Jack Dorsey Claims if 'You’re Building on Ethereum You Have at Least One, if Not Many, Single Points of Failure'

Jack Dorsey claims that if you build on Ethereum you have at least one, if not many, point of failure – Bitcoin News

Jack Dorsey, an online entrepreneur and former CEO of Twitter, claims that if developers rely on Ethereum, they have “at least one, if not many, points of failure.” The statement came in response to Vitalik Buterin’s comment regarding Elon Musk’s operation of Twitter.

Ex-Twitter CEO Criticizes Projects Based on Ethereum

Jack Dorsey does not appear to be interested in anything to do with the Ethereum network, and criticized the project last Friday. The Twitter conversation started when Ethereum co-founder Vitalik Buterin spoke about Elon Musk running Twitter. “[I] I’m not against Elon running Twitter (at least compared to the status quo), but I don’t agree with the more general enthusiasm of the wealthy/hostile establishments of social media companies,” Buterin chirp. “This could be *very* wrong (eg imagine a morally opposing foreign government doing this).”

After Buterin’s tweet, Dorsey replied “The same,” he further said, “[I] Do not think that any individual or organization should own social media, or in general media companies. It should be an open and verifiable protocol. Everything is a step towards that.” After Dorsey’s statement, a project called the Deso Protocol responded to his remarks. Deso explained that the Deso Protocol’s vision for the “future of social media” was similar to that of the former CEO of Twitter.

In response, Dorsey to explainIn his opinion, the Ethereum protocol has a single point and possibly many single points of failure. “If you are building on [Ethereum] “You have at least one, if not many, points of failure, and so it’s not very interesting to me,” Dorsey said.

Laser-eyed tribalism and good web 3 critique

The opinion of the former social media CEO has received all kinds of responses, some agreed With him and with others who did not. “You really need to stay away from laser-eyed fools, Jack,” one individual She said for Dorsey. “It’s just embarrassing,” the person added.

Bitcoin supporter Jeff BoothD., author of The Price of Tomorrow: Why Deflation Is the Key to an Abundant Future, agreed with Dorsey’s criticism about Ethereum. “More entrepreneurs will find this out the hard way over the coming years,” Booth She said In response to Dorsey’s tweet. “Building on quicksand is a terrible long-term strategy,” Booth added. However, Christoph Jentsch, a software developer and former CEO of Slock.it, disagreed with Booth’s opinion.

“If you are building on [Ethereum] “Protocol, no,” Jentzsch said. “If you’re building solely on Infura, Metamask, and some others, then yes. [The] The same is true for [Bitcoin]Jentzsch added. The projects Jentzsch mentioned and many other aspects of Web3 technology have been greatly underrated and Dorsey himself has done just that. Web3 hype slammed In the past.

One specific review of Web3, published during the first week of January, by cryptographic expert and computer security researcher, Moxie Marlinspike, details in great detail a number of vulnerabilities associated with non-fungible tokens (NFTs), decentralized applications (dapps), and Web3 in general. Despite the correct Web3 criticism, Dorsey’s tweet did not go into any detail regarding the so-called individual points of failure. The tweet was very vague and simply noted that the former CEO of Twitter was not interested in such ventures.

Tags in this story

Block CEO, Christoph Jentzsch, Decentralized Social Media, Deso, Deso Protocol, Dorsey, Elon Musk, Ethereum, Ethereum (ETH), Ethereum Development, Former CEO of Twitter, Jack Dorsey, Jeff Booth, metamask, Moxie Marlinspike, NFTs , Slock.it Executive, Social Media, Software Developer, Vitalik Buterin, Vitalik Buterin ETH, Web3, Web3 Cash

What do you think of Jack Dorsey’s opinion of those building with Ethereum? Do you agree with Dorsey? Tell us what you think about it in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at Bitcoin.com News and a technology financial journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

photo credits: Shutterstock, Pixabay, Wiki Commons

Not giving an opinion: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Leave a Comment

Your email address will not be published.