This interpretation stands in contrast to the claims that web3 advocates make. They claim that web2 is a centralized mess dominated by technology megacorporations and web3 is now about content ownership. In order to achieve these goals, they must create an entirely new operating model for the web, one built on the blockchain. Blockchain is in effec... See more
The decentralization of clients within DeFi is somewhat straightforward given their relative simplicity — very little incentivization is necessary to get third parties to build independent and simple gateways (mostly in the form of websites) to such protocols. However, as web3 products and services become increasingly complex, with computationally ... See more
Earth could this philosophy of radical and permanent decentralization ever be reconciled with the absolute need for a single, permanent, universally trusted ledger?
Decentralization can be thought of as a single design challenge that spans three different, but interrelated elements: technical, economic, and legal. Understanding the differences in these elements is key to designing web3 systems because design decisions with respect to one affects the others.