Why a Web3 Version of SpaceX Would Be Good For The Whole Industry
TL;DR
In order to solve the blockchain trilemma, we need a Web3 version of SpaceX.
We're not talking about a company that makes rockets for the metaverse, or one who makes decisions about products based on how pointy they are...
We're talking about a company that reinvigorates blockchain developers, in the same way that SpaceX reinvigorated the space industry.
In order to solve for the Holy Grail of Web3, solving the blockchain trilemma, we need more companies with ambitious and exciting goals.
Full Story
In order to solve the blockchain trilemma, we need a Web3 version of SpaceX.
(That may make little sense right now, but hear us out).
What is the 'blockchain trilemma'?
The 'blockchain trilemma' has been referred to as the 'Holy Grail' of blockchain development.
It calls for a single blockchain project to be:
Secure (un-hackable)
Scalable (able to handle millions/billions of users)
Decentralized (i.e. no single person or collective entity can control the system)
So far, there hasn't been a project that's met all three criteria (at the very best they've met two) - for example:
Bitcoin is highly secure and decentralized, but it can only process seven transactions per second (which is way too slow to support billions of users).
Solana supports waaay more transactions per second (~4000 right now), it's decentralized, but less secure than BTC.
Why do we need a Web3 version of SpaceX?
We're not talking about a company that makes rockets for the metaverse, or one who makes decisions about products based on how pointy they are...
We're talking about a company that reinvigorates blockchain developers, in the same way that SpaceX reinvigorated the space industry.
Between landing on the moon, and the founding of SpaceX, there was little interest in pushing rocket technology forwards.
But the mission to make the human race a multi-planetary species got people excited again - that's a seriously ambitious and fulfilling concept for those folks who get to work on it.
In order to solve for the Holy Grail of Web3, solving the blockchain trilemma, we need more companies with ambitious and exciting goals.
Boom, stuck the landing.