5 ms·
Part of the problem is that they're slow and expensive to use. Although Cryptokitties had (in web terms) a miniscule number of users performing tiny transaction
by astoor 5y ago
Part of the problem is that they're slow and expensive to use. Although Cryptokitties had (in web terms) a miniscule number of users performing tiny transactions, that was enough to essentially break Ethereum in 2017[0]. There are other blockchains now that try to resolve these issues though.
The other fundamental problem is connecting the blockchains to the outside world. There are various libraries to help with this, e.g. web3.js for Ethereum, but this typically means most DApps are inward-looking (exchanges, DeFi, token-based games etc.) rather than providing any non-crypto-related functionality. That of course makes it look to many people (rightly or wrongly) that DApps, DeFi, etc. all just serve two functions: (i) "plausible deniability" (look, my cryptocurrency does all this, so it can't just be a pyramid scheme), and (ii) sustain the pyramid schemes (i.e. keep them going for longer, draw more people in etc.).
Relating this to your example of selling a house as an NFT, there was an attempt to do so earlier in the year[1], but the key point is "Whoever purchases the NFT will be able to contact the seller and organize the sale of the house through standard legal means." So if you buy the NFT, you are not buying the house, but buying a brochure with the particulars you'd need to try to actually buy the house. That is the fundamental issue: to do anything useful you still need to interact with the real world. And personally, when it comes to something like buying a house, I'd much rather deal with real people, than hope I don't irreversably lose all my money due to an unfixable bug in the immutable smart contract or someone typing in the wrong address or something.
Anyway, take a look at https://dappradar.com/ https://dappradar.com/ for DApp listings.
[0] https://www.bbc.co.uk/news/technology-42237162 https://www.bbc.co.uk/news/technology-42237162
[1] https://decrypt.co/66173/a-house-in-germany-is-being-sold-as-an-nft https://decrypt.co/66173/a-house-in-germany-is-being-sold-as...
- chrisco255 5y agoEthereum has long since moved past Crypto kitties and now regularly transacts tens of billions of dollars a day in volume on-chain in DeFi apps like Aave, Compound, Sushi and Uniswap. And there is a whole ecosystem of gaming cropping up including Axie Infinity (which is more popular now than Kitties ever was), Aavegotchi, Gods Unchained, Dark Forest, Illuvium and more.
- DennisP 5y agoAnd with rollups it can do that at several thousand transactions per second. Some rollup implementations are in production today, and apps are gradually migrating to them.