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It's absolutely staggering to me that people believe everyone will self-host the decentralized social network, without thinking through the economics of the inc
by lazzlazzlazz 6y ago
It's absolutely staggering to me that people believe everyone will self-host the decentralized social network, without thinking through the economics of the incentive layer, let alone how to achieve consensus/verification on compute and storage layers.
The first successful decentralized social network will be using the decentralized compute and storage systems being developed in the crypto space.
- WClayFerguson 6y agoYou're right, if it weren't prohibitively expensive to store social media data on Ethereum (for example) then that's exactly what all the decentralized developers (including myself) would already be doing. I checked the Gas price on ETH and quickly concluded that's not even remotely sensible to use it for social media networks, and the bigger problem is that if something became hugely popular that could drive up ETH gas prices too, so building on that infrastructure seems risky from a cost perspective.
- loceng 6y agoIt will always be cheaper to not use the blockchain for storage - most things aren't critical, sensitive or important enough to necessitate being stored in such a way.