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Decentralization is not the goal - Dhruba Basu

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Special thanks to Soumya Basu, Chad Fowler, Benjamin Funk, Patrick O'Grady and Myles O'Neil for feedback and review. The opinions expressed in this post are my own and do not necessarily reflect the views of the reviewers. Speak to any crypto person and you'll almost certainly hear "decentralization" touted as a major benefit. But what does it mean and is it always a good thing? Decentralization is rarely defined in an objective way. Even Merriam-Webster only offers a vague definition : the dispersion or distribution of functions and powers By dealing in the subjective, we're cursed to engage on beliefs as opposed to data. Look no further than the decade-long debate amongst crypto enthusiasts and academics about whether certain networks are "decentralized enough": These arguments often get lost in the technical details of the network, missing the point of decentralization. The true measure of decentralization lies in the power that centralized intermediaries have in a system. Consider

Decentralization is not the goal 10 min read • January 6, 2025 Special thanks to Soumya Basu , Chad Fowler , Benjamin Funk , Patrick O'Grady and Myles O'Neil for feedback and review. The opinions expressed in this post are my own and do not necessarily reflect the views of the reviewers. Introduction Speak to any crypto person and you'll almost certainly hear "decentralization" touted as a major benefit. But what does it mean and is it always a good thing? Decentralization is rarely defined in an objective way. Even Merriam-Webster only offers a vague definition : the dispersion or distributio

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