Ethereum co-founder Vitalik Buterin says that centralized stablecoins like Circle's USDC have the potential to become “significant deciders” in future 'contentious' hard forks.
The Ethereum co-founder argued that centralized stablecoins could be a “significant” decider of which blockchain protocol the industry would “respect” in hard forks.
“At the moment of the merge, you will have two [separate] networks […] and then you have exchanges, you have Oracle providers, you have stablecoin providers that are kind of deciding in a way, which one they respect.” However, Buterin stated he “had not seen any indication” that such a contention would be an issue in Ethereum's upcoming Merge, noting that the centralized stablecoin issue is more of a concern for future hard forks.
He added that in the next five to ten years, Ethereum may see more contentious hard forks where centralized stablecoin providers could carry more weight.
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