A developer in the DeFi space has said that DeFi platforms might leave Ethereum very soon with a move into centralized platforms very likely.
The developer, Udi Wertheimer, who works as a consultant as well gave his opinion in an interview that was hosted by former MMA fighter, Ben Askren and John Kim, an executive in the Litecoin foundation. In the interview, Udi touched sensitive areas of the crypto space especially the recent decline in the general price of assets in the market.
He pointed to DeFi as the emerging gold on the crypto market and he explained the reason why the sector made a small decline in the past weeks while noting that it could make an appearance on centralized platforms very soon.
Centralized platforms would be faster than DeFi sector, developer says
Asides the fact that he works on developing applications, Udi has been known as a constant critic of Ethereum which he feels is too slow to process transactions. He said the platform was not good enough for DeFi as he also bashed Vitalik Buterin and Joe Lubin who are both co-founders of the network.
In my candid opinion, DeFi is not decentralized because it has someone on the inside that is overseeing its activities.
Giving a typical example, he mentioned the recently launched Sushi token which he claims doesn’t even exist which means someone is making the moves in the background which cannot happen in centralized platforms.
Udi says control of DeFi tokens means it is not decentralized
Another example of the control according to Udi is the yearn.finance platform which saw its price make a massive surge of $30,000 before losing a part of its value. He said even though he feels the project is superb, that is not enough as the founder of the token Andre Cronje is in control of the activities of the token.
He also noted that with the way things are moving, DeFi might get out of Ethereum because of its cheap and fast nature and move to centralized platforms. Furthermore, he said he has lost the zeal for blockchain technology because of the happenings around the DeFi space.