Jeff Bezos can shut down the DeFi apps after a debate was raging on Twitter about the decentralized part of DeFi and whether it is or it is not so let’s find out more in our latest crypto news.
Many of the Defi and crypto industry top influencers waded in with their opinion on the highly charged subject and the ethos behind DeFi could remove the controlling element of a CEO or board of directors which dictates the movement of centralized finance like banks and exchanges. Looking at it from a technical standpoint, some believe that DeFi can never be truly decentralized. Using the principle of ETH and DeFi protocols which are not decentralized because of the web servers that they are based on, Bitcoin advocate Anthony Pompliano kicked off the whole thing with the incendiary tweet:
“Jeff Bezos could shut down most of these Ethereum-based “DeFi” apps by simply shutting off AWS.
You’re not decentralized if you just spin up servers with Uncle Jeff!
— Pomp 🌪 (@APompliano) October 7, 2020
Does Amazon Own The Web?”
Morgan Creek digital co-founder Anthony Pompliano asserted that Amazon owner Jeff Bezos can shut down the AWS servers that host a large number of ETH based DeFi platforms. According to a ZDNet, the report confirms that Amazon Web Services have the biggest slice of the cloud services market this year. He posted a question as to how many protocols are decentralized based on the premise and Camila Russo, was the one that responded first after looking into ETH node statistics and reporting that 70% of nods are hosted but they may not all be using the same service.
She added that Amazon servers host about 37% of the total which Pomp commented on, asking about Defi protocol smart contracts with centralized front ends. Erik Vorhees, the Shapeshift CEO commented as well:
“Most Bitcoin nodes also run on AWS … Because most servers of all kinds run on AWS.”
What followed was a huge discussion over the virtues of ETH nods over Bitcoin nods with no clear winners for the preferred digital asset. When Uniswap was mentioned, Hayden Adams commented that it is an immutable smart contract on ETH which he has no ability to shut down. One of the more amusing responses came from Compound’s finance founder Robert Leshner who said:
They’ll likely become a super fan.
The tenth time…
— 🤖 Leshner (@rleshner) October 8, 2020
“When a #Bitcoin influencer reveals their deep ignorance of how blockchains, smart contracts, and the #DeFi stack works *for the first time*, we should educate them and welcome them with open arms.”
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