Vitalik Buterin On The Success Of Ethereum Protocols Like Tornado Cash, Uniswap and Kyber

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Ethereum founder Vitalik Buterin spoke on Ethereum-based protocols like Tornado Cash, Uniswap and Kyber.
  • Ethereum has also bought forth decentralized finance (DeFi) applications that hope to revolutionize finances and take it completely to the Ethereum blockchain.
  • Wertheimer compares Uniswap to Binance’s ecosystem that enables coin swapping, margin trading, lending, synthetics and allows for de-linking of transaction graphs, etc.

Ethereum founder Vitalik Buterin spoke on Ethereum-based protocols like Tornado Cash, Uniswap and Kyber in a Twitter post, attributing their success to their easier integration into existing workflows rather than trying to build their ecosystem.

Buterin went on to write that we needed more resources on Ethereum that were tools that aided current paths of work on Ethereum rather than trying to build new ecosystems on the platform.

One twitter comment pointed out that this aligns closely with the Unix philosophy of doing one thing and doing it well. This is exactly what Buterin is urging developers on Ethereum to work on to bring forth more consumer adoption to their work.

People would instead tend to integrate one or more tools that aid their work rather than try and get into an entirely new ecosystem whose most features would barely complement their work.

Whereas Buterin believes that more tools are what Ethereum needs, some disagree with him, like Reckless Review podcast co-host, Udi Wertheimer. Who commented in response to Buterin’s post that although Tornado Cash, Uniswap and Kyber are interesting tools to start with, they are definitely not successful when comparing on the larger scale.

Wertheimer compares Uniswap to Binance’s ecosystem that enables coin swapping, margin trading, lending, synthetics and allows for de-linking of transaction graphs, etc., to Uniswap that provides a lot of the same benefits but to a smaller audience.

Wertheimer believes that in the larger picture, despite how fascinating protocols like Uniswap can be, they will always be insignificant compared to giants like Binance. He concluded his response by saying that “ecosystem” developers are more likely to see “100x” more success on their platform.

Regardless of the success of protocols, Dapps and protocols built on Ethereum. Whether, as a tool or an ecosystem is seen as the best kind of investment for the future. With Ethereum being extrapolated as the top blockchain for years to come.

Dapps on Ethereum alone saw 1.2 million new users in 2019 alone with a strong growth pattern to the blockchain’s ecosystem. This is attributed to its extensive community and public trust with easy access to developing on the blockchain.

Ethereum has also bought forth decentralized finance (DeFi) applications that hope to revolutionize finances and take it completely to the Ethereum blockchain. Therefore, no matter how successful protocols like Kyber, Tornado Cash and Uniswap become, they will always be popular due to the new innovations they are bringing into the DeFi sector.

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