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I’ve been on a deep dive into crypto and Ethereum in particular for a while now, and I’ve yet to find any actual utility for the technology other than currency.
by mypastself 5y ago
I’ve been on a deep dive into crypto and Ethereum in particular for a while now, and I’ve yet to find any actual utility for the technology other than currency. And even that one is as yet unproven.
The vast majority of smart contracts seem to rely on a trusted external source for their operation. Others seem not to benefit from the decentralized solution at all.
There is also a serious question of whether the excessive democratization will lead to tyranny of the majority. In the case of Ethereum, the majority has gone along with each of the hard forks proposed so far.
I find the technical aspects of crypto compelling, but I still remain highly skeptical of its applications.