EUR/USD 1.15637
0.144%
Gold 4003.94
0.678%
Oil 59.676
0.470%
USD/JPY 153.426
0.241%
GBP/USD 1.31627
0.193%
GBP/JPY 201.955
0.452%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
November 9th - Trump: I am pleased to announce that the great attorney John Coale has been nominated as the U.S. Special Envoy to Belarus. He has successfully facilitated the release of 100 hostages and is working to secure the release of another 50. I would like to express my sincere gratitude in advance to the esteemed President Lukashenko of Belarus for considering the release of these additional hostages.U.S. Treasury Secretary Bessant: Substantial progress is being made on the inflation issue, and prices are expected to fall in the coming months.On November 9th, local time, Ukrainian President Volodymyr Zelensky signed a new sanctions decision, imposing sanctions on several Russian government officials and institutions. Ukraine called on the international community to increase pressure on Russia and sanction all individuals and organizations that fund war and spread disinformation. Ukraine stated that this round of sanctions includes "Russian government members involved in the plunder of occupied Ukrainian territories" and personnel from Russian military intelligence. Ukraine also plans to take further measures against publishing institutions within Russia engaged in war propaganda and defense of aggression. According to Ukrainian sources, the sanctions list includes individuals such as Russian Presidential Special Representative Kirill Dmitriev.Iraqs State Oil Marketing Organization (SOMO) announced that Iraq has set its official selling price for December Basra medium crude oil to Asia at a discount of $0.35 to the average price of Oman/Dubai crude oil.November 9th - According to Japans TBS News, a 5.6-magnitude earthquake struck off the eastern coast of Honshu, Japan, at 6:28 PM local time on the 9th, with a focal depth of 10 kilometers. The epicenter was located off the coast of Sanriku, and Morioka City in Iwate Prefecture experienced noticeable tremors with an intensity level of 3. A 6.7-magnitude earthquake had just struck the same area at approximately 5:03 PM local time on the 9th, triggering a tsunami. According to the latest observations, the tsunami has reached several locations in Iwate Prefecture, including Miyako, Kuji Port, and Ofunato. No casualties have been reported so far.

“Ethereum Has Many Points of Failure”: Says Former Twitter CEO

Skylar Shaw

Apr 22, 2022 09:51

Building on Ethereum, according to Jack Dorsey, has a lot of failure spots.


He also remarked that he believes social media should not be controlled by the wealthy.


As an institutional investment asset, Ethereum has underperformed this year.


Two of the most powerful Twitter influencers weighed in on Elon Musk's bid to acquire the social media behemoth Twitter in a Twitter debate.


In response to one of these posts, Ethereum was chastised for not being the best blockchain for creating a decentralized social media platform.

"Not Ethereum," Dorsey Says

Former Twitter CEO Jack Dorsey, in response to a tweet from Ethereum inventor Vitalik Buterin, expressed similar sentiments on Buterin's stance that rich people or companies should not hostilely seize social media.


The remark was made in response to Tesla CEO Elon Musk's $41 billion deal to purchase Twitter.


While Dorsey consented to this, he was provoked by another response from 'DeSo,' an ostensibly decentralized social media system. "If you're building on ETH, you have at least one, if not many, single points of failure and hence not attractive to me," Dorsey stated in response to DeSo's presentation.


When told that it wasn't based on Ethereum and that it was a Layer-1 protocol controlled by a 'Foundation' rather than a 'Corporation,' Jack simply answered, 'a foundation is a single point of failure.'


As a Bitcoin maximalist, Jack has always been outspoken about his crypto opinions, and they don't seem to be side with Ethereum at the moment.


But he isn't the only one who isn't a fan of Ethereum at the moment; institutional investors haven't been showing much interest in the cryptocurrency king.


According to the CoinShares fund flow data for the week ending April 15, Ethereum once again failed to make a difference in the market, with outflows totaling $97.3 million.


During the week, Ethereum had the second biggest outflow of $27.1 million, behind only Bitcoin with $72.1 million.


However, in terms of year-to-date flows, Ethereum is the worst-performing asset, with $153 million withdrawn, compared to $145 million pouring into the king currency.


Although the recent market rebound may boost interest in the asset in the coming weeks, the present picture is consistent with Dorsey's assessment of Ethereum as a poor investment vehicle and Dapp network.

Suggestion