[Breaking News] Miles Jennings of a16z shared his views on the importance of decentralization and how to achieve decentralization. He proposed that decentralization mainly includes three aspects: technology, economy and law. Technical decentralization, such as blockchain and smart contracts, can create a trustless and autonomous ecosystem. Economic decentralization, such as introducing digital assets into the web3 ecosystem, creates a decentralized economy, but it is necessary to prevent individuals from controlling the network by manipulating token prices. Legal power decentralization, such as decentralized exchanges that realize non-intermediary point-to-point transactions, eliminates the risks associated with asset transactions and does not require the application of intermediary-based legal systems. He emphasized that in the web3 system, the three types of decentralization are mutually influential and need to be considered comprehensively.