The L1 Wars: SOL, AVAX, NEAR | 15 Jan 2022

• What was the aha moment for Scott with crypto?
  
  
  • Scott was aware of crypto early, but very skeptical. Saw that everyone was trying to decentralize just for the sake of it. But decentralization has costs. Centralized entities are often more effective in coordinating interaction.
  
  
  • His opinion started to change with examples of use-cases where tech was

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In addition to conventional market dynamics, an overarching factor driving the evolution of decentralized networks is the tension between ideology, reality, and financial incentives.

The differences in the two blockchains mirror an ideological rift in the crypto world: Crypto purists (like Buterin) accuse Solana of being too centralized, too enmeshed with venture capitalists, too willing to compromise in pursuit of efficiency. 

The rivalry between the Ethereum and the Solana proponents has all the makings of the classic, cutthroat battles that defined the internet before Web3. The dot-com gold rush (that is, Web 1.0) gave birth to the kind of feuds that make journalists salivate.