• 11 Posts
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Joined 2 years ago
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Cake day: March 28th, 2022

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  • I thought the same as you about the exciting technological fundamentals before realising that it was unfortunately also very overblown.

    Basically Blockchain technology is a solution in search of a problem. It was invented by someone who was convinced that decentralised currency would realise the ancap utopia. In order make it mainstream, people have been trying very hard to find better use cases and it turns out that you always end up concluding that the centralised approach is always better.

    Proof of stake could make the thing not too environmentally damaging but it’s been years that major blockchains are saying they will implement it the next year. And again, the use cases would remain weak in the end

    There are other cryptographic mechanisms at play, which are amazingly interesting but it is not going to revolutionise the internet since it’s already being used everywhere (for example asymmetrical keys).