Co-founder of Ethereum, Vitalik Buterin has expressed his concerns on the absence of a synergy between the two largest networks in the market, Ethereum and Bitcoin. He revealed this via a tweet on March 24.
He referred to the lack of free flow between both networks as embarrassing and has proposed to work out modalities which would close the gap by developing a decentralized exchange (DEX). This would serve as a link between both networks.
Buterin explained the plans for the DEX as a model that is likened to Uniswap, an automated token exchange on Ethereum. It is an automated decentralized exchange which uses Ether pairs instead of running an order book.
A DEX that bridges the gap between Bitcoin and Ethereum could be a serious game-changer for decentralized exchanges especially because of their general liquidity inadequacy has stifled their market share for a long time.
Buterin also hinted on interoperability with other networks apart from Bitcoin. He hopes that with time, many others will be bridged on the DEX.
According to Buterin, Zcash just might be the next network to be onboarded. The Ethereum co-founder says he is already in talks with Electric Coin Company CEO Zooko Wilcox.
Earlier this month, Buterin expressed his support for privacy coins, saying that they will be a better option for people than central bank digital currencies (CBDC).
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
