Crypto's New Buzzword 'Intents' Offers Convenience But Risks Centralization
-
Intents are a new buzzword in crypto referring to users expressing a goal without specifying how it should be executed.
-
Intents are outsourced to third-party "solvers" who handle the details, allowing for convenience and efficiency.
-
New protocols like Anoma, Flashbots, and Connext use intents to simplify cross-chain transactions, trading, and more.
-
While intents offer benefits, they risk centralizing power with dominant players who may act in self-interest.
-
As intents grow, managing decentralization and avoiding monopolies/rent-seeking will be a key challenge.