Decentralization has become synonymous with Web3, but is blockchain tech living up to its promises?True decentralized networks should only be viewed as a means to an end argues jmacdonald, with censorship resistance the ultimate goal.
is inevitable. Yet, as the demand for decentralization gains momentum, several important questions are being raised about the current state of blockchain technology and its promised “decentralization.”with a confession that “a lot of it comes down to limited technical resources and funding. It’s easier to build things the lazy centralized way, and it takes serious effort to ‘do it right.’” Or, Jack Dorsey’s recent tweet where heYou don’t own “web3.
Be it Ethereum’s Infura debacle of 2020, where the network suffered multiple outages, ultimately leading to an “accidental” hard fork due to mysterious behavior by the core development team, the ongoing and consistent outages on Solana, or the But, the fees won’t stay low forever. In fact, fees on networks like Polygon and Avalanche start increasing as demand for them increases. Offer a network where users can transact at a lower cost and they’ll come. More demand requires accommodating more transactions in the same block space as before. Eventually, users start competing for block space, leading to fee increases.
And, when a network is censorship-resistant, information travels freely and people can connect and transfer value without boundaries. That’s why it is such a powerful force. It gives us back the freedom that we are currently paying for using Web2.
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