Block Inc (NASDAQ:SQ) CEO Jack Dorsey has once again voiced criticism against Ethereum (CRYPTO: ETH), the second-largest cryptocurrency by market cap.
What Happened: In a Twitter Inc (NYSE:TWTR) post on Monday, Dorsey pointed to the “many” single points of failure allegedly encountered when building on Ethereum as the reason for not being interested in the network.
if you’re building on ETH you have at least one, if not many, single points of failure and therefore not interesting to me.
— jack� (@jack) April 19, 2022
See Also: HOW TO BUY ETHEREUM (ETH)
Dorsey’s comments came as part of a response to Decentralized Social (CRYPTO: DESO), a blockchain network that aims to power web 3 decentralized social networks.
DeSo invited Dorsey to take a closer look at its protocol after the former Twitter CEO said that he doesn’t believe social media should be owned by any individual or institution, but rather, it should be an open and verifiable protocol.
“if you’re building on ETH you have at least one, if not many, single points of failure and therefore not interesting to me,” he said.
Dorsey’s comments denouncing ETH are part of a Twitter thread created by Ethereum co-creator Vitalik Buterin.
same
— jack� (@jack) April 16, 2022
Last week, Dorsey agreed with Buterin when the latter stated that he wasn’t opposed to Tesla Inc (NASDAQ:TSLA) CEO Elon Musk running Twitter but opposes “generalized enthusiasm” for wealthy people or organizations taking over social media firms.
Price Action: According to data from Benzinga Pro, ETH was trading at $3,040, up 1.71% in the last 24 hours.
