Internet entrepreneur and former Twitter CEO Jack Dorsey stated that if developers are building on Ethereum they have “at least a single point of failure, if not many“. This statement is in response to Vitalik Buterin’s comment regarding Elon Musk running Twitter.
Former Twitter CEO criticizes projects built on Ethereum
Jack Dorsey doesn’t seem interested in anything related to the Ethereum network but last Friday he criticized the project. The root of the conversation was that Ethereum co-founder Vitalik Buterin discussed Elon Musk running Twitter as reported by Bitcoin Magazine.
“I am not against Elon running Twitter (at least compared to the status quo), but I do not agree with the hostile takeover of the social media company by wealthy individuals/organizations. That can easily lead to mistakes (i.e. imagine a foreign government doing it unethically).”
After Buterin’s tweet, Jack Dorsey briefly replied “same” and added:
“I don’t think any individual or organization should own social networks or media companies in general. It should be an open and verifiable protocol. Everything is a step towards that.”
Following Dorsey’s statement, the Deso Protocol project responded to his comment. Deso explains that Deso Protocol’s vision for the “future of social media” is similar to that of the former Twitter CEO.
In response, Jack Dorsey said that in his opinion, Ethereum has one and even more unique points of failure.
“If you are building on Ethereum, you have at least one single point of failure, if not many and therefore are not interesting to me,” Dorsey said.
“Laser-eyed” tribalism and the right criticism of Web3
The opinion of the former social network CEO received a lot of responses both in favor and against. One individual told Jack Dorsey:
“You really need to stay away from idiots with laser eyes, Jack. This is shameful.”
Bitcoin proponent Jeff Booth, author of the book “Price of Tomorrow: Why Deflation is the Key to a Well-Being Future,” agrees with Dorsey’s criticism of Ethereum.
“Many entrepreneurs will find the road difficult in the years to come. Building on an unstable foundation is a terrible long-term strategy.”
However, software developer and former Slock.it CEO, Christoph Jentzsch, disagrees with Booth’s comments.
“If you are building on top of the Ethereum protocol, no. If you are building a single dependency on Infura, Metamask,..then yes. The same is true for Bitcoin,” Jentzsch added.
The projects Jentzsch mentions and many other aspects of Web3 technology have been heavily criticized, and Dorsey herself has criticized the hype of Web3 in the past.
In the first week of January, cryptography and computer security researcher, Moxie Marlinspike, published a specific review of Web3, explaining in great detail some of the vulnerabilities associated with NFTs, non-compliant applications. centralized (dapp) and Web3 in general. Despite Web3’s valid criticism, Dorsey’s tweet didn’t go into any specifics regarding the single point of failure. The tweet was very vague and simply noted the former Twitter CEO was not interested in such projects.