building on quicksand is a terrible long-term strategy,” Booth added. However, software developer and former Slock.it executive, Christoph Jentzsch, disagreed with Booth’s opinion.
“If you are building on the [Ethereum] protocol, no,” Jentzsch said. “If you are building with a sole dependency on Infura, Metamask and some others, then yes. [The]The same applies to [Bitcoin],” Jentzsch added. Jentzsch’s projects, as well as many aspects of Web3 technology in general, were widely discredited. Dorsey has even made such remarks. Web3 hype criticizedThe past.
MoxieMarlinspike, the computer security researcher and cryptographer who reviewed Web3, wrote a thorough review that highlighted a variety of Web3 vulnerabilities. This included non-fungible tokens (NFTs), decentralized application (dapps) and Web3 itself. Despite valid Web3 criticism, Dorsey’s tweet did not get into any specifics concerning so-called single points of failure. It was very general and only mentioned that Dorsey was not interested.
What do you think about Jack Dorsey’s opinion about those who are building with Ethereum? Do you think Dorsey is right? Please comment below on your views.
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