Crypto is less decentralized than you think. Or to put it differently, crypto is more centralized than you think. From the blockchain networks run on a few dozen AWS nodes to the DeFi protocols equipped with a 2-of-3 “killswitch,” crypto contains enough chokepoints to extinguish all life in an industry that was founded on an ethos of decentralization.
While every new project scam, bankruptcy, and subpoena reinforces the maxim “Don’t trust, verify,” crypto’s feet of clay might not always be permeable. Beneath the surface, those tasked with building the networks, protocols, and bridges that support the entire industry haven’t given up hope of achieving a fully decentralized stack, free of central points of failure, the way Satoshi and the cypherpunks always imagined.
And they’re not just dreaming of better times: they’re building their way towards a fully decentralized future, one brick at a time.
Defining DeFi
“Decentralized finance” (DeFi) is a broad term tha
We współpracy z: https://cryptodaily.co.uk/2023/05/how-soon-until-we-have-a-fully-decentralized-stack
