A note from Daniel

Eliminating token trading also interferes with the productive uses of blockchains. Blockchains need token incentives to motivate validators to run network nodes, which cost money to operate. Whereas corporate networks fund their operations and development with fundraising, stock options, and revenues, blockchain networks fund their operations and development with tokens. If there aren't markets or prices associated with tokens, then users can't buy tokens to access the network. They also can't convert tokens into dollars or other currencies, making it hard, if not impos-sible, to use tokens as incentives for network participants.

Daniel Read Write Own, page 178 · March 22, 2024 Save to shelf
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