Index
The page references in this index correspond to the print edition from which this ebook was created, and clicking on them will take you to the location in the ebook where the equivalent print page would begin. To find a specific word or phrase from the index, please use the search feature of your ebook reader.
Advanced Research Projects Agency (ARPA), 8, 10
advertising on internet, xv, 210
Airbnb, 140
algorithmic stablecoins, 76
Alphabet. See Google
Amazon
abuses of power by, xviii
as anticompetitive, xvii–xviii
cost structure of, 112–13
eBay’s advantages over, 32
take rate of, 117
anonymity on blockchains, 61–62
anticompetitiveness, ix, xvii–xviii
Apple, xviii, 44, 114–15, 118. See also iPhone
application layer “stack,” 11
application programming interface (API)
described, 20
internet payments built on blockchain networks and, 215
Netflix and, 38
RSS and, 25
successful providers, 109
Twitter’s open, 22
two-way use of web and, 30
apps and smartphones, xvi–xvii, 50, 135, 186–87
Aptos, transactions per second, 90
art
modding and, 104
artificial intelligence (AI)
content creators and, 219–21
gestation period of, 186
growth of, 51
one-boxing and, 218
regulation of, 222–25
“attack surface,” 64–65
attention-monetization dilemma, 198–99, 200, 201
“attestations,” 223–24
attract-extract cycle, 42–43, 104
Auction Web, 32
authentication, described, 62
automation, 4
Barlow, John Perry, 8–9
Bengio, Yoshua, 223
Bezos, Jeff, 112
Big Tech. See also specific companies
growth of, xiv
innovation and, xv
startups and, xv, xvii, 84, 135–36
treatment of users by, xiv–xv, 139
virtual reality and, 51
Bitcoin
commitments made by, 68
creation of, 151
decentralization of, 161, 175, 177
energy consumption by, 60
as first blockchain network, 87
as fungible token, 74
internet payment system built on top of, 213–14
invention of blockchain and, 55
miners, 57
parody of, 137–38
programming language of, 58
security, 65
transactions per second, 90
blockchain networks. See also tokenomics; tokens
advantages of, over earlier network architectures, xxiii–xxiv
AI content payments using, 221
American share of software developers, xxviii
anonymity on, 61–62
arguments against, 147–48
benefit of building on, 91–92
blockchains as core of, 87
content creators and, 210, 221
control of supply of and demand for tokens, 144–47
decentralization of, 94–95, 97–98
development of, 91
Dogecoin, 137–38
downward price competition among, 121
economic winners in, 132
financial core, 95
first, 87
funding, 59, 109–10, 136, 153, 178
future of, 187–88
game theory and, 91
as in “Goldilocks zone,” 92
hardware-software power relationship in, xxiii
as having architecture for building future networks, 227–29
importance of tokens, 79
importance of “treasuries” on, 79
internet payments using, 213–16, 221
internet scale operation of, 90
media coverage of, 171–72
metaverse and, 196–98
names and, 119
open-source software, 119
platform-app feedback loops can be supported by, 228
risk of recentralization and, 120–21, 174
service commitments made by, 109
social networks and, 187, 193–94
software development by, 129, 130–31
software-hardware power relationship in, 87–88
storage of “attestations” on, 223–25
strengths and weaknesses of architecture, 93
take rates of, 92, 113, 118–22, 124–25, 126
treatment of users by, 140
blockchains. See also tokenomics; tokens
accessibility ethos of, 66
“attack surface” in, 64–65
blocks in state transitions, 58
as outside-in technology, 54–55
commitments about future behavior, 66–67
consensus processes in, 57–58, 63
as core of blockchain networks, 87
crypto and, 61–62
cryptography and, 57
development of, 55
digital signatures in, 62–63
effect on environment of, 60, 61
