The real bottleneck in DeFi is not technical, it is structural
Why scaling code is easy compared to scaling coordination, governance, and incentives in open financial systems.
For years, the debate about the future of DeFi was dominated by a technical obsession: more TPS, lower latency, better bridges, new L2s, and increasingly sophisticated architectures. Each cycle promised to solve 'the scalability problem.' However, while technical infrastructure advanced rapidly, collapses, liquidity crises, and systemic events did not disappear.