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Web3 is here and it's glorious
(lemmy.world)
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this post was submitted on 20 Aug 2023
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Blockchain is stupid and cryptocurrency is a scam.
Blockchain and cryptocurrencies are pretty cool from just a technology perspective. At university I studied a lot of math and cryptography and that happened to be at the same time that Bitcoin became a thing. It could have some real applications, but scammers and cryptobros ruined it for everyone and now I can't even say I find crypto (meaning cryptography) cool without seeming like an asshat.
Blockchain is an unchangeable (unless you own the only authority as we've seen, or you fork it) database that can only grow. It HAS to have multiple, identical instances or the owner can corrupt it. I'm not sure I see any benefit here except for potential security. But we've seen blockchains get into the terrabytes pretty quickly which isn't that feasible for large-scale operations.
You're right about that for sure. But a few TB isn't that big a deal anymore, and if there was a need to deal with it we could come up with something.. or just not use it at all. ๐