1 definition by Satoshi1337
A slogan used by people centrally printing tokens in control of various projects and networks that they are trying to portray as decentralized without actually designing it that way, just so for profit they can trick people into thinking it's somehow a new type of web. In reality control over it is always fully centralized making it indistinguishable from web as we know it as it still relies on trusting a central authority.
Yet again, the central party that premined almost the entire supply of a web3 project called Ethereum confiscates users funds, changes many rules practically overnight, and there is 0 anyone can do about it. How embarrassing to fall for scams called web3!
by Satoshi1337 August 24, 2022