Ethereum is an attempt to fold the internet back into itself
New article!
Comparing Ethereum to Linux or ICANN is a category error. Chains are polities: monetary/jurisdictional sovereignty, internal capital markets.
Polities need founding-period investment. Singapore spent aggressively in the 1960s & grew GDP per capita 176x over 60 years.
https://paragraph.com/@trent-4/ether
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New article!
Comparing Ethereum to Linux or ICANN is a category error. Chains are polities: monetary/jurisdictional sovereignty, internal capital markets.
Polities need founding-period investment. Singapore spent aggressively in the 1960s & grew GDP per capita 176x over 60 years.
paragraph.com/@trent-4/ether...
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good take. core dev under pure market conditions likely does not yield the characteristics we desperately want in a commons production system:
- heterogeneity + redundancy: social, political (lowest possibility of capture), network (client diversity), overlapping expertise, bus-factor buffer
- long-term collaborative ...
Shoaib Ahmed
@sufialhussaini
15d
Markets are a good mechanism for achieving meritocracy only as long as market concentration is an acceptable outcome. In other words - markets that work on the power law will inevitably end up with a small number of firms dominating (usually a monopoly or duopoly).
Same rule
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My latest article on Ethereum institutions (past, present, and future) and their political economy. Topics include:
- Subtraction and Legitimacy
- The Funding Crisis
- Succession Planning
I believe this is a critical time to establish the institutions that will carry Ethereum through its next decade.
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borrowing from the Protocol Institute - this commoditization will be a "whitehead advance"
"Civilization advances by extending the number of important operations which we can perform without thinking of them. " - Alfred Whitehead
0 marginal cost institutional capacity
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i've gotten a few unexpected comments that take my assessment to be neutral or, even that the outcomes are negative
to be clear - i think commoditization here is far and away a positive. two quotes that are appropriate:
"there are only two [operations], bundling and unbundling" Jim Barksdale, netscape CEO (slightly m...
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~ liveness in network and software production ~
trent.eth
@trent_vanepps
8mo
~ liveness in network and software production ~
1. "liveness" is typically understood as a network property (that ). ethereum's multi-client norms are an important underpinning of network guarantees: when a mainnet issue creates downtime for any single client, validators running
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