Blockchain study of 43 solutions finds 0.00% success rate

Post by zepto » Fri, Mar 05, 2021, 5:51 AM UTC

acdha wrote: post #25

selfhoster11 wrote: post #19

Earlier quoted context omitted.

> Do you have any examples of something which solves a real problem better than mature, scalable technologies? The same could be said of the Internet when it was first invented. It was far from mature and took two decades, but it revolutionised the delivery of information. Cryptocurrency is revolutionising delivery of cash. It will take a while to work out the development of it, but we didn't have a ready made plan f…

> The same could be said of the Internet when it was first invented. It was far from mature and took two decades, but it revolutionised the delivery of information. This is a standard talking point but it's not an accurate comparison because it ignores the barriers to adoption related to computing in general. Internet adoption in the very early years was constrained by the need to use expensive computers and network…

Post by wespiser_2018 » Fri, Mar 05, 2021, 7:25 AM UTC

smt88 wrote: post #14

ostenning wrote: post #7

Earlier quoted context omitted.

If you had looked into the space with even just a small amount of depth, you’d find there are numerous applications. Decentralized finance, games, art, cdn networks, music distribution, video streaming alternatives. Some of them are promising and would address many issues we face; like the Audius project which aims to compete with Spotify and SoundCloud, but actually paying artists for their work. I think it’s fair t…

Audius sounds like it's using blockchain for coins, which is exactly what GP said: it only works for coins. Please provide one other example of a functioning app or service that uses blockchain to do something it can't do just as well without blockchain.

Post by ostenning » Fri, Mar 05, 2021, 8:35 AM UTC

nwah1 wrote: post #9

ostenning wrote: post #7

Earlier quoted context omitted.

If you had looked into the space with even just a small amount of depth, you’d find there are numerous applications. Decentralized finance, games, art, cdn networks, music distribution, video streaming alternatives. Some of them are promising and would address many issues we face; like the Audius project which aims to compete with Spotify and SoundCloud, but actually paying artists for their work. I think it’s fair t…

You can pay artists without a blockchain. No actual benefit is provided to this concept by adding one.

Post by Tenoke » Fri, Mar 05, 2021, 10:38 AM UTC

acdha wrote: post #31

Tenoke wrote: post #30

Earlier quoted context omitted.

Decentralized exchanges allow users to exchange funds without ever entrusting their asset to a third party while other users are the ones who provide the liquidity and take the profit from the fees, again without anyone having to trust anyone else beyond some publicly deployed code. I'd say that at least some of of the advantages cannot be recreated by a traditional service.

It’s not that simple, however, since the inherent inefficiency means you have higher transaction costs to operate the network and since there’s no fraud protection you still need trusted third parties to broker any exchange where fraud is a possibility. As an expensive way to transfer money to your drinking buddy it works but if you’re buying or selling with strangers those third parties are necessary and still need…

Post by Bluestein » Fri, Mar 05, 2021, 10:47 AM UTC

reilly3000 wrote: post #37

I think these types of articles are the harbinger of greatness for a technology to have impact in society. This shows that 43 companies found it valuable to invest in understanding blockchain technology. It means that millions of people are imagining a decentralized world, and how that would upend institutional. By detracting the present over-hype, the dangers of the gold rush to the miners but not marketers, they ac…