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The Shift to Fast Permissionless Blockchains: End of Rent Seekers in Crypto

The Shift to Fast Permissionless Blockchains: End of Rent Seekers in Crypto

In the fast-paced world of cryptocurrency, a single tweet can spark waves of discussion and signal major shifts in industry thinking. Recently, MartyParty (@martypartymusic on X), a well-known crypto commentator and music producer, shared his thoughts on a post by Anatoly Yakovenko (@aeyakovenko), co-founder of Solana Labs. Yakovenko's original statement emphasized that while there may be numerous permissioned blockchains—those controlled by specific entities—what truly counts is having at least one permissionless blockchain that can stand toe-to-toe with them all. Permissionless means anyone can participate without needing approval, fostering true decentralization.

MartyParty built on this by declaring, "The product with the least friction will win. It's the end of the rent seekers." Here, "friction" refers to barriers like high fees or slow transaction times that make using a network cumbersome. "Rent seekers" are those who profit from controlling access or extracting fees without adding real value—think centralized intermediaries in traditional finance or even some blockchain setups.

He went on to note that the "Overton window has moved today." The Overton window is a concept from political theory describing the range of ideas considered acceptable in public discourse. In crypto terms, it means the community's preferences are shifting away from slow, expensive permissionless networks and centralized sequencers (components in some Layer 2 solutions that process transactions off the main chain but can introduce centralization risks). Instead, the spotlight is on Layer 1 (L1) permissionless networks that prioritize speed and ongoing engineering improvements.

This conversation is particularly relevant for meme token enthusiasts. Meme tokens, those fun, community-driven cryptocurrencies often inspired by internet culture, thrive on platforms where transactions are quick and cheap. Solana, for instance, has become a hotspot for meme coins like Dogwifhat or Bonk due to its high throughput—handling thousands of transactions per second at minimal cost. If the industry indeed favors fast L1s like Solana over slower alternatives such as early Ethereum iterations or permissioned chains, it could supercharge the meme token ecosystem by attracting more developers, traders, and viral projects.

The tweet has garnered significant engagement, with over 6,000 views and dozens of likes, sparking replies from the community. Some users hyped up emerging networks like KeetaNetwork, while others debated the balance between speed, security, and decentralization. One reply even humorously questioned if this excludes chains like Cardano or XRP, highlighting the competitive banter in crypto spaces.

As blockchain technology matures, this shift underscores a broader trend: users demand efficiency without sacrificing the core principles of decentralization. For meme token creators and investors, keeping an eye on these evolving preferences could mean spotting the next big opportunity on a nimble network. Whether you're building a knowledge base or just staying updated, discussions like this remind us why crypto remains one of the most dynamic sectors out there.

For the full thread and community reactions, check out the original post on X.

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