Dumb question. But if the network is owned by the participants, then why do all the networks have a centralized authority managing them? The participants rarely have autonomy.
Web3 protocols at their best are like that. By contrast, FTX and Binance are “crypto-adjacent”, they aren’t decentralized or onchain at all.
Uniswap owners can shut down their website. They can introduce a 100% fee. They can deactivate their contracts.
Yes, people can still use their smart contracts in 5 years, but the adoption of those contracts will quickly decline without uniswap labs.
Like Beaker Browser with Dat, or like IPFS gateways?
And then we have a truly decentralized ecosystem in which billions of dollars are invested and trading. And no one owns it!
They can't introduce a 100% fee or deactivate their contracts. I read the code. It is impossible.
My point is, all of these tools have central leadership and centralized auxiliary services (DNS, discord, etc). Without the centralized leadership or centralized services, these protocols can’t function.
As I said there needs fo be a front end that is based on DHT. Freenet. Beaker Browser. IPFS. Why not?
Even today, every wallet's swap feature is already an aggregator across multiple DEXes - neither theU Uniswap website nor their discord nor their leadership team are required for the protocol to continue to function.
Reminder: TornadoCash is still up and running and actively used.