Decentralization over time is an ethos that many crypto projects espouse. To date, however, few have completed this journey. Talking the talk is easy, but when it comes down to it, only a handful of projects are bold enough to walk the walk and willingly entrust their fate to the community.
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The Road to Decentralization Is Littered With Good Intentions
Decentralization today evokes the “blockchain, not bitcoin” mantra of 2016: a popular concept, but with few real-world success stories to cite. Even Facebook, in its 26-page technical paper for Libra, has gotten on the decentralization bandwagon, outlining a “roadmap for the shift toward a permissionless system.” “I’m pretty sure this would be the first time a distributed network transitioned from permissioned to permissionless,” noted Jameson Lopp. Long before Facebook took an interest in the lingua franca of cryptocurrency, numerous projects within the ecosystem expressed…