TL;DR
- Emin Gün Sirer warns against cryptocurrency projects that prioritize terminology over the transfer of real value.
- Highlights examples such as “effective altruism” and “weak subjectivity” as misleading concepts in the crypto space.
- It emphasizes the need for honesty and transparency in crypto projects to compete with Ethereum.
The crypto community has received a clear warning from Emin Gün Sirer, founder of Avalanche, who has pointed out the worrying trend of some cryptocurrency projects emphasizing the creation of fancy terms instead of offering real, tangible value for investors.
Sirer highlighted examples such as “effective altruism” and “weak subjectivity” as concepts that have been used to cover up the lack of substance in certain projects.
This is especially true for projects that are trying to adopt technical terminology from the humanities.
— Emin Gün Sirer🔺 (@el33th4xor) April 29, 2024
In his analysis, Sirer especially criticized those projects that adopt technical terms from the humanities, pointing out that these often lack a solid basis for the effective transfer of value in the crypto ecosystem.
His message emphasizes the importance of transparency and honesty in blockchain innovation, especially in projects seeking to compete with Ethereum and other established platforms.
The Avalanche founder also mentioned the recent appearance of terms like “Work Tokens” and “intersubjective” on Crypto Twitter, warning that behind the fancy terminology, many of these projects are simply tokens that aspire to be used as money, competing directly with ETH but hiding this intention under complex language.
Avalanche CEO Call for Transparency and Integrity in Crypto Projects
Sirer passionately urges developers and entrepreneurs operating within the cryptocurrency sphere to uphold transparency regarding their intentions and capabilities.
He firmly believes that launching a new foundational platform (L1) is a legitimate endeavor, provided it is executed transparently and devoid of attempts to mask its true purpose behind complex terminology.
Emin Gün Sirer’s cautionary message serves as a poignant reminder of the critical role integrity and clarity play in the lifecycle of crypto projects.
His advocacy for honesty and transparency resonates deeply within the industry, underlining the pressing need to construct a crypto ecosystem that is not only trustworthy but also robust enough to meet the expectations of both investors and users alike.
