Changpeng Zhao, the Chief Executive Officer of Binance, commented on the significance of decentralisation and the relationship it has with freedom and security on October 9th. Zhao noted that there are numerous dimensions of decentralisation and that this is part of a gradient scale, explaining the different ways in which even Bitcoin may be perceived as centralized.
There has been a great deal of discussion on the advantages that decentralisation offers bitcoin projects and the ways in which it sets certain ventures apart from others. The Chief Executive Officer of Binance, Changpeng Zhao, has expressed his thoughts on the significance of decentralisation and how its quality should not be the goal of a cryptocurrency project but rather a tool to accomplish numerous goals linked to the project.
According to Zhao, each of these elements has the potential to provide the appearance of centralization to a variety of projects, including Bitcoin, depending on what is being studied. In a similar manner, Zhao made a comment on the significance that centralised exchanges (CEXs) continue to have.
As per Binance CEO, the majority of people still utilise centralised exchanges as a method of protecting their bitcoin. This is because the majority of people are unable to protect their cash using the tools that are accessible today.
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