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So far, there hasn't been any killer use case for ethereum yet. Everything it does, can be done more efficiently outside of the ethereum network. Some say that
by um_ya 9y ago
So far, there hasn't been any killer use case for ethereum yet. Everything it does, can be done more efficiently outside of the ethereum network. Some say that its "decentralized" on ethereum though, but this isn't true, because a lot of the inputs to ethereum contracts originate from a centralized source. For instance, if you want to make a smart contract that sends you 100 eth based on the outcome of a basketball game, the centralized source where you get the trigger on who won the game, is the centralized source your contract has to trust. It doesn't really matter whether the contract was executed on the ethereum network, it is still vulnerable to centralization. Whats the difference between that and just making it work on bitcoin by having a service sign a multisig transaction sending you btc if the basketball team wins? The only way something can truly be decentralized, is if all the actions in the smart contract are primitive actions based within the network itself. For instance, if y address receive 1 eth, send x address 2 eth. Neither action requires trust outside the ethereum network.