Vitalik buterin, co-founder of Ethereum, expressed his views on the disaster of Terra Luna / USD and its algorithm stability currency collapse last week. In a twitter message on Saturday, Ethereum educator Anthony sassano suggested that the cryptocurrency industry should "stop experimenting" with Ponzi schemes, algorithm stabilization coins, yield farming and other "unsustainable mischief", and focus on blockchain applications in other areas such as decentralized identity and public product financing.
His post was supported by Butlin, who responded that he "very much agrees with this".
"We agree that the term 'REI / REI' is very different from the term 'REI' to make them stable," brin wrote
In Butlin's view, "algostable" is used as a propaganda term to compare unsecured stable coins with secured stable coins such as Dai / rai.
Dai is a stable currency based on Ethereum, which is managed by maker protocol MKR / USD and its decentralized autonomous organization.
"We need to really emphasize that the two are very different," Butlin said. A few weeks before the collapse of terrausd (UST) and its sister currency Luna, he had expressed his concern about the unsecured stable currency.
Earlier this year, Terra founder do Kwon boasted on twitter that the success of ust would be the end of Dai, saying "Dai will die in my hands."
