Paxful, a peer-to-peer (P2P) cryptocurrency exchange, will drop Ethereum trading from its platform on Dec. 22.
Paxful to Drop Ethereum Trading Due to Increased Centralization and Consensus Mechanism Pivot
Paxful, a New York-based, peer-to-peer cryptocurrency exchange, will drop Ethereum trading from its platform on Dec. 22. Ray Youssef, CEO of the company, cited different reasons for this decision, with increased centralization and the recent consensus mechanism pivot amongst them. Youssef also stated that tokens built on top of Ethereum have been primarily scams.Paxful, a New York-based, peer-to-peer cryptocurrency exchange, has announced that it will drop Ethereum from its platform.
was made via email, and then using social networks, by Paxful’s CEO Ray Youssef, who stated that the changes the token has undergone recently have changed it into a “digital form of fiat.”Youssef explained that one of the first reasons behind this action has to do with the pivot that Ethereum executed, changing from a proof-of-work consensus mechanism like the one Bitcoin also implements, to a proof-of-stake mechanism.
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