Ethereum Needs Competition

Though the world of Web2 is still (historically speaking) new, this isn’t a new problem and we’ve solved it before, not with decentralization but with regulation. In 1895, there were an estimated 6,000 local phone companies in the United States. Each company could set its own rates and had to reach agreements with each other for interconnection. Just like today’s so-called digital monopolies, the big got bigger. Eventually, there was just one dominant player left, AT&T, the eventual successor to the American Telephone Company founded by Alexander Graham Bell and his father-in-law in 1885.