4 ms·

Is it really a joke? Because if this is seen as a valid argument in the Ethereuem community then they've really gone off the deep end.

by amasad 8y ago

wuliwong 8y ago
Decentralization is not my area of expertise but I am growing very interested. I've recently been learning a lot more about building decentralized apps using blockchains and distributed file storage. Could you expand a little upon why this is a joke? I understand that it is not describing a good situation but my understanding was that the miners are a part of the decentralizing infrastructure in the way that was described in the quote. Also, if you wouldn't mind, could you suggest some other reading for me on creating decentralized applications not using blockchain. I've wondered myself if it makes much sense that everything would be built on blockchains in the future.
- StreamBright 8y ago
  Everything is centralized on the internet. People quite often forget that most of the internet backbone is vulnerable to all sort of attacks (BGP hijacking) or even just mass surveillance because most of the traffic is going through few devices. Unless I can directly reach your computer on the network without a 3rd party provider which can deny me that access you can't be seriously thinking about decentralization. Another issue that I see with these projects that claim to be decentralized, for example ipfs.io is that they do not consider worst case scenarios so they cannot have a service level agreements on their service. Most of the customer networks are asymmetric, you have much more bandwidth to download content than to upload so if you are providing services than you are going to saturate your uplink. Nodes can also be turned off, worst case scenario is that all of the nodes are off that has a piece of data that you can't recover from anywhere else. As of everything going to be built on the blockchain in the future, most definitely not. I think 2019 going to wipe out most of the cryptocurrencies and we are going to see very few successful blockchain (or more like distributed ledger) projects succeeding in the corporate space. Maybe there will be some use cases for blockchain/DLT like food traceability (one project i have contributed to) and customer warranty for example but all this hype that everything will be running on blockchain will just fade.

Is it really a joke? Because if this is seen as a valid argument in the Ethereuem community then they've really gone off the deep end.

by amasad 8y ago

Is it really a joke? Because if this is seen as a valid argument in the Ethereuem community then they've really gone off the deep end.

wuliwong 8y ago

Decentralization is not my area of expertise but I am growing very interested. I've recently been learning a lot more about building decentralized apps using blockchains and distributed file storage. Could you expand a little upon why this is a joke? I understand that it is not describing a good situation but my understanding was that the miners are a part of the decentralizing infrastructure in the way that was described in the quote. Also, if you wouldn't mind, could you suggest some other reading for me on creating decentralized applications not using blockchain. I've wondered myself if it makes much sense that everything would be built on blockchains in the future.

StreamBright 8y ago
Everything is centralized on the internet. People quite often forget that most of the internet backbone is vulnerable to all sort of attacks (BGP hijacking) or even just mass surveillance because most of the traffic is going through few devices. Unless I can directly reach your computer on the network without a 3rd party provider which can deny me that access you can't be seriously thinking about decentralization. Another issue that I see with these projects that claim to be decentralized, for example ipfs.io is that they do not consider worst case scenarios so they cannot have a service level agreements on their service. Most of the customer networks are asymmetric, you have much more bandwidth to download content than to upload so if you are providing services than you are going to saturate your uplink. Nodes can also be turned off, worst case scenario is that all of the nodes are off that has a piece of data that you can't recover from anywhere else. As of everything going to be built on the blockchain in the future, most definitely not. I think 2019 going to wipe out most of the cryptocurrencies and we are going to see very few successful blockchain (or more like distributed ledger) projects succeeding in the corporate space. Maybe there will be some use cases for blockchain/DLT like food traceability (one project i have contributed to) and customer warranty for example but all this hype that everything will be running on blockchain will just fade.