Author: Grigore Roșu, Founder and CEO of Pi Squared
For some, questioning the place of blockchain in Web3 is almost heretical. The idea that decentralization and progress can exist without blockchain seems absurd for careers built on Bitcoin, Ethereum, and their descendants. However, considering the limitations of blockchain scalability, Web3 may not need blockchain to thrive. What is needed are super-fast payment systems and verifiable settlement systems; blockchain is just one way to achieve this goal, not the only way.
While blockchain solves the double spending problem, it introduces its own architectural burdens: a rigid insistence on total ordering, requiring each transaction to be processed in sequence through a global queue. Initially, this made sense for payment security and simplicity, but in the Web3 environment that demands speed, flexibility, and scale, this same mechanism becomes a limitation. It forces design choices to be constrained.
The impact of FastPay is undeniable
The mobile remittance app FastPay proves that double spending can be avoided without total ordering, inspiring systems like Linera that use independent local ordering while maintaining global verifiability, demonstrating that another more scalable future is already in progress. FastPay also inspired the single owner object protocols of POD and Sui. If FastPay had been created before Bitcoin, blockchain might not have had such a significant cultural or technological impact.
Some may argue that total ordering is essential for financial integrity, or that decentralization without blockchain would collapse. But this concern confuses the specific ways trust and distrust are implemented. The true foundation of decentralized systems is the verifiability of transactions, not their order relative to other global transactions.
The growing pains of blockchain are still evident
Ethereum's Dencun upgrade attempts to increase transaction throughput through 'blobs,' but the core architecture remains tied to total ordering. Even with Solana introducing the Lattice system, the network still suffers outages due to errors and overload. The surge of L2 solutions seems more like a stopgap measure than a solution, offloading transactions from the mainnet only to bring them back, creating endless congestion management.
The Rise of Flexible Payment Settlement Protocols
In traditional tech circles, the idea of 'evolve or die' also applies to investors and builders who cling to traditional blockchain architectures. In the future, protocols prioritizing flexible, verifiable payments and settlements will unlock greater throughput and better user experiences. As decentralized applications evolve and AI-driven autonomous agents begin to interact with blockchains, the cost of ordering everything will become a competitive disadvantage.
There are already signs of this shift, as the widespread adoption of modular blockchain frameworks like Celestia marks an increasing recognition that traditional blockchains are too rigid. Data availability layers, execution sharding, and off-chain verification mechanisms are all attempts to separate the trusted validation of blockchains from the ordering that constrains them. Although these efforts do not completely break from the past, they undoubtedly point toward a more flexible infrastructure in the future.
The New Role of Blockchain
This does not mean blockchain will disappear, but it must evolve. Looking ahead, its most enduring role may be as a general validator, more like a decentralized notary rather than a sovereign ledger. While this evolution is necessary, it is regrettable that this transition cannot be smooth, as too much capital, ideology, and career risk are closely tied to traditional narratives.
Many venture funds, DeFi protocols, and 'Ethereum killers' are closely tied to maintaining the centralization of blockchain both financially and reputationally. History shows little mercy for tech giants that cling to yesterday's models. Just as the walled gardens of the early internet were phased out, Web3 will also transcend the rigidity of blockchain foundations. The fruits of the next wave of infrastructure will belong to those who understand and leverage this turning point.
Author: Grigore Roșu, Founder and CEO of Pi Squared.
This article is for general informational purposes only and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed in this article are those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.
