Categories
Cardano Community

One from the Whale

Every now and then something on Twitter really encapsulates our view of the world. This recent post by Cardano Whale was one of those moments…

He goes on to say:

…but you’re not decentralised so you’re inferior. That holds some truth and based on my personal biases and preferences, I may in fact see it like that. However we also must realise and come to terms with the fact centralised chains are here to stay, and the experience of a superficial user on the various blockchains is going to be almost identical, whether they are centralised or decentralised. It is simply not a selling point. Buy a coin, get a wallet, use a dapp, do a transaction, buy and keep an NFT. It’s the same experience. VC chains will in future likely even be made more participatory with voting and Catalyst equivalents etc. added in. So participation, which we are so proud of, may in the end not even be the sole domain of decentralised chains.

The difference to an average user who doesn’t get the underlying mechanics at a deeper level (i.e. the majority) will be negligible. Which I realise makes some people bearish on decentralisation. If it’s only a hurdle and not a benefit, why bother? Of course, some, like myself, will make a deliberate choice to put themselves and their family’s financial situation on decentralised rails. Just like many corporate applications in the real world run on Linux (your server, Android phone, fridge), many corporations and academia will also choose flexible, open source decentralised ecosystems in crypto, if only from a risk management and openness angle. No one can take your Linux/Cardano license away.

Besides all of this, I think the relevance of decentralisation is first and foremost not on the client but on the server side. We as a community of (at least, don’t shoot me, guy who likes to dissect my tweets) tens of thousands come together to wholesale replace corporate entities that run the other chains. We get a chance to get involved and tell people about it. It’s free, it’s cheap, it’s open, it’s flexible. No one is in charge here except for the people of Cardano. Any VC chain, Bitcoin or Ethereum developer can come and contribute to Cardano (just propose a change), but the other way around is much harder.

Now then, as an outsider, your bet with Cardano is that similar to how Linux spread around the world throughout the 1990s onwards, so can Cardano. At any given point in time we will all lose track of who is working on and contributing to what components of the protocol or who is telling other people to join. The spider web grows ever bigger. We’re not quite there yet, but recent engagement with government and big universities in Argentina shows it’s not quite a pipe dream either. Not far from a tipping point. Meanwhile the centralised chains will pursue a more traditional business strategy. While they frantically search for the killer app – which may never come – that gets them there (Casino? Social? Gaming?), we slowly and almost unnoticeably expand.

So far this has only discussed the network/protocol context and didn’t even touch on the monetary angle. Fundamentally, inflationary money printed and controlled by a corporation is a very different thing than scarce decentralised money. Experts and scientists will likely come to conclude the same in years ahead. Some of them have already figured this out for Bitcoin, now just need to broaden their minds a little to span the rest of crypto.

So really TLDR is that – Decentralisation is likely not relevant for average users, but it will be for power users – These power users will spread adoption. People may not see the Cardano logo on a billboard, sneaker or phone, but it’ll show up in their university lectures, IoT devices, web services, etc. Open systems win – As an investor decentralisation is relevant because it makes for better currency (easier long term hold)

https://x.com/cardano_whale/status/1809962633900003468

One of the great things about Cardano is how many grounded and smart people are part of the ecosystem. A large part of why we see it as an inevitable force that will keep growing and gradually become the foundation layer for finance across the net…rather like Linux was for operating systems back in the late 90’s and early 2000’s.