“enterprise,” 70
federated networks and, 161
manipulability of software of, 67
multiplayer nature of, 70–71
as network constitutions, 164
operation of, 57
participation in, 59
physical computers in, 56–57
potential applications of, 68
programming languages of, 58
properties of, 66–67
punishment for dishonesty, 63
as software abstraction on top of physical devices, 56
software-hardware power relationship in, xxiii
transactions per second, 90
Bluesky, 159
bootstrap problem, 132–34, 144
bots, 20
Brin, Sergey, 53
Buffett, Warren, 147
“The Cathedral and the Bazaar” (Raymond), 110–11
CCP Games, 142
centralization. See also decentralization
of blockchain networks, 92, 94
innovation and, xix
risk of recentralization of blockchain networks, 120–21, 174
RSS as symbol of defiance against, 23
Cerf, Vint, 10
Christensen, Clayton, 82–84, 122
Circle, 75
Clark, David, 155
Cloud technology, 54
The Cluetrain Manifesto, 128
collaborative storytelling, 208–10
commoditization, 122–24
Commodity Futures Trading Commission (CFTC), 177
complements
business use definition of, 34–35
commoditization and, 124
corporate networks and, 35–36, 38–42
as frenemies, 35
network growth and, 40–42
of social networks, 36–38
composability
in blockchain metaverse, 197
of blockchain networks, 228
described, 83
internet payments built on blockchain networks and, 215
open-source software and, 106–10
storage of “attestations” on blockchain networks and, 224
wisdom of crowds and, 108
computer chips, transistors on, 49, 50
computer culture, characteristics of, xxv, 171
computers
as ability accelerators, xx
changes in definition of, 56
consensus in next advancements in, 51–52
defining, 55–56
history of, 185
physical, in blockchains, 56–57
software-hardware power relationship in, xxiii, 87–88
content creators
AI and, 219–21
attention-monetization dilemma and, 198–99
“attestations” by, 223–25
blockchain networks and, 210
collaborative, 208–10
corporate networks and, 38–40, 190
email use by, 19
low take rates for, 114, 191–92
micropayments and, 214–15
ownership and, xiii
as primary complement of social networks, 36, 37
revenue maximization of social networks and, 36–37
tokens and, 130
“content farms,” 220
content moderation, 17
control
of anticompetitiveness, xix
in blockchains, 56–57, 62–65, 118–19
of names and naming, 14–16
ownership and, 72
of supply of and demand for tokens, 144–47
corporate networks. See also social networks; specific networks
access of software developers to, 19–20
attract-extract cycle and, 42–43, 104
bait-and-switch strategy, 43
basic facts about, xxi
bootstrap problem and, 133
commitments made by, 68–69
competition to RSS from, 22–24
composability and, 110
content creators and, 38–40, 190
core services, 92
described, xxi
economic winners in, 132
effect of old legal structure on, 181
federated networks evolution into, 162–63
functionality of, 92
games and, 195–96
growth of internet and, 44, 229
internet payments using, 212
interoperability and, 16, 41–42, 108–9
lack of transparency of, 43
logical and organizational centralization of, 94
mapping control in, 15–16
mobile phones and, 104
new product development for, 39–40
ownership on, 79–80
platform-app feedback loop and, 50–51
protocol networks failure against, xxvi–xxvii
social networks as, 192
software development by, 128–30
software-hardware power relationship in, 88
startups and, 43
strengths and weaknesses of architecture, 20, 93
structure of, 30–31
take rates of, xvi, 19, 116–17, 118, 124, 125, 126
treatment of users by, 139–40
use of tool as hook for growth, 32–33
users’ experience on, 160
cryptocurrency, 75
Data General, 83
“data protectionism,” 39
decentralization. See also centralization
