Vitalik Buterin says cryptocurrencies outpace other payment instruments.

Cryptocurrency payments surpass other forms of settlement due to their convenience, not because of their ability to resist censorship. This was stated by Ethereum founder Vitalik Buterin.

People continue to underestimate how often cryptocurrency payments outperform other forms of payments, not even because of censorship resistance but simply because they’re so much more convenient.

Big boost to international business and charity, and sometimes even payments within countries.

— vitalik.eth (@VitalikButerin) August 24, 2022

“People continue to underestimate how often cryptocurrency payments outperform other forms of payments, not because of censorship resistance, but simply because they are much more convenient. A big boost for international business and charity, and sometimes even for payments within countries,” he wrote.

Buterin stressed that he does not diminish the importance of resisting restrictions. He says he is simply reflecting personal experience that shows digital assets are better tools compared with “alternatives currently available”.

The Ethereum founder also added that the adoption and integrations that would make cryptocurrencies “truly suitable for semi-mainstream international payments” depend on “credible neutrality.” In his view, censorship resistance is part of the latter. 

Though I do think that the adoption and integrations that make crypto actually usable for semi-mainstream international payments ultimately depend on its credible neutrality (which censorship resistance is a part of).

— vitalik.eth (@VitalikButerin) August 24, 2022

Earlier, Buterin stated Ethereum could reach throughput of 100,000 transactions per second.

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