The Overton window is shifted in crypto on decentralization. So decentralization is a continuum.

For the first sort of era of crypto, we used to think it was you are decentralized or you're not.

But there are degrees of it. And we're actually just getting to the point where the kind of line of

decentralization is being negotiated. Is this a decentralized network or not?

And I do think the likes of tempo, who for me,

have kind of crossed the line into this permission validator set, which we used to call proof of authority chains, that was a kind of previous red line. And we've moved into an era

where we are letting go of our previous paradigm of decentralization. And that's pointing a kind

of selective pressure across the rest of the industry. This episode is brought to you by

Nexto. Step into a new era of digital wealth. Earn interest on your digital assets, borrow against them

without selling and trade all in one platform. Get started at nexo.com slash breakdown. Nothing said on

the breakdown is a recommendation to buy or sell securities or tokens. This podcast is for

informational purposes only and any views expressed

by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions

in the company's funds or projects discussed. Welcome everybody to The Breakdown.

I'm your host David Canales.

And with me is Nick Armand, the head of governance for Gito Foundation.

How's it going?

Very good.

Thank you, David.

That's good.

You've heard me ramble on about, you know, this idea of what the most used chain might be

for the past 15 minutes, I guess. What did I get wrong? What did I get right? What do you think?

...