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Leading a subsection of the Decentralized Finance (DeFi) ecosystem does not guarantee being labeled as a decentralized asset; Ripple‘s esteemed CTO David Schwartz commented on Uniswap (UNI).
What Does Ripple’s CTO Say?
According to Ripple’s CTO, Uniswap is not decentralized and there are comments suggesting that many commentators believe the decentralized exchange (DEX) protocol is derogatory. The debate about the platform’s decentralization emerged on Twitter, where an ongoing debate is taking place about whether open-source protocols are decentralized.
Referring to his previous arguments on the subject, Ripple’s CTO claimed that a decentralized exchange whose basic technology is not open source cannot necessarily be accepted as decentralized.
David “JoelKatz” Schwartz made the following statement on June 14, 2023:
Uniswap is not decentralized either.
Expanding on his views on the subject, Schwartz believes Uniswap Labs chose not to open source the V3 engine because the governance model that came with V1 and V2 branches had a generally lesser impact on it.
Ongoing pressures on crypto platforms by the U.S. Securities and Exchange Commission (SEC) have led to a new awakening among organizations that could be considered common assets expected to make a profit through their actions for users. While the determination of a common interest under the Howey Test is open to a wide range of interpretations, crypto companies and communities are largely aiming to stay on the right side of the law.
Proposed Uniswap V4 Engine
According to Ripple’s CTO, even though the Uniswap V3 engine is not as centralized as many people think, the introduced V4 engine needs to improve the shortcomings of the previous versions. Among the features that the Uniswap V4 engine will highlight is the ability to build publicly and receive feedback that can guide the development of the protocol before launch.
Uniswap’s development was very fast and in addition to being the pioneer of the Automated Market Maker (AMM) engine that most DEXs use, the protocol maintains the largest trading volumes among all relevant outfits in the sector today.
