The QIS Economic Model: How Value Flows in a Quadratic Network
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Article #010 in the Understanding QIS series Most distributed protocols solve the wrong economic problem. Blockchain networks centralize revenue extraction — tokens, gas fees, validator rewards — then dress the extraction in decentralization language. Federated Learning distributes the cost of training (every participant burns compute and bandwidth) but centralizes the value (one organization keeps the trained model). In both cases, the economic model and the technical architecture are sepa