Vitalik Buterin's sharp attack against centralized cryptocurrency exchanges, which Buterin wished to “burn in hell,” did not make him wait long for an answer. The head of Binance explained why centralized trading platforms exist.

Zhao Changpeng, CEO of Binance, published in his Twitter a detailed response to Ethereum co-founder Vitalik Buterin, who earlier wished centralized crypto exchanges to “burn in hell.” Changpeng called for having "a bigger heart" and accepting the fact that centralized crypto exchanges are part of the whole ecosystem, and are not independent projects.

According to him, without fiat and centralized cryptocurrency exchanges, the market would not have such liquidity, capitalization, influence, the coin prices would be lower, and the industry as a whole would be smaller and would develop 10 times slower.

“Decentralization is a means, not an end. The goal is to increase freedom, and choice. Let people choose what they want. At the moment, more people seems to choose centralized exchanges over decentralized one, and there are good reasons for it.”

Absolute decentralization does not exist, Changpeng continues. Crypto projects have core development teams, and this is also centralization. Changpeng recalled that Vitalik enjoyed his reputation in the market, acted as an adviser in various cryptocurrency projects, and therefore to some extent decided their fate, and this is an example of centralization.

Decentralization does not imply a higher degree of security by default.

According to Changpeng, it is better if a community of 1.2 billion people moves slowly towards decentralization than if a community of a dozen geeks makes a leap in this direction.

“Don't get me wrong, I am all for blockchain/decentralization/freedom. But I would not wish "burn in hell" on anyone or anything. That's just not a nice thing to say, even if it was said by Vitalik. I didn't bother asking him yet, I assume he just meant he don't like centralization, which is fine.”