The defining success of blockchain technology, how economically sound are blockchains?

There's been a few debates surrounding MakerDAO venturing into the world of physical investments, with some being against the idea, calling it a means of introducing centralization to any network and all that while others believe it is something more crypto projects should do.

I believe the first problem here is that when we talk about "decentralization" we simply believe its all about eliminating every "risk structure" there is but the more we allow ourselves have an open mind about these things, the more we should realize that decentralization isn't about that in any way, its mostly about having a consensus system(layer) that isn't widely centralized when it comes to passing one decision or the other.

Diversity is strength, growth demands risks!

Although we want everything to be decentralized and free of centralized risk factors, unfortunately, that cannot be the case because success in the grand scheme of things is measured in different ways.

Diversity is a necessity for any business structure and even as individuals. The phrase "don't put your eggs in one basket" remains true to date. The expansion of crypto to the physical or read world assets and investments is a needed one.

If we look at it this way, some of us discuss tokenization as what is going to revolutionize global trade and finance in general but do we understand that tokenization leads to centralization.

When you tokenize a physical asset, who controls those assets while their token copy gets leveraged digitally across the globe? That's right, the issuing company or individual.

Moving forward, crypto projects will have to take a lot of risks that will not make sense. In fact, in many situations it will seem a lot like web2 and traditional finance but this will only be the chase because we'd be ignoring the fact that the base value structure is nothing like traditional finance.

Understanding blockchain economies

It isn't the roof of the house that needs decentralization or maximum security, it is the foundation because that is effectively what holds up the building.

When it comes to blockchain economies, the defining value or success tell of it will depend on how sound, as in secure on the consensus layer the network is. Though a lot of networks may currently be enjoying some roof-level successes and ignoring the threats the foundation poses, a time will come when it all comes crashing down because by design, it was inevitable.

So when you look at bitcoin as a network, if someone were to ask if bitcoin has been successful, you'd realize that a lot of people will say yes but their answer will be influenced by the fact that bitcoin price has appreciated in thousands percent compared to its launch price but is that really the definition of success here?

Reading through the Bitcoin whitepaper you should be able to note that never did Satoshi envision or want bitcoin in any sense to increase to such a market value, the focus has always been in solving double spending and delivering a decentralized network for finance where the consensus protocols enhances its security over time and looking at the current miners economy, bitcoin is indeed successful as fuck.

There are very few successful blockchains currently, but not a lot of people know this. The structures you may see today and call successful could simply be waiting on the right time to show just how flawed its foundation has been all this while and it all goes burst, e.g VC funded chains.