The co-founder of Ethereum (ETH) says the implosion of stablecoin issuer Terra (LUNA) earlier this year dealt a big blow to the decentralization of crypto.
In an interview with The New York Times, Vitalik Buterin says decentralization in the crypto space has been progressing in the right direction since the epic collapse of defunct digital asset exchange Mt. Gox in 2014.
According to Buterin, hacks involving centralized intermediaries spurred people to move toward a decentralized model when buying and selling crypto, which he notes was going well until the meltdown of Terra in May.
“And so you don’t need centralized intermediaries to hold things on the cryptocurrency side. And I think that actually has improved things. The times when it hasn’t improved things, probably the biggest one was the Terra LUNA collapse of a few months ago, which was interesting because I think there was a combination of two causes. One of them was that the mechanism behind Terra LUNA was just fundamentally...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...