An open letter to those building the new layers of infrastructure in web3.<\/p>\n\n\n\n
Revisiting crypto’s genesis<\/strong><\/p>\n\n\n\n The way that crypto started has always intrigued me. Especially when I think back on the past 7 years in the industry and the things that I’ve seen. Both as a retail degenerate, as well as someone who works behind the scenes. Though still a degenerate at heart.<\/p>\n\n\n\n What started as a decentralized, peer-to-peer, immutable network called Bitcoin, has grown into a huge ecosystem of innovations that leverage blockchain technology. Crypto. Magic internet money, if you will.<\/p>\n\n\n\n At times, I feel like we’ve forgotten where it all started. What are we actually<\/em> doing here? Are we just looking for ways to multiply our cash in the shortest amount of time?<\/p>\n\n\n\n No, that’s not it. That can’t be it.<\/p>\n\n\n\n What is the goal?<\/strong><\/p>\n\n\n\n The goal is to build upon Satoshi’s vision, and usher in a new era of distributed, decentralized networks and systems. It’s about ownership. Breaking down barriers.<\/p>\n\n\n\n Creating transparency where it is appropriate. Ensuring true privacy where it is wanted.<\/p>\n\n\n\n In the end, there is only one true goal<\/span><\/strong><\/em>:<\/p>\n\n\n\n Decentralization<\/p>\n<\/blockquote>\n\n\n\n How decentralized is crypto really?<\/strong><\/p>\n\n\n\n If decentralization is the goal, how decentralized is this industry currently? Have we done a good job at truly breaking down barriers? While we’ve come a long way, there are still many roadblocks and gatekeepers in the industry.<\/p>\n\n\n\n Consider the average layer 2 experience, which is usually still controlled by a central entity. The power to verify, order, batch, and subsequently post user transactions to the L1, is solely controlled by the company who built the network. Censorship is possible.<\/p>\n\n\n\n Given that a large portion of transactional activity happens on L2’s these days, I’d say this is a problem that needs to be addressed sooner rather than later.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" A random thought I had with regards to the role of decentralization in web3.<\/p>\n","protected":false},"author":1,"featured_media":1556,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=\/wp\/v2\/posts\/444"}],"collection":[{"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=444"}],"version-history":[{"count":6,"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=\/wp\/v2\/posts\/444\/revisions"}],"predecessor-version":[{"id":1731,"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=\/wp\/v2\/posts\/444\/revisions\/1731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=\/wp\/v2\/media\/1556"}],"wp:attachment":[{"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icaruslabs.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n