Almost every blockchain project the authors are aware of is suffering under the centralizing force of competition for equity control and profit, and such projects predictably move toward centralization when unconscious of these forces.
Source quote, verbatim
In fact, almost every blockchain project we're aware of is suffering under the central- izing force of competition for equity control and profit.
From
Craig Calcaterra, Wulf A. Kaal, Historical Sketches of Centralization vs. Decentralization (2021), The Apaches vs. Bitcoin, p. 22 https://ssrn.com/abstract=3782193 · source PDF
Cite as
Craig Calcaterra, Wulf A. Kaal, Historical Sketches of Centralization vs. Decentralization (2021). SSRN: https://ssrn.com/abstract=3782193
Holds when
contemporary for-profit blockchain and Web3 projects
extended_bykaal:claim:3782214-018 Internal competition for profit creates a natural tendency to centralize power as members differentiate themse...
extended_bykaal:claim:3782214-026 The alternatives to a reputational system for countering profit driven instability, namely external stabilizin...
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