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I don’t understand what problem web3 can solve that a trusted entity cannot. And let’s keep in mind your reply to this comment will be using a trusted entity. In fact in the history of the internet I cannot find a single example of any technology working better in a decentralized fashion compared to centralized for the end user
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"mostly" being the key word :) If you're self-hosting, then your server is a weak point. It goes down, your app goes down. The additional cost and risk that comes with using blockchains provides a platform for your app to run on that you don't have to manage and is highly resistant to being shut down. Likewise, there always exists the possibility that your server can be compromised and the code can be altered. The im…
Correct me if I'm wrong, but isn't a dapp dependent on sufficient mining/distributed compute being in the network?. Of the network becomes small can someone attack it and change past transactions/hijack apps?
It's possible that bugs in the blockchain software can cause blocks to no longer be produced, essentially halting the network until the problem is resolved. So-called 51% attacks are also a failure possibility.
> So I still need a DNS name, Ethereum Name Service (ENS) https://forkast.news/what-is-ens-ethereum-name-service-how-d... > After all, a programmer doing the most basic test of a web3 prototype is going to need to get the cryptocurrency, spend the cryptocurrency, and any application will require all users to get the cryptocurrency as well. If this gets abandoned quickly due to the inevitable technical failure “web3”…
I don’t understand what problem web3 can solve that a trusted entity cannot. And let’s keep in mind your reply to this comment will be using a trusted entity. In fact in the history of the internet I cannot find a single example of any technology working better in a decentralized fashion compared to centralized for the end user
The entire point is to remove the trusted entity. To build a way of doing things that isn’t dependent on trusted entities to work. That’s it.
What if you just dropped all the ideology speak and just called them platforms? Theyre open finance platforms. Everyone building bullshit on Shopify’s platform is the exact audience that would be better off building on an open finance platform (the shopify apps that are sold to merchants). That crowd just wants to launch a product, have users, and make money passively. Thats what defi builders are doing on web3 platf…
Better in what sense? Its extremely difficult to actually use cryptocurrency for selling things beyond cryptocurrency related instruments. You need both your vendors and your customers to be able to easily transfer money in and out, and as things stand, that's an absolutely massive pain in the ass compared to using USD, and approximately nobody does it. But that is only the start of the problems, not factoring in thi…
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> In fact in the history of the internet I cannot find a single example of any technology working better in a decentralized fashion compared to centralized for the end user Torrents?
You think torrents are a better way to distribute files compared to alternatives?
> So I still need a DNS name, Ethereum Name Service (ENS) https://forkast.news/what-is-ens-ethereum-name-service-how-d... > After all, a programmer doing the most basic test of a web3 prototype is going to need to get the cryptocurrency, spend the cryptocurrency, and any application will require all users to get the cryptocurrency as well. If this gets abandoned quickly due to the inevitable technical failure “web3”…
I dunno, it still looks like a big ponzi scheme in many angles.
> Please don't post shallow dismissals, especially of other people's work. A good critical comment teaches us something.
Many criticisms of blockchain apps, comparing their use cases to conventional technologies (databases, conventional separation of services such as that described in the article, etc) all seem to miss a major point: Dapps running on the blockchain are immutable and highly resistant to being shutdown. Immutability is important because it's guaranteed that no matter how many times you interact with a contract address, y…
I have tried my best to read up on how all this is supposed to work but have come up blank. Is there a simple explanation - using zero buzzwords - of how I can run a site in the way you describe in the Web3 world?
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This is great, but I don't need it at 10^9 times the cost. Imagine if a single red apple costed about $100M, yet it had rather unique qualities such as indisputable, provable lack of contamination. That's the kind of cost difference we're talking about here.
Good for you. Not everyone needs to use Tor -- slow and inefficient, can't even do a proper 1080p livestream. Good for them. But some people are willing to pay 10^9 the cost for certain guarantees. Good for them too, that such options now exist. Why the irrational hate?
This is imo the best case scenario with web3. Which would mean that most of the current "value" is a bubble.