“Ethereum has many weaknesses”: Says the former Twitter CEO

In a Twitter discussion, two of the biggest influencers shared their take on Elon Musk's proposal to buy social media giant Twitter.

In response to one of these threads, Ethereum took a hit for not being the most ideal blockchain for building decentralized social media.

"Not Ethereum," says Dorsey

Responding to a tweet from Ethereum's own founder Vitalik Buterin, former Twitter CEO Jack Dorsey shared similar views on Buterin's statement that wealthy individuals or organizations should not take on social media hostile.

The statement was in the context of Tesla's CEO offer (Tesla shares - TSLA ticker) Elon Musk to buy Twitter for 41 billion dollars.

While Dorsey agreed with this, another response from an apparent decentralized social media protocol, 'DeSo', triggered it. Responding to DeSo's launch, Dorsey said:

"If you are building on ETH you have at least one, if not many, single points of failure and therefore it is not interesting to me. (Sic)".

When further assured that he was not building on Ethereum and was a Layer-1 protocol owned by a "Foundation" and not a "Corporation", Jack simply replied that "a foundation is a single point of failure" .

Being a Bitcoin maximalist, Jack has always been vocal about his views on cryptocurrencies, and at the moment, they don't seem to be siding with Ethereum.

But he is not the only one who is not in support of Ethereum at the moment, as on the investor front, even the king of altcoins has not noticed many preferences.

"Not Ethereum," say institutional investors

According to CoinShares' Fund Flow Report for the week ending April 15, Ethereum failed to make a dent in the market yet again as assets marked another week of 97,3 outflows. XNUMX million dollars.

Ethereum during the week brought the second-highest outflow at $ 27,1 million, led by Bitcoin at $ 72,1 million.

However, considering the year-to-year flows, Ethereum is the worst performing asset, with $ 153 million pulled out of the asset, while the king's coin has $ 145 million in inflow.

The recent market recovery could improve investment in the asset in the coming weeks, but the current outlook is in line with Dorsey making Ethereum a bad investment vehicle and Dapp chain.