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"Facebook, but owned and governed by its users" Only good in theory, not in practice. A Facebook or Twitter built on blockchain will be too expensive. The PoW r
by yashg 5y ago
"Facebook, but owned and governed by its users"
Only good in theory, not in practice. A Facebook or Twitter built on blockchain will be too expensive. The PoW requirement will make it expensive to add new posts to the chain. Over time, as more and more people join the network, the cost will only increase. Yes, noone will be able to ban the President of the US from this network but only select few who can afford to pay the huge gas fees will be able to post.
- acdha 5y agoThe other side of that is abuse: if no one can be stopped from posting, that means no one can stop spammers and other phishers, prevent things like revenge porn which are required in many jurisdictions (e.g. how would it go if you couldn’t ban Nazi content in Germany?). Whether or not that system could even function, it doesn’t sound like something many people would choose to pay for. It seems like it would be Usenet except far more expensive and slowed by the inability to function asynchronously.