I highly suggest consuming the full piece here (12 min. read time)
“…progressive decentralization — a process in which founding teams relinquish control by degrees, over time.” — Jesse Walden
Successful components: “…any successful application running on a blockchain computer will feature these three components: Product/market fit, Community participation, and Sufficient decentralization (community ownership)” — Jesse Walden
Focus still matters, maybe even more so: “Another way to get stuck is to aim to do all three things at once. Lack of focus is the death of most startups, and the same is true for crypto applications.
Why fake it till you make it won’t work: “Faking autonomy is a quick way to undermine trust, whereas transparency is a way to build it.” — Jesse Walden
Alignment is everything: “…user-owned networks can benefit from a cooperative economic model that helps ensure crypto services remain better aligned with their users, even as they scale.” — Jesse Walden
My two cents: If the barrier to entry for starting traditional companies is already pretty high, building crypto applications seem even higher. However, it means having the skills necessary to build crypto applications is even more valuable. And it also seems like user trends are pointing towards all of the things crypto applications stand for (decentralization, transparency, and alignment).
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