Why Permissionless Infrastructure Wins

Ethereum is argued to be the neutral infrastructure that will win financial infrastructure, following the pattern by which the open Internet and Linux displaced proprietary alternatives. The article says that corporate players such as Stripe, JP Morgan, and Circle will not build on one another's chains, as quoted from zkSync founder Alex Gluchowski. It cites Vitalik Buterin's view that consortium blockchains have mostly failed, and points to the collapses of We.trade, Marco Polo, and Contour, and to the roughly A$250 million the Australian Securities Exchange spent before scrapping its ledger. It also reports that Electric Capital counts more than one million developers who have contributed to Ethereum, with about 232,000 active in the past year.