Telegram’s founder Durov bashes Ethereum as ‘outdated’ announces non-custodial wallets and DEX based on TON

11/30 15:38

The founder of Telegram Pavel Durov published a post today on his official Telegram channel in which he said that the new Fragment platform has had a good launch, and also peeked into Telegram's future plans. Durov said that Fragment “has been an amazing success, with 50 million USD worth of usernames sold there in less than a month”. At the same time, he announced that “this week, Fragment will expand beyond usernames” hinting that it would be possible to trade something else on the platform. “Telegram's next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies. This way we can fix the wrongs caused by the excessive centralization, which let down hundreds of thousands of cryptocurrency users,” he wrote. In his opinion, for the industry to grow in healthy way, “blockchain-based projects should go back to their roots – decentralization”. “The blockchain industry was built on the promise of decentralization but ended up being concentrated in the hands of a few who began to abuse their power. As a result, a lot of people lost their money when FTX, one of the largest exchanges, went bankrupt,” said ex-CEO of Vkontakte social network. “Cryptocurrency users should switch to trustless transactions and self-hosted wallets that don't rely on any single third party.” Continuing his discontent with the excessive centralization seen in the industry, the head of Telegram bashed Ethereum. In addition, he stressed the need to build fast and easy-to-use decentralized applications for the masses.

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