Web3 had better not be Transaction Cost Hell

For a technology that’s billed as an architecture of the future, crypto is powered by a discourse that’s rooted in the past. Perhaps that’s why so few cryptocurrency-based, Web3-style projects meaningfully address big, future-facing problems. Instead, they seem to want to re-create financial structures that already exist, only with new people at th... See more

Conversely in Web 3, absolutely everything I do ‘online’ (whatever that means now; what do we even do anymore that isn’t online in some form or another?) is public and immutably recorded for all to see. Imagine for a moment Web 2 worked that way: every time you bought something at Amazon, the company broadcasted it publicly, tweeting it out perhaps... See more