![]() ![]() "3) Impossibility of Full Decentralization in Permissionless Blockchains by Yujin Kwon et al (1st September 2019) provides a different formalization of the idea that economies of scale drive centralization by introducing the concept of the "Sybil cost": And unfortunately decentralizing away from a small handful of powerful entities is one of these things. This blog post has a bunch of citations "showing that some assertion about the cryptocurrency ecosystem that crypto-bros make can't be true". We can mince words over the value prop of cryptocurrency and a decentralized ledger but, I don’t get the same belonging to a community on AWS or GCP.įWIW most of the people I work with in the community dislike the same scammers that you do. There is a community of developers extending the ecosystem and it’s exclusively people who invest in and use the platform. It’s just an expectation.Įthereum is like that. Similar to how you may deploy an open standard of authentication inside your infrastructure, the expectation is that the community will improve tools and share innovations over time even if you aren’t directly interacting with any of them. In order for my application and yours to interact we had to both chose the same ecosystem and invest in it to some minimal degree.īut there are some positive aspects to that mutual agreement to invest. The interface to the globally available computation is a bit different and I think novel. I understand and agree with a lot of the hate crypto gets and a significant amount of the use cases are nothing more than pipe dreams (or just outright scams,) but from a theory perspective I can't help but think it's at least a little bit fascinating to see people try to apply data structures this way. It would be nice if this technology was given a larger purpose, but I think any possibility of that quickly went out the window once someone realized they could get rich. I think it's interesting that I can send Nano to someone instantly and without any gas fees while still using blockchains. I find Iota's Tangle interesting as an application of a DAG for financial and data transactions. I think it's interesting that via Ethereum, I can spend Ether to perform distributed computations on nodes across the globe and that this also serves as a store of value. From looking around the internet I am starting to believe I might be the only person holding crypto strictly because I just happen to think it's neat. ![]()
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