Conversation

Balaji
@balajis
"...the only amount of decentralization people want is the minimum amount required for something to exist..." This is true for the same reason internet apps use the minimum necessary bandwidth to exist. Blockspace, like bandwidth, is rapidly increasing but costly and finite.
Quote Tweet
Moxie Marlinspike
@moxie
Wrote some notes summarizing my first impressions of web3: moxie.org/2022/01/07/web
38
823
Balaji
@balajis
In 2000, Netflix mailed DVDs. They knew streaming was the future. But they also knew bandwidth was limited. In 2022, many web3 entities are partially centralized. They know decentralization is the future. But blockspace is limited. Need Nielsen's Law for blockspace.
Image
Image
13
456
Will Warren 🍵
@willwarren
Replying to
@balajis
My understanding of Moxie's argument: Centralized platforms that sit between the user and the blockchain can potentially become problematic if they establish user lock-in. Then they can potentially restrict user freedom and choice. A pretty reasonable position IMO
1
13
Balaji
@balajis
Replying to
@willwarren
It's very reasonable. But it occurs because those centralized entities can't yet fully decentralize. The reason they can't is b/c blockspace is not sufficient yet. Once it is, they go on chain, as dexes did. Your work at ZRX has of course helped here.
Quote Tweet
Balaji
@balajis
Decentralization is constrained by blockspace, but blockspace is increasing, so decentralization will be increasing.
Show this thread
3
6
Blair Marshall
@blairlmarshall
Replying to
@balajis
and
@willwarren
So your core assumption is more block space -> more on chain apps -> more decentralization <> therefore decentralized apps beat centralized competitors? Seems like a leap. Hope it’s true, but no historical data suggests this is true, hence Moxie’s post.
2