decentralized finance (DeFi) networks, 89
organizational, of blockchain networks, 94–95, 97–98
of social networks, 190–92
decentralized autonomous organizations (DAOs), 79, 95, 97
“Declaration of the Independence of Cyberspace” (Barlow), 9
DeFi networks
bootstrap problem and, 133
gas and sink fees charged by, 144–45
in internet “stack,” 89
monetary transactions and, 215–16
rules of, 121
scaling limits and, 90
take rates of, 126
token supply and, 145
as well-designed network for control of supply and demand for tokens, 148–49
deplatforming, defined, xv
Diaspora, 21–22
Diem, 85
Digital Equipment Corporation, 83
digital signatures, 62–63
digital world, fusion of physical world with, 4–5
disruptive technologies, 82–84, 85
DNS lookups, 14
domain name system (DNS), 13–16, 19, 24, 155
Doom, 104
DOS operating system, 102
eBay, 32
Einstein, Albert, 107
clients, 12
content creators and, 19
Gmail, 163
governance of, 155
network effect accrues to community, 17–18
platform-app feedback loop and, 50
success of, as protocol network, 26
transparency of, 43–44
encryption, described, 62
“enterprise blockchains,” 70
environment and blockchains, 60, 61
Epic, xviii
Ethereum
combining of security sinks and access sinks by, 146
creation of, 151
fungible token use in, 76
gas and sink fees charged by, 144–45
internet payment system built on top of, 214
in internet “stack,” 88–89
programming languages, 58
proof of stake energy consumption by, 60, 61
punishment for dishonesty and, 63
“rollups” “layer two” system, 91
security, 65
take rate of, 118
transactions per second, 90
“treasury” applications on, 79
validators, 109
as well-designed network for control of supply and demand for tokens, 148
Ethereum Name Service (ENS), 119, 121
Eve Online, 142
Facebook. See also Meta
access of software developers to, 19–20
as competition to RSS, 24
crackdown on third-party companies, xvii
exporting of Google Contacts to, 39
rebranded, 73
value of, according to Reed’s law, 6
Zynga and, 42
fans and ownership, 207, 208, 209
“fantasy Hollywood,” 210
FarmVille, 42
federated networks, 158–64
“Federation Is the Worst of All Worlds” (blog), 162
51 percent attacks, 65
Fitzpatrick, Brad, 24–25
Freeman, Jo, 167
Freemium, 211
FreeSocial, 159
“Freeware: The Heart & Soul of the Internet” (O’Reilly), 102
Friend of a Friend, 159
fungible tokens, 74, 75–76, 197. See also Bitcoin
games, 72–73, 104–5, 141–42, 194–98, 199–203, 211
Gartner consulting firm, 150
“gas,” 145
Gates, Bill, 101
GitHub, 106–7
GNU Social, 159
“Goldilocks zone,” 92
abuses of power by, xviii
commoditization and, 122–23, 124
content distribution by, 216–18
exporting of Contacts to Facebook, 39
Gmail and, 163
history of, 53
take rate of, 117
YouTube purchased by, 33–34
governance
in blockchain metaverse, 197
of blockchain networks, 118–19, 165–67
blockchains as network constitutions, 164
of corporate networks, 156, 166
of email, 155
federated networks model, 158, 160
informal versus formal, 167
of internet, 154–55
nonprofit model and, 157–58
of protocol networks, 92, 154, 155, 166
“governance” sinks, 146
Graham, Benjamin, 153
Green, Hank, 114
Hafner, Katie, 11
“hard forking,” 63
hardware, power relationship of, with software in computers and blockchains, xxiii, 87–88
hashes, 223
Heartbleed, 25–26
Helium, 134
Hirst, Damien, 78
HOSTS.TXT (Stanford Research Institute), 13
Howey test, 176
Hunch, 39
HTML (Hypertext Markup Language), 11
HTTP (Hypertext Transfer Protocol), 11
hypervisor software, 56
IBM, 102
“The Inevitable Showdown Between Twitter and Twitter Apps” (Dixon), 39
information
democratization of, in “read era,” xxi–xxii
greater exchange of, richer network is, 6
state machines and, 55
innovation. See also content creators
