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Tuesday, February 7, 2023
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    HomeBlockchainCreating centralised products defeats the purpose of using blockchain, says MyEtherWallet's CEO

    Creating centralised products defeats the purpose of using blockchain, says MyEtherWallet’s CEO

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    • MyEtherWallet’s CEO believes that blockchain know-how ought to be used to buid decentralised merchandise.

    • The CEO added that MyEtherWallet stays a decentralised pockets as a result of that’s one of the best ways to make use of blockchain know-how.

    • He added that MyEtherWallet doesn’t have plans to do an airdrop but.

    Decentralisation is how blockchain ought to be used

    Kosala Hemachandra, CEO of MyEtherWallet, instructed Cointelegraph in a recent interview, that he believes blockchain know-how ought to be used for decentralised functions.

    In keeping with the CEO, creating centralised merchandise defeats the aim of utilizing blockchain technology. He mentioned;

    “Blockchain, at its core, is a decentralised answer, so why would we create merchandise which are centralised? As a result of we’re defeating the entire goal of utilizing blockchain.”

    Self-custody has been gaining traction within the cryptocurrency area for the reason that collapse of the FTX crypto exchange two months in the past. 

    MyEtherWallet stays one of many oldest noncustodial wallets within the Ethereum ecosystem. In keeping with the CEO, the pockets went dwell roughly two weeks after the Ethereum mainnet launch. 

    He added that the corporate continues to function as a decentralised pockets as a result of it believes it’s the solely correct method to make use of blockchain know-how. 

    MyEtherWallet not planning on doing an airdrop quickly

    Hemachandra revealed that MyEtherWallet isn’t planning on doing an airdrop or launch its token quickly. The CEO mentioned the corporate doesn’t see any use case for their very own tokens in the meanwhile. 

    Nevertheless, the corporate is engaged on sure options to allow it to compete with Meta Masks, one other main Ethereum-focused pockets.

    MyEtherWallet will likely be including assist for extra blockchain networks, and it not too long ago launched a multichain browser extension. The CEO revealed that MyEtherWallet recorded a surge in customers following the FTX saga as customers search for decentralised options to storing their belongings. 

    For the time being, MyEtherWallet has greater than three million customers, most of them in the USA and Japan. 



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