Jack Dorsey criticized ETH because of its “many single points of failure” but he has already done it before so let’s read more today in our latest Ethereum news.
The Twitter co-founder and Block CEO Jack Dorsey criticized ETH over the weekend saying that the blockchain has many single points of failure and all projects built on it are not interesting to him. Dorsey is not known for being Twitter timidity and he dragged the Robinhood trading app and the CEO Vladimir Tenev but he jumped on a crypto thread by the Musician Cardi B to blast the Web3 venture capital firms.
if you’re building on ETH you have at least one, if not many, single points of failure and therefore not interesting to me.
— jack (@jack) April 19, 2022
Dorsey is a proud BTC supporter and says that other cryptocurrencies don’t factor in at all. Last summer, he said “no” when someone tweeted that it was only a matter of time before the block CEO invested in ETH a month and a half later and shared his anti-ETH tweet. Dorsey’s criticisms of the world’s second-biggest crypto remained obscure and it all started with a tweet from Vitalik Buterin.
Buterin referred to the Tesla CEO Elon Musk’s recent purchase of a 9.2% stake in Twitter that a few people including Jackson Palmer think can lead to a takeover. Buterin wrote that his is not opposed to the principle of Musk taking over but he fears the move will set a dangerous precedent for the less liberal individuals and organizations. He claimed:
“I’m [sic] don’t believe any individual or institutions should own social media, or more generally media companies. It should be an open and verifiable protocol. Everything is a step toward that.”
Deso, as the crypto-based social netowrk known as Bitcoin, jumped on the thread to do some self-promotion and jack replied that if DESO is an ETH protocol, he is not interested but fortunately, Deso is not based on ETH. Before leaving Twitter, Dorsey wanted to design a new decentralized standard for social media platforms to conform to and in 2019, he founded a new initiative called “Blue Sky” led by the CTO of Twitter Parag Agrawal.