@polynya: USDC on Ethereum adds intermediaries, making it less decentralized

Well, that didn't take long! I've seen comments about "decentralisation is the goal" - it's not. I'll address it again, though it's just repeating my blog posts from 2023. USDC is issued by Circle, a publicly owned company regulated by government agencies with a set of checks and balances, which are indirectly elected by hundreds of millions of US citizens. By deploying on Ethereum, you make USDC less decentralized by adding additional intermediaries (chiefly a few thousand noderunners) which aren't necessary for a lot of usecases. Ethereum is very centralised, it's just *differently centralised* However, there'll always be usecases where that differential centralisation will be useful. There's also sticky network effects, as we've seen with USDT on Tron. I only care about using the best technology for the job, and for most stablecoin payments, Ethereum or Tron are not it. But there are also certain usecases where they are, like jurisdictions that restrict USDC and access to Ethereum DeFi.