Previously, I explored decentralization benefits from first principles and why progressive decentralization is failing short of its goal. In this section, I will argue for centralizing some functions while decentralizing others. To understand the tradeoff of decentralization, we must clearly define the system in which we are talking about decentralization in. In the L1 case, when researchers talk about decentralization, they are talking about the decentralization of the network operation layer, specifically around the decentralization of block generation and verification. Decentralization in the network operation layer is well-understood. While decentralization in the network layer has clear mathematical relationships with other key properties, decentralization in the L1 governance process does not (
this is super cool. i recently broke down the different approaches to products/protocols from the founder's perspective. could be cool to combine some of what's here on the governance front
this is super cool. i recently broke down the different approaches to products/protocols from the founder's perspective. could be cool to combine some of what's here on the governance front