Blockchain & internet glossary (A–Z): Key terms from Read Write Own
 Blockchain & internet glossary (A–Z): Key terms from Read Write Own by mraz125.eth52 🥝 • 3y • 0 views • 0 clicks | |
AI summary of the linked articleThis glossary, adapted from Chris Dixon's book Read Write Own (Random House, 2024), defines common blockchain and internet terms. It contrasts blockchain networks, which combine open access and user ownership with the advanced features and sustainable funding of corporate networks, with corporate networks that are centralized and can change their rules at any time. Entries also cover concepts such as the attract-extract cycle, in which corporate networks use perks to attract participants and later focus on extracting value from them, and Bitcoin, which Satoshi Nakamoto (identity unknown) described in a 2008 white paper. | |
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I thought I wouldn't find any new terms, but really liked this one: "Thick vs. thin networks: Thick networks claim more profits for the center of a network, such as a corporate intermediary, and less for complementary layers, like creators, developers, and other network participants. Conversely, thin networks generate less profit for the network core and more for complements." ZORA seems to be a great example of a thin network. They help creators make money and take a small cut for each mint. It got me thinking that since thin networks take only a small %, they need scale to become profitable. This means that they might be hard to build without VC funding. On the other hand, it's much easier to take a smaller cut as a bootstrapped project where you decide what's your revenue appetite vs. a VC-funded startup that might have investors who want to generate more revenue per user to increase the company's value. | |
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