Odaily Planet Daily News PayPal recently launched the stable currency PYUSD, which has aroused concerns about centralization in the encryption community. Cryptocurrency experts studying PYUSD’s underlying smart contracts have discovered that the new stablecoin is actually written in an “extremely ancient” version of Solidity. Solidity is the most commonly used programming language on Ethereum, the world's second largest blockchain.
According to reports, PYUSD was written to be precise with version 0.4.24, which is costly to end users and does not comply with current industry practices. Other centralization issues include PayPal's ability to suspend all transfers, freeze addresses and funds, and even increase the total stablecoin supply at will.
But some cryptocurrency experts believe that PayPal's PYUSD will have a positive impact on the cryptocurrency industry. Erik Voorhees believes that the above concerns are valid for existing stablecoins such as USDT and USDC. (Coinedition)