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Token Do's and Don'ts
web3 with a16z crypto
Why Decentralized Protocols Need Tokens
Decentralized protocols are essential for sustainability and collaboration among stakeholders. Tokens serve as a vital means for users to represent ownership and control within these protocols, transcending the limited view of tokens merely as currencies for purchasing goods. Rather than being mere balances in a program, tokens play a crucial role in defining ownership and participation in decentralized networks, which is necessary to compete with centralized Web2 protocols. Although traditional decentralized protocols like HTTP and SMTP operate without tokens, the reality of corporate dominance in services like Gmail illustrates the need for robust decentralized solutions that incorporate tokens to prevent monopolization and ensure users’ autonomy and security.
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