DeFiDaily
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DeFiDaily

The Legend & First Mover Advantage Grows

On the decentralization front, when you look back at the history of the block chain rail, specifically bitcoin, with the passage of time I appreciate how Satoshi Nakamoto was perfectly positioned, whether he is. A single person or a account that is representative of a bunch of coders, and his stepping to obscurity keeps the core focus on the technology rather than the personality or personalities leading the project

What you see with a lot of these crypto projects our personalities that come to the forefront, such as the Vitalik Buterin or Justin Sun. And people have a definite issue or stance on these individuals based on some decisions they made that or perhaps a necessarily the best. The effect of this is that if their actions, or the actions of the leader ship team guiding a cryptocurrency or blocked him project,. Manifest greatness or good things come about as a result of decision making then the leadership team can be exalted in the project will be separated from the core technology. That’s a problem.

By keeping the focus on the proof of work process, the public ledger that’s immutable, and that it’s exceptionally difficult to orchestrate an attack or double spend, the net affect is that the ecosystem and community-at-large can appreciate the technology and focus less on the negatives that could happen from an imperfect leadership team. Understood that on the whole the process of finding out who actually is Satoshi Nakamoto may take away from the bitcoin technical spotlight, but it’s more beneficial from the standpoint that it adds to the lore and makes the project that much more romantic.

As if the prospect of buying something for a fraction of a penny and having it be worth five figures wasn’t enthralling enough, the narrative about no one really knowing the true identity of Satoshi Nakamoto and the people that purport to be him having difficulty proving it has captured the attention of the Wall Street Journal and traditional finance publications and outlets. The storybook project inception based on this decentralized, anonymous launch stands to reason will have bitcoin stay a true first mover, unencumbered by the possibility of a management team messing up and distracting from the brilliance that is the blockchain.

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Rob from Rekt Tech

Rob from Rekt Tech

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