attract-extract cycle and, 42–43
Big Tech and, xv
centralization of web and, xix
free exchange of ideas on early internet and, 8
ownership and, 81
ownership as motivator of, 20
preconceived notions and, 68
protocol networks and, 18
regulation and, 179
use of technology and, 28
inoperability and modding, 104
inside-out path of advancement in technology, 52, 54
Intel, 124
internet
accessibility ethos of early, 66
advertising on, 210
copying as core activity of, 198
corporate networks and growth of, 44
current dominant core services of, 23
DNS and, 13–16
eras, xxi–xxii
governance of, 154–55
hardware-software power relationship in, xxiii
history of, xiii–xiv, 8–9, 13–14, 19–24, 25–26, 28–30, 38, 39, 44–45, 74, 105, 186
network design as determining power of, xxi
ownership and, 79–80
reinventing, for future, 225–29
software basis of, xix–xx
“stack,” 102
web versus, 11
Internet Corporation for Assigned Names and Numbers (ICANN), 13–14
Internet Engineering Task Force (IETF), 155
Internet of Things, 5
internet payments
blockchain networks for, 213–16
corporate networks for, 212
micropayments, 214–15
models, 210–12
protocol networks for, 212–13
internet protocol (IP), 10, 12–13, 14–15, 102
internet “stack,” 9–11, 88–89, 102, 125, 126
interoperability
in blockchain metaverse, 197–98
corporate networks and, 16, 41–42, 108–9
federated networks and, 162–63
mobile phones and, 103
InterStellar Kredits, 142
investment(s). See also venture capital
in blockchain networks, 92
in blockchains, 59
in corporate networks, 19, 21, 25, 31
in development of new technologies, 84
DNS and, 16
limited liability corporations and, 180
ownership as motivator of, 20
protocol networks and, 18–19
iPhone
Apple’s take rate, 114–15, 118
apps and success of, 50
as disruptive technology, 84
increase in networks and, 44
interoperability and, 103
Safari browser, 123
transistors on, 50
Kahn, Robert, 10
Kamvar, Sep, 53–54
Kay, Alan, 27–28
Kelly, Kevin, 189–90
keys, private versus public, 62
language and protocols, 9
“law of conservation of attractive profits,” 122
“layer two” systems, 91
Libra, 85
Lightning, 213
limited liability corporations (LLCs), 179–81
“Lindy effect,” 44
Linux, 26, 50, 54, 55, 105, 110, 124
LiveJournal, 24
Louis Vuitton, NFTs created by, 77–78
Lyft, 140
Lyon, Matthew, 11
MacManus, Richard, 30
Madrigal, Alexis, 103
Maker, 76
mapping, 14–16
mashups, 103
Mastodon, 159
McAfee, 21
McCulloch, Warren, 186
Meta, 73, 81–82, 85, 117. See also Facebook
metaverse, 195–98
Metcalfe, Robert, 6
mobile phones. See also iPhone
apps and, xvi–xvii, 50, 135, 186–87
corporate networks and, 104
interoperability and, 103
payments for calls and texts, 214
reasons for success of, 49–50, 51
Mockapetris, Paul, 13
modding, 104–5
Moore, Gordon, 49–50
Mosaic, 11
Mozilla, 158
music industry, 201, 202, 204–5
Nakamoto, Satoshi, 55, 59, 68, 87
names/naming
as avatars, 12
on blockchain networks, 119
decoupling, from services in protocol networks, 19
internet protocol addresses for computers, 12–13
market for domain, 16
network’s versus user’s control of, 14–16
redirecting between IP address and, 14–15
registration of, 14
social networks as owners of, 73
Netflix API, 38
“net neutrality,” xix–xx
Netscape, 158
networks. See also blockchain networks; corporate networks; protocol networks
basic facts about, 5
building new non-corporate, as solution for centralization of internet, 7
complements and growth of, 40–42
as mediators with “real world,” 4–5
Metcalfe’s law and, 5–6
neural, 223
Reed’s law and, 6
“S-curve” of adoption of, 40–42
snowball effect, 6–7
ubiquity of, xv
value of, 5–6
Nike, NFTs created by, 78
non-fungible tokens (NFTs)
as container for representing ownership, 203
