Varun Srinivasan pfp
Varun Srinivasan
@v
one thing that take people a while to internalize is how social contracts are really the void which binds a protocol. standards, smart contracts, blockchains etc are all important pieces that make it harder to break these contracts casually, but do not make it impossible. if you have sufficient social consensus you can break all of them (see DAO fork, Bitcoin Cash fork etc)
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boscolo.eth pfp
boscolo.eth
@boscolo.eth
💯 - But these examples are not super relevant in this thread. The FC protocol is made up of different components. Today, 100% of the control of the identity layer is in Merkle's hands, which is essentially no different than 𝕏.
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Michael of St. Joseph 🔏 pfp
Michael of St. Joseph 🔏
@michaelofstjoe
Do you mean insofar as they have control over the protocol? I don't assume you mean Merkle has control over the L2 the FIDs are bound to. Let me know if I'm speaking gibberish, I'm still trying to understand things.
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