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I would separate the crypto craze from Web3 to be honest. On its face it doesn't really have to do with crypto currency at all. A centralization is otherwise no really desirable for many users.
I would separate the crypto craze from Web3 to be honest. On its face it doesn't really have to do with crypto currency at all. A centralization is otherwise no really desirable for many users.
The goal is to give people control of their online experience again (like in web1) without throwing out the benefits that came along with web2 (simplicity for the end user and the ability to execute online commerce). In the goal-oriented mindset, blockchain is one of many solutions that could work, but predicting it will be the one is would have been like predicting that PayPal, Google, and Amazon were going to happen at the beginning of the dot-com boom.
Too much focus on the technology increases the likelihood that nothing will happen. Remember, "web3" had already been used previously to refer to online assistants like Alexa and Siri before this blockchain craze; predicting the socioeconomic future by scrying technology is a fraught game.
Web3 consequently is also bound by this. If people are still interested in Web3 when crypto goes down 10% YoY forever then maybe there’s some inherent value there.
I would separate the crypto craze from Web3 to be honest. On its face it doesn't really have to do with crypto currency at all. A centralization is otherwise no really desirable for many users.
Earlier quoted context omitted.
> A centralization is otherwise no really desirable for many users. I’d argue the opposite-the benefits of decentralization are too abstract for most people to appreciate.
I'd argue the opposite-the benefits of decentralization are clear and concise. edit: Central point of failures, ownership, privacy, etc etc.
I would separate the crypto craze from Web3 to be honest. On its face it doesn't really have to do with crypto currency at all. A centralization is otherwise no really desirable for many users.
They're absolutely inseparable. Web3, at least as I understand its fuzzy definition, is: websites, but... state stored on the blockchain! There are virtually 0 technical reasons for doing this—decentralization and most of the "neat" examples shown (e.g., logging into arbitrary websites without signing up) can be done much better sans-blockchain, using plain old asymmetric keys. What's motivating this is people with d…
I disagree with the article. > [...] as crypto becomes more mainstream and people experience its downsides, critics' warnings are starting to be heard. I'm not sure that public sentiment is actually being measured or is shown to be changing, or at least there's no evidence presented here. The biggest thing happening right now is the selloff, and I think that's happening due to the economic headwinds that face all ass…
Really? As of writing, the S&P500 is down ~10% from its all-time-high. Bitcoin is currently down over 50% of its ATH. Other cryptocurrencies are faring even worse. The stock market is doing significantly better.
This is an oft frustrating topic in the world of cryptocurrency enthusiasm. The contemporary American banking and finance system is awful. It's worthy of a great many of criticisms. But crypto solves none of them, and removes the few, feeble protections that are in place to protect average everyday people.
Serious question: What problem does web3 or decentralization fix? - Oligopoly of the hyperscalers -> rent server from small provider like ovh/hetzner/netcup (there is plenty). The reason AWS, Azure and GCP are so popular is because people don't care. - Privavy intrusions -> Adblocker/DNS Blocker/Turn off JS/Use browser settings This won't be fixed by web3, ad monetization and tracking won't magically stop. They exist…
However, using AWS for some things and pinning stuff to IPFS and blockchain for others does prove convenient (I don't have to worry about egress costs w/ IPFS for example)