content creators and, 203–5, 206, 207
described, 74
music industry and, 204–5
uses of, 76–78
metaverse and, 197
video games and, 203
nonprofit network model, 157–58
Novi, 85
Oculus VR, 84
off-chain governance, 164–65, 166
on-chain governance, 165–66
“1,000 True Fans” (Kelly), 189–90
“one-boxing,” 218
opacity
corporate networks’ lack of, 43
of protocol networks, 43–44
open-source software
beginning of, 54
of blockchain networks, 119
composability, 106–10
Linux, 26, 50, 54, 55, 105, 110, 124
modding, 105
Netscape, 158
software pricing and, 102
Open Systems Interconnection model (OSI), 9
Optimism, in internet “stack,” 89
O’Reilly, Tim, 102
organic content, 37
outside-in path of advancement in technology, 52–53. See also blockchains
ownership
in blockchain networks, 87
by community of blockchain networks, 140
content creators and, xiii
control and, 72
on corporate networks, 79–80
democratization of, in “read-write-own era,” xxii
DNS and, 16
as motivator for investors, 20
of names on social networks, 73
NFTs as container for representing, 203–5
positive effects of, 80–81
on protocol networks, 17–18
in “real” world, 80–81
speculation and, 16
tokens as representing, 72, 87, 136
trading and, 178
Page, Larry, 53
pay-as-you-go model, 76
payment networks, take rates of, 115
PCs, 83
Perez, Carlota, 150
perimeter security model of corporate networks, 64
phishing, 20–21
physical world, fusion of digital world with, 4–5
Pitts, Walter, 186
platform-app feedback loops, 36, 50–51, 101, 228
platform risk, 39
Polygon, in internet “stack,” 89
programming languages, of blockchains, 58
programs, defined, 55–56
promoted content, 37
proof of stake (POS), 60
energy consumption, 61
proof of work, 59–60
protocol coups, 22–24, 162, 163–64
protocol networks
basic facts about, xxi
benefits of, 17–20
components of, 12
described, xxi
failure of, against corporate networks, xxvi–xxvii, 227
governance of, 92, 154, 155, 166
innovation and, 18
internet payments using, 212–13
mapping control in, 14–15
new ones in last thirty years, 44–45
ownership and, 80
social networks as, 159–60
software development by, 128–29
software-hardware power relationship in, 87–88
strengths and weaknesses of architecture, 93
success of email and web as, 26
take rates of, 18, 116, 124–25, 191
transparency of, 43–44
protocol(s)
clients and, 11–12
evolution of definition of, 9
internet “stack” and, 9–11, 102
need to be unopinionated, 17
public key cryptography, 62
publishing, democratization of, in “read-write era,” xxii
Raymond, Eric, 110–11
“read era,” xxi–xxii, 28, 29–30, 74
“read-write era,” xxii, 30, 74
“read-write-own era,” xxii, 74
Ready Player One, 194
“real world,” networks as mediators with, 4–5
recentralization risk, 120
Reed, David, 6
Reed’s law, 6
regulation
of AI, 222–25
“attestations” instead of, 223–25
to control anticompetitiveness, xix
innovation and, 179
of securities, 173, 174, 175, 176, 177
of tokens, 173, 174–77, 178–79
reusability, in composability, 85, 107–8
“rollups,” 91
RSS (“really simple syndication”)
DNS and, 24
as symbol of defiance against centralized web, 23
Schumpeter, Joseph, 150
“S-curve” of growth, 40–42
Scuttlebutt, 159
securities
described, 173
regulation of, 173, 174, 175, 176, 177
Securities and Exchange Commission (SEC), 176, 177
server-side software, 102
services. See also specific networks
blockchain networks commitment and, 109
code and behavior of, xx
content moderation and, 17
corporate networks and, 30–31, 44
current dominant core internet, 23
decoupling names from, 19
effect on society of, 4
internet “stack” and, 102
legal terms of agreement, xv, 67, 68
ownership and, 79–80
shift to, by technology companies, 102–3
shadowbanning, defined, xv
Shapiro, Joel, 124
