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I've looked into some of the engineering that goes into Web3, and while I'm incredibly impressed, I can't quite shake the feeling that all we're doing is gettin

by xmprt 5y ago

I've looked into some of the engineering that goes into Web3, and while I'm incredibly impressed, I can't quite shake the feeling that all we're doing is getting really good at counting paperclips. What real world problems does Web3 solve? It seems like Web3 has a ton of great solutions to problems that Web3 creates. Most problems that Web3 claim to solve can be solved through non blockchain solutions and even decentralization doesn't require a blockchain. The Internet is already decentralized to begin with.

ssss11 5y ago
The internet is not decentralised name one application or website which does not require a server in the middle between two clients. Edit: but I agree there are already ways Web3 things can be done, and decentralization can be done without blockchain - the question I think is whether this impressive engineering is better than the existing ways
- captn3m0 5y ago
  BitTorrent? BGP? SMTP?
  - ssss11 5y ago
    For BitTorrent isn’t there a tracker server which establishes your connection to the swarm? BGP - as in for routers? I’m talking end user applications SMTP - needs a server I believe, in any case there may be a way to craft and send emails on the cli but end users aren’t using that
    - captn3m0 5y ago
      DHT doesn't use trackers: https://en.wikipedia.org/wiki/Mainline_DHT https://en.wikipedia.org/wiki/Mainline_DHT What's true for SMTP also holds for BTC etc. Most users are just handing custody to exchanges, so crypto isn't really decentralized either.
- easrng 5y ago
  BitTorrent.
deleted 5y ago
[deleted]
shiohime 5y ago
Personally I've been exploring the concept of proof of ownership in the NFT space. I think there is a lot of potential in the technology that helps benefit creators and cuts out the middle man. I know we are quite a ways out from doing something like this, but it is feasible to do something like self-publish a video game and distribute as tokens, then sell it on a decentralized platform. It would cut platforms like Steam who take a large percentage out of the equation. Of course, Steam as an ecosystem is incredibly valuable, but it's just the first example that came to mind. Really, the way I look at this is that in the past few years we have had a lot of engineering talent to explore the space and come up with unique products and ideas that the web3 toolkit enables, and we'll continue to see growth in the space. My first proof of concept dapp I made earlier this year was a scheduling application that allows for you to arbitrarily schedule something on another ethereum address' calendar, assuming that they have initialized their profiles and set their rates, using an escrow to handle all monetary interactions. I could then host my dapp on a file storage system like arweave or IPFS, paying one time for hosting instead of a perpetual hosting fee. It wasn't perfect but it was a fun proof of concept. But yeah, I think we'll continue to see a lot of innovation in the space, and see some really cool products over the next few years. If you have any doubt, the fact that a company the size of Facebook decided to pivot their company, brand and all, towards metaverse development (which will directly be utilizing NFTs), that should be a signal that web3 is going to continue to evolve.

by xmprt 5y ago

ssss11 5y ago

The internet is not decentralised name one application or website which does not require a server in the middle between two clients. Edit: but I agree there are already ways Web3 things can be done, and decentralization can be done without blockchain - the question I think is whether this impressive engineering is better than the existing ways

captn3m0 5y ago
BitTorrent? BGP? SMTP?
- ssss11 5y ago
  For BitTorrent isn’t there a tracker server which establishes your connection to the swarm? BGP - as in for routers? I’m talking end user applications SMTP - needs a server I believe, in any case there may be a way to craft and send emails on the cli but end users aren’t using that
  - captn3m0 5y ago
    DHT doesn't use trackers: https://en.wikipedia.org/wiki/Mainline_DHT https://en.wikipedia.org/wiki/Mainline_DHT What's true for SMTP also holds for BTC etc. Most users are just handing custody to exchanges, so crypto isn't really decentralized either.
easrng 5y ago
BitTorrent.

deleted 5y ago

[deleted]

shiohime 5y ago

Personally I've been exploring the concept of proof of ownership in the NFT space. I think there is a lot of potential in the technology that helps benefit creators and cuts out the middle man. I know we are quite a ways out from doing something like this, but it is feasible to do something like self-publish a video game and distribute as tokens, then sell it on a decentralized platform. It would cut platforms like Steam who take a large percentage out of the equation. Of course, Steam as an ecosystem is incredibly valuable, but it's just the first example that came to mind. Really, the way I look at this is that in the past few years we have had a lot of engineering talent to explore the space and come up with unique products and ideas that the web3 toolkit enables, and we'll continue to see growth in the space. My first proof of concept dapp I made earlier this year was a scheduling application that allows for you to arbitrarily schedule something on another ethereum address' calendar, assuming that they have initialized their profiles and set their rates, using an escrow to handle all monetary interactions. I could then host my dapp on a file storage system like arweave or IPFS, paying one time for hosting instead of a perpetual hosting fee. It wasn't perfect but it was a fun proof of concept. But yeah, I think we'll continue to see a lot of innovation in the space, and see some really cool products over the next few years. If you have any doubt, the fact that a company the size of Facebook decided to pivot their company, brand and all, towards metaverse development (which will directly be utilizing NFTs), that should be a signal that web3 is going to continue to evolve.