Ethereum co-founder Vitalik Buterin has voiced his concerns about a growing trend in the crypto space—embracing gambling on the blockchain.He believes some people are unfairly criticizing Ethereum because it does not openly support blockchain-based casinos.
In a recent discussion, Buterin called this shift a “moral reversal” and said it could change how the crypto community operates.
Buterin Criticizes Growing Acceptance of Gambling in Crypto
On Feb. 20, Buterin participated in an Ask Me Anything (AMA) session, where he was asked about his frustrations with the crypto industry over the past year.
He pointed out that one of the most disappointing things for him was the backlash against Ethereum for not supporting gambling platforms.
Ethereum co-founder Vitalik Buterin’s post at the decentralized social network Tako. Source: TakoPerhaps the most disappointing thing for me recently was when someone said that Ethereum is bad and intolerant because we don’t respect the ‘casinos’ on the blockchain enough, and other chains are happy to accept any application, so they are better.
Buterin said.
He warned that if the crypto community continues to embrace this mindset, he may not want to be part of the blockchain space anymore.
His comments shows a growing divide in the industry. Some blockchains are willing to accept any application, including gambling and high-risk financial products. Ethereum, however, has been selective about the types of projects it supports.
Ethereum’s Values Still Strong, Buterin Says
Despite the online criticism, Buterin said that real-life interactions with Ethereum community members have reassured him. He believes that many people in the space still hold onto the original values of blockchain technology.
He emphasized that he feels responsible for the Ethereum community and cannot simply walk away. Instead, he urged developers and users to work together to shape the future of Ethereum based on shared principles.
Buterin also hinted that the Ethereum Foundation may become less neutral in the future. Instead of supporting all blockchain projects equally, the Foundation could focus on funding projects that align with Ethereum’s core mission.
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Ethereum Foundation Faces Scrutiny Over Funding Moves
Buterin’s statements come at a time when the Ethereum Foundation is making changes to how it handles its funds.
On Jan. 20, some community members criticized the Foundation for selling ETH to fund its operations. Critics argued that this approach was unnecessary since Ethereum has many decentralized finance (DeFi) options that could provide funding without selling ETH on the market.
To address these concerns, the foundation deposited 45,000 ETH (worth about $120 million) into DeFi platforms like Aave, Spark, and Compound on Feb. 13. This move was well received by the community. Many saw it as a better way to use funds without affecting ETH’s market price.
The Foundation has also started looking into staking options to generate funding and has invited the community to suggest new ideas.
The post Ethereum Co-founder Vitalik Buterin May Leave Blockchain Space If Gambling Becomes the Norm appeared first on Coinchapter.
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