Can Crypto's AI Protocols Beat Google? on Bankless

But decentralizing the internet has been hard to do. When contrasted against the well-established efficiency and stability of centralized systems, decentralized systems have struggled to keep pace. Now, however, the emerging technology of crypto and web3 — specifically, programmable blockchains, composable smart contracts, and digital assets — make... See more

Crypto and blockchain-based applications aim to steer the web towards its original vision: an open network, based on public-domain protocols, controlled by no one. It promises to enable "decentralized" alternatives to the tech and government giants we all know and love.

DePIN (decentralized physical infrastructure) projects are blockchain-based networks where participants contribute resources in exchange for token rewards. These can be physical resource networks like cellular connectivity and energy distribution or virtual resource networks that provide access to computing power, bandwidth, and cloud storage.

The success of these systems will depend on their ability to deliver the actual benefits of decentralization, including more equitable ownership among stakeholders, reduced censorship, and greater diversity.

Decentralized governance is at the heart of the ideological foundation of crypto: equal participation for all actors. The playbook of progressive decentralization is being followed by more decentralized finance (DeFi) projects. Users and tokenholders can now have more control over protocol parameters, treasury spending, and, in general, the industr... See more

-Compound, for example, is a lending protocol built on ETH with $10b+ of crypto available for borrowing. The creators could go away tomorrow and the code will still run.