Vitalik Buterin, co-founder of Ethereum, said centralized stablecoins such as Tether (USDT) and Circle USD (USDC) could become “a key arbiter in a controversial hard fork in the future.”
Buterin spoke at the BUIDL Asia conference in Seoul on August 3 with Near Protocol (NEAR) co-founder Illia Polosukhin to discuss Ethereum’s upcoming merge.
The Ethereum co-founder argued that centralized stablecoins could be a “key” determinant of which blockchain protocol the industry will use. “Choose into consideration” in hard fork
A hard fork occurs when the protocol of the blockchain network is radically changed. This results in two versions of the chain, usually with one chain becoming more desirable than the other.
At that point you will have 100 billion USDT in one chain and 100 billion USDT in another chain. [Tether] One has to consider that one chain,” Buterin explains.
However, Buterin said he “did not see any indication” that the controversy would be a problem for the upcoming Ethereum merging. Noting that the centralized stablecoin issue is more of a concern for future hard forks.
“In the future That will certainly become more of a concern. which basically The fact that USDC’s decision to consider which chain as Ethereum could become an important deciding factor in a controversial hard fork in the future.”
Merge is one of the most important technical updates to Ethereum since its inception. due to moving from proof-of-work (PoW) is proof-of-stake (PoS).
The post Vitalik Buterin said that centralized stablecoins such as USDC , USDT will be a key arbiter in future hard forks appeared first on Bitcoin Addict.