Vitalik Buterin suggested using stablecoins to transfer assets between blockchains
Ethereum co-founder Vitalik Buterin believes stablecoins can be successfully used to move assets between different blockchains.
During a discussion with crypto enthusiast Udi Wertheimer on Twitter, Buterin wrote: “In certain cases, stablecoins backed by an issuer can be used for many purposes, but are not yet used. For example, any stablecoin can become a direct bridge between the chains “.
Wertheimer noted that this is already possible thanks to the presence of exchanges where the user can deposit, for example, the Ethereum version of USDT into the wallet, and withdraw the Omni or Tron version..
Buterin has long advocated excluding intermediaries from the cryptocurrency ecosystem and replacing them with decentralized mechanisms. He also outlined this point of view in the last discussion: “Of course, I would like them, USDC and others to agree on a standardized API (perhaps a ‘binding contract’). Then I won’t have to worry about using Binance to move coins. “.
According to Wertheimer, decentralization is not of paramount importance for most cryptocurrency users, so they will prefer the most convenient method of connecting different systems..
Tether CTO Paolo Ardoino noted that specialized companies should be engaged in solving interoperability problems, not issuers of stablecoins. “This is a common problem that covers all tokens of all blockchains. Tether is a consultant to projects that are trying to solve this problem. We take an active part in this process, but we do not develop such a solution ourselves, “he explained..
Ardoino also stressed that the main obstacle to ensuring the compatibility of various blockchains is the possible implications for their security, which must be considered when putting forward such proposals..