Please explain why blockchain is the better solution for your project than existing technologies, and please no projects that exist solely for the purpose of driving blockchain, cryptocurrencies, and NFTs.
I look forward to seeing your replies!
- ipfs is way cheaper than s3.
- any trading network where the trade partners <1000 and you wanted redundancy then you could use a blockchain with ~20-100 nodes. especially across legal zones, so your want enforce trading rules without the need for international trade lawyers.
- Also think crypto innovation happens in waves. mostly when the market goes down and developers need to add more innovation to the market and the innovation cycle repeats.
https://www.toptal.com/ethereum/one-click-login-flows-a-meta...
- Most crypto/NFT are scams (go checkout youtube and influencers everywhere)
- The ones that are not are mostly useless. I know people solving problems using blockchain that don't exist. In many cases, blockchain is a solution in search of a problem.
But hey, you never know. In early 1990s, people said Internet is a fad. And here we are.
I look forward to seeing your replies!
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Repeat excercise with the Internet, the punch hole card, the steam machine, the landline telephone etc etc.
Even if some tech eventually fails, that doesn't mean it was pointless.
Literally every technology you listed there was a massive step forward technologically and was a significantly better solution for the problems they addressed...
You also skewed the question into a completely non-sensical argument - Obviously there are lots of websites that provide purpose beyond self-promotion.
I'm looking for one example of blockchain technology that isn't circular or self-promoting, and solves any problem better than existing technologies. Not some theoretical future use case, just one existing project.
That's a good thing when it comes to crypto. The less you trust other people makes things look better for crypto.
Crypto is better positioned to deal with a lack of trust in a transaction than any traditional business or government. It's designed to be trustless. You can (and IMO should) be a paranoid schizo and worry that every single human is trying to rip you off at all times: but in crypto, code is effectively law, and everything is effectively transparent.
You don't have to worry about somebody completing their end of a bargain when you can verify that money is held in escrow and contractually held until conditions are met and you can even examine every line of code. Even if somebody wants to rip you off in this circumstance, they can't.
You don't have to worry about how many tokens are in circulation when you can look it up and verify any time you need to.
How do centralized systems deal with proving that they're trustworthy? They don't, unless you trust that government and law enforcement is able and willing to find every scam, lying business and institution, and finding corrupt con-artist out there.
And they're not. An example I like to use to illustrate this is the concept of naked shorting in the stock market making it such that it's impossible to know how many shares are even in circulation to set the prices. See this story.
https://www.reddit.com/r/Superstonk/comments/rsaevv/in_march...
> In March of 2005 this guy bought 100% of shares (1.1M shares) in a traded company to prove the corruption. The next two days that same stock traded 50 million times and dropping the price 99% in two hours. All this with LITERALLY NO SHARES AVAILABLE TO BORROW OR SHORT.
The NYSE has been around for over 200 years, seemingly can't or won't eliminate this practice, and if you don't trust them what recourse do you have? Imagine if trading was implemented on some kind of crypto though: you can instantly verify exactly how many shares actually exist with zero possibility of a lie.
Your question is asking about specific projects, and I can name and espouse the interesting and unique benefits of many, but I think you should start over and look at the basic attributes of crypto that centralized systems cannot provide.
PS: Speaking of being skeptical, it's a little odd that you create a random account and just dart in to make a couple of posts about crypto. Is this somebody with an agenda or somebody trying to farm accounts with hot-button topics here?
First, from the financial and social perspective, cryptocurrencies and NFT's are straight up Greater Fool scams - theres really no way to argue it; The coins are only valuable if you are able to convince a greater fool to buy them. I understand that there are hundreds of categories where this is true, from beany-babies to diamonds, but fraud in one category does not justify rampant fraud in another. The major issue here is that, at their core, digital assets are (practically) infinitely available, and these systems exist to add false scarcity to an asset that legitimately has none.
The second part, which is why I'm so vocal about the issue, is that from a technological perspective blockchain is total garbage. There really is no nice way to say it, if a software engineer is a proponent of blockchain as the driver for "Web 3.0" they are either totally ignorant of how the technology works, or are blatantly lying so they can push a scumbag Ponzi scheme they are personally invested in. The technology has been around for as long as the iPhone, and I have yet to hear a single legitimate use case (besides wild speculative gambling and driving more crypto-related schemes) that can't be implemented cheaper, faster, safer, more private, and more secure using existing technologies. You'll hear the phrase "It's still in it's early stages" a lot, with proponents giving vague promises that one day it will work well - that is simply not how actual technological progress is made.
Mix these issues with the fact that there are only two ways to drive the technology - one that creates so much waste it uses more energy than Argentina (that is a legitimate fact, not an exaggeration), and the other is that we literally give the ultra-rich a system that rewards more money with more power and greater returns - and it should be pretty clear that blockchain and it's related assets are super, super dangerous.
Have you ever considered that a blockchain essentially reverses this concept?
Have you given any thought as to why this is valuable?