Sheffield, Cuy, 210
Shopify, 211
signatures, digital, 62–63
sink fees, 144–45
SiteAdvisor, 21
skeuomorphic technology, 28, 68
smartphones. See also iPhone; mobile phones
SMTP (Simple Mail Transfer Protocol), 11
Snow Crash (Stephenson), 195
Social, 159
social media
beginning of, 54
game-related content on, 200
take rates of large networks, 113–14, 118
YouTube, 32–34, 113–14, 118, 133
social networks. See also specific networks
bait and switch strategy, 37
blockchain infrastructure as basis of, 187, 193–94
building startups on top of, 38
complements and, 36–37
content creators and, 36–37
effects of decentralization of, 190–92
funding, 39
governance of, 156
independent/third-party software developers and, 37–38
as most significant class of corporate networks, 156
NFT identifiers in, 78
ownership of names on, 73
platform-app feedback loops and, 36
as protocol networks, 159–60
revenue maximization by, 36–37
revenue of five largest, xvi
success of corporate, 192
take rates of, 113–14, 190, 191
third-party software developers and, 37–38
transition from open to closed, 39
social technologies
as multiplayer, 70
simplifying assumptions needed by, 71
“social video,” 32
software
access of developers of, to corporate networks, 19–20
as basis of internet and regulation, xix–xx
blockchain networks’ funding development of, 129
blockchains as “virtual computers” based on, 56
bottom-up, collaborative method of development of, 98
complexity of, 71
construction as cathedral or bazaar, 110
decentralized social networks and development of, 192
design consequences, 3
development by corporate vs. protocol networks, 128–30
encapsulation and, 71–72
encoding immutable governance rules in, 164, 166–67
funding open-source, 25–26, 108
hypervisor, 56
independent/third-party developers of, 37–38
manipulability of blockchains’, 67
“net neutrality” and, xix–xx
open-source, 26, 50, 54, 55, 105, 110, 124
power relationship with hardware in computers and blockchains, xxiii, 87–88
pricing, 102
server-side, 102
speculation
banning of tokens and, 177
casino culture and, xxv
as cycle in tech-driven economic revolutions, 150–51
in domain names, 16
memecoins and, 138
Spolsky, Joel, 124
spyware, 20–21
stablecoins, 75–76
algorithmic, 76
Stanford Research Institute (SRI), 13
startups
Big Tech companies as gatekeepers and, xv, xvii, 84, 135–36
blockchains and, 54–55
building, on top of Twitter, 38–39
building on top of social networks, 38
corporate networks and, 43
“one-boxing” and, 218
ownership and, 81
venture capital and, 32
state machines, 55–56
state transitions, 58
StatusNet, 159
Stephenson, Neal, 194–95
Stone, Andrew, 38
Stoppelman, Jeremy, 217
subscription messaging. See RSS (“really simple syndication”)
substitutes, business use definition of, 34
Sui, transactions per second, 90
sustaining technologies, 83–84
Sweeney, Tim, 196
take rates
in blockchain metaverse, 197
of blockchain networks, 92, 113, 118–22, 124–25, 126
of corporate networks, xvi, 19, 116–17, 118, 124, 125, 126
defined, xvi
effective, 116
effect of low, on content creators, 191–92
of large social media networks, 113–14
multiplier effect of low, 191
of payment networks, 115
of physical goods marketplaces, 115–16
of protocol networks, 18, 116, 124–25, 191
of social networks, 113–14, 118, 190, 191
Technological Revolutions and Financial Capital (Perez), 150
technology
inside-out path of advancement in, 52, 54
outside-in path of advancement, 52–53
“S-curve” of growth, 40
sustaining, 83–84
tech giants missing new trends, 81–82
ways of using, 27–28
tech stacks, commoditization of layer in, 122–24
telecom, 133–34
telephone and Western Union, 82–83
“Terms of Service,” xv, 67, 68
Terra, 76
theory of disruptive technology, 82–83
