Bitcoin is the only decentralized currency, Tether CEO Paolo Ardoino says in a startling revelation. According to the man, who is in charge of the most influential stablecoin, Bitcoin is unique among the more than 14,000 various cryptocurrencies because it is the only one that is not centralized.
An unexpected - if not to say sensational - statement was made by Ardoino during his interview with Cointelegraph.
“Bitcoin is the only example of a currency that is only ruled by math that basically cannot be changed,” Ardoino stated.
He added that some some cryptocurrencies are a bit more centralized or others are a bit less centralized, yet Bitcoin is the one that is not contolled by anyone in particular.
“With the other currencies, you see that there is a group of developers that come every month. They are coming out with a new software release, they change the monetary policy, inflationary, deflationary, and they keep changing things,” Ardoin explained.
But no substantial changes can be made to Bitcoin blockchain. There will always be no more than 21 million Bitcoin. And there will be a halving, which affects mining profits once every four years, until all 21 million bitcoins are mined, Ardoino stated.
“Bitcoin is about certainty. It’s like a clock keeps ticking keeps ticking forever [...] When it comes to the concept of unstoppable products, or decentralized — because everyone uses the term ‘decentralized’ — there is only Bitcoin,” Tether CEO concluded.
To Ardoino's credit, he openly admitted that Tether is centralized, unlike Bitcoin. He also stated that his opinion on Bitcoin's exclusive level of decentralization “might be controversial.”
It's not often that we get to see such examples of candour from executive managers in the cryptocurrency market.