XRP and IOTA are Completely Centralized: Vitalik Buterin

Ethereum co-founder Vitalik Buterin spoke out on Monday against centralized projects associating themselves with the “crypto” ecosystem. 

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The founder called out IOTA and XRP in particular, which he called “completely centralized.”

  • In an interview with the Bankless podcast, Vitalik said he was beginning to deliberately use the word “Ethereum” as opposed to “crypto” when discussing decentralized applications. 
  • “It’s not maximalist,” he noted. “It’s more saying ‘we are not going to ally with you are a cryptocurrency by default.’”
  • Vitalik explained that it is very easy for certain parties to ally with the “crypto” ecosystem despite possessing very few of the qualities or values traditionally associated with it. 
  • “You don’t even need decentralization,” he continued. “I forget – has IOTA even gotten rid of their coordinator yet?”
  • He then jabbed XRP, calling the cryptocurrency “completely centralized” despite being listed on CoinMarketCap. He called out Ripple for lobbying the U.S. government to favor XRP over Bitcoin and Ethereum, claiming they were “China controlled.”
  • Bitcoin mining was indeed highly concentrated in China up until 2021, when the nation banned the practice. Mining is now most highly concentrated in the United States. 
  • Vitalik has also called out some of the Bitcoin community’s thought leaders over disagreements in the past, including Nayib Bukele and Michael Saylor. 

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