this post was submitted on 28 Feb 2026
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Any source for the coin stuff? Never read about it
They (Element / New Vector) got a major early investment in 2018 from Status, a cryptocurrency/web3 company, and later in 2021 an even bigger one in relation to Protocol Labs, who peddle their own cryptocurrency.
You could even argue it with the data structures and the protocol itself: Modelling chat rooms as graphs ("directed acyclic graphs"), which need to be eventually consistent from beginning to end is plain madness for big and long-living public spaces. This blog post is a good collection of some of the major problems coming from that: Why not Matrix? - telegra.ph
I knew of some of these issues with the protocol, but this article definitely gives an impression that Matrix was built as a "cool protocol" first, with messaging applied on top as an afterthought.
Welp. This comment has completely killed all my enthusiasm for matrix 😅 I had no idea it was such a horrible mess under the hood...
I'm trying to move some communities off Discord to something self hosted but I don't know enough about SMPP to know if it would do the job.