As we transition from Web2 to Web3, understanding where economic value will concentrate is crucial for investors, developers, and entrepreneurs. The Fat Protocol Thesis, proposed by Joel Monegro in 2016, provides a framework to assess how value is distributed within blockchain ecosystems compared to traditional internet models. Web2: Thin Protocols, Fat Applications In the Web2 era, value was primarily … Continue reading The Fat Protocol Thesis: Understanding Value Distribution in Web3