Chris Dixon

Centralized platforms often come bundled at launch with compelling apps: Facebook had its core socializing features and the iPhone had a number of key apps. Decentralized platforms, by contrast, often launch half-baked and without clear use cases. As a result, they need to go through two phases of product-market fit:

1. product-market fit between the platform and the developers/entrepreneurs who will finish the platform and build out the ecosystem, and
2. product-market fit between the platform/ecosystem and end users.
   This two-stage process is what causes many people — including sophisticated technologists — to consistently underestimate the potential of decentralized platforms.

Cryptonetworks have a significantly more attractive value proposition to developers and entrepreneurs. If they can win their hearts and minds, they can mobilize far more resources than GAFA, and rapidly outpace their product development.