Lack of economic incentives prohibit development of blockchains
Launching a token makes millionaires leading to more people working on tokens rather than the codebase
Improvements in protocols hold the potential of increasing the value of Ethereum by 10%
Private funding – unable to scale to the value that can be created by upgrading protocol
Public crowdfunding – falls victim to the tragedy of the commons
Inflation funding – involves everyone in the community chipping in to improve infrastructure
By taking advantage of a blockchain’s decentralized nature, protocol designers can obtain a superior evolutionary algorithm.