Opinion Author: Dr. K, Co-founder of Quai Network
Although Bitcoin intends to make people choose to exit the country-centric monetary system, the blockchain industry has since lost its direction. Today, we see the threat from the government Promotion and blockchain solutions prioritize scalability and performance over decentralization.
The rise of networks such as Ethereum and Solana is certainly fascinating, but these blockchains constitute core values in exchange for availability and institutional adoption. In order to achieve the mission that Satoshi started, it is urgent to return the original currency spirit of Bitcoin, which is unmanipulated neutral, unchanging money.
Invariant is the king
Fixed supply of 21 million coins and regular Half eventsBitcoin emits currency certainty. There is no central authority or discovery that can change the supply of Bitcoin. This positioned Bitcoin as a predictable store of value in the context of rampant currency printing and inflation, distinguishing it from other forms of currency. In addition, Bitcoin’s rules are extremely difficult to change, which builds long-term trust in the network.
Flexibility and performance, but how much does it cost?
Key 1 (L1) players like Ethereum and Solana offer unparalleled flexibility and performance, but with shocking trade-offs. Ethereum’s governance leads renew This affects gas fees and puts in rewards and does not always make it to those who have ETH holdings. Additionally, Solana prioritizes speed and performance, which makes it susceptible to increased concentration. By weighing trade-offs, facing scrutiny and manipulation, L1 networks such as Ethereum and Solana will be severely weakened, both in governments, regulators and strong corporate interests.
As of March 2024, Common cases Controlling 3.84 million ETH, placing 120,000 validators, accounting for 11.42% of fixed ether, is the largest Ethereum node operator. This concentration poses a problem of centralization, as a small number of large players, such as Coinbase, may threaten Ethereum’s decentralization and triggering Supervision risk. Furthermore, it can control its own individuals and put it back into the hands of a large centralized company, which is the exact opposite of the original vision of cryptocurrencies.
The role of venture capital in cryptocurrencies
The crypto industry began with a rebellion against big technology and a gatekeeper in Silicon Valley, where only recognized investors can support startups and benefit from early growth. The crypto cake flips that paradigm out. From day one, ordinary people, rather than venture capitalists or insiders, are involved in creating new technologies for the first time. But now that the industry has had some time to mature, venture capital has been redefined to allocate cryptocurrencies in a way that attracts systems that are trying to disrupt.
Recent: Metaplanet’s Bitcoin ‘Premium’ is close to $600,000 per BTC
While venture capital accelerates innovation, it also centralizes control through token distribution, board seats and control over the product roadmap. Solana is one of the leading blockchains that have received substantial investments from companies such as A16Z and Polychain Capital. This investment has driven rapid growth but has also created centralization of tokens and decision-making power.
The most outstanding crypto projects like Ethereum and Solana (whether the old system is cynical or not) were ultimately built for institutions serving in their current state. The founding team locked in large pre-mines, providing early investors with tilt conditions and structural incentives for final exit rather than long-term decentralization. These behaviors reintroduce many similar power dynamics that Bitcoin is trying to eliminate.
Decentralization is not optional
Decentralization is the essence of censorship and individual economic freedom. Bitcoin’s resistance to change can protect it from hijacking of powerful interests. The network that decentralizes power to weigh risks falls under the control of a new janitor class. To retain the commitment to cryptocurrency, decentralization must be the highest priority.
Bitcoin’s strength lies in neutrality and immutability, not its programmability or speed.
Crypto ecosystems need to restore these values to avoid duplicate mistakes in traditional financial systems. The industry must no longer be trends or institutional approvals, but rather be recommended for the development of tools with absolute financial independence. Returning to Bitcoin’s original vision is the only way to separate the currency from the state and restore the currency through a trustless, censorship-resistant system.
Opinion Author: Dr. K, co-founder of Quai Network.
This article is for general information purposes and is not intended to be considered legal or investment advice. The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent Cointelegraph’s views and opinions.
