In a recent conversation that seemed like a war of words, the young Co-founder of Ethereum (ETH), Vitalik Buterin, challenged the authenticity of a statement that claims Binance DEX is decentralized.
He sentimentally claimed that Binance DEX is only decentralized by name, but not in reality per the services it offers to people.
Between Vitalik Buterin and Lina Seiche
He said, “Oh I’m pro- silly dances, the part I think is silly is criticizing Ethereum for being centralized and enabling ICOs and then turning around and promoting using a centralized token on top of a permissioned consortium chain that is doing an ICO.”
However, while the video contained no real attack against Ethereum blockchain technology, the series of criticisms the project had gotten from crypto pundits in the past may have spurred the reaction from the Co-founder Vitalik.
In a swift response, Lina Seiche, the Marketing Director at BTSE, tried to justify Binance. She said the real point of the criticism lies in the fact that Ethereum is decentralized when it’s clearly not.
She said, “If that was the core of their criticism, you’d see them talking about Binance the same way. I think the real criticism lies in claiming Ethereum is decentralized when it clearly isn’t. Liquid was never advertised as decentralized.”
Vitalik Buterin Claims Binance DEX, CZ Reacts
In response to Lina Seiche’s assertion, Vitalik Buterin claimed that Binance Dex is only decentralized when considering its name, but it’s more centralized in reality.
“The binance DEX claims to be a DEX right in the name, but it’s hardly decentralized. Seems like a way better target than ethereum, which merely has a few governance values that some BTC people don’t like,” Vitalik claimed.
Binance CEO, Changpeng Zhao, also known as CZ, responded claiming their argument is unnecessary. He implored them to get busy with building their respective projects for the growth and development of the blockchain and cryptocurrency industry.
While we focus on #buidling.
— CZ Binance (@cz_binance) December 23, 2019
What is Binance DEX?
Binance Decentralized Exchange (DEX) is an exchange launched by Binance on its native blockchain, Binance Chain. This decentralized exchange was purposely designed to enhance the growth of the community.
Binance DEX also aims at fostering the cryptocurrency industry’s long-time aim of taking P2P trading to the next level.