Thiel, Peter, 3–4
“Thoughts on the Social Graph” (Fitzpatrick), 24–25
Threads, 159
Tiffany & Co., NFTs created by, 77–78
tokenomics
access sinks, 146
control of supply and demand for tokens, 144–47
cycles of tech-driven economic revolutions and, 150–51
defining, 141
“governance” sinks, 146
incentive structure design, 142–43, 147
optimization of positive behaviors to promote network growth, 143–44, 148–49, 178–79
security sinks, 145–46
“staking,” 145
tokens. See also Bitcoin; non-fungible tokens (NFTs)
Big Tech and, 85
in blockchain networks, 76
bootstrap problem and, 133, 134
in casino culture, 172
as disruptive technology, 85
as funders of software development, 126
fungible tokens, 74, 75–76, 197
importance of, to blockchains, 79
method for determining fair value of, 149
off-chain governance and, 167
on-chain governance and, 165
proposed banning of, 177
redemption of stablecoins for dollars, 75
regulation of, 173, 174–77, 178–79
as representing ownership, 136
as self-marketing, 135–37
software development by blockchain networks and, 129, 130–31
as sufficiently decentralized, 175, 176, 179
types of, 74
values assigned to, 77
Torres, Ritchie, 75
Torvalds, Linus, 53
trading, xxv, 178. See also tokenomics; tokens
transparency
corporate networks’ lack of, 43
of protocol networks, 43–44
“treasuries,” 78–79
“trustless,” as used in blockchain contexts, 63, 64
Turing test, 186
tweets, 4
Twitch, 200
Twittelator, 38
access of software developers to, 19–20
building startups on top of, 38–39
crackdown on third-party companies, xvii
Dorsey on, 158–59
growth of, 195
rate of, 113–14
rebranded as X, 73
spam problem, 39–40
TikTok and, 81–82
“the tyranny of structurelessness,” 167
Uber, 140
U.S. Supreme Court, 176
USD Coin (USDC), 75
users
benefits from protocol networks to, 18
Big Tech’s surveillance of, xiv–xv
blockchain networks’ treatment of, 140
content moderation by, 17
corporate networks’ treatment of, 139
decentralized social networks and, 192
as digital owners in blockchains, 73, 79
experience on corporate networks, 160
friction of use and, 120
versus network’s control of names and naming, 14–16
personal data of, 114
as renters of virtual goods in games, 73
software-hardware power relationship in computers and, 87
“Terms of Service” legal agreements and, xv, 67, 68
Uniswap and, 138–39
validators
actions of, 57–58
blockchain networks and, 109–10
financial incentives for, 59, 60
proof of stake, 60
proof of work, 59–60
“staking” and, 145
token incentives for, 178
Varian, Hal, 124
venture capital
for applications built on top of social platforms, 39
corporate networks and, 21, 25, 31
dot-com crash and, 33
long hold periods of funds, xxv
spam issue and, 20
startups and, 32
video games, 72–73, 104–5, 141–42, 194–98, 199–203, 211
video streaming, 32. See also YouTube
The Vine, 38
virtual reality (VR), 51, 84, 195, 229
web
API and two-way use of, 30
centralization of, xix
corporate networks’ interoperation with, 16, 41–42
internet versus, 11
platform-app feedback loop and, 50
searching on early, 20
success of, as protocol network, 26
transparency of, 43–44
Web 2.0 (read era of internet), 28, 29–30
“web3,” xxii
web clients, 11–12
websites, simplicity of design, 73–74
Western Union, 82–83
Where Wizards Stay Up Late (Hafner and Lyon), 11
Wikipedia, 157–58, 208, 209, 210
Windows and Microsoft, 36
wisdom of crowds and composability, 108
World Wide Web Consortium (W3C), 154–55
X (Twitter). See Twitter
XML (extensible markup language), 22
YouTube
bootstrap problem and, 133
as example of providing tool and users staying with network, 32–33
funding for, 33–34
Google’s purchase of, 33–34
“zero knowledge proofs,” 62
Zuckerberg, Mark, 20
Zynga, 42