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Absolutely content-free article that brings no new or useful criticisms (of which there are plenty) to the table. If anyone is looking for useful criticisms of
by Ar-Curunir 5y ago
Absolutely content-free article that brings no new or useful criticisms (of which there are plenty) to the table.
If anyone is looking for useful criticisms of "web3", here are a couple:
* there is no meaningful privacy on most popular chains; everybody can see your transaction history
* it's difficult for new nodes to join and check the history, making decentralization difficult, and also leading to some of the centralization issues mentioned in the article
* the popular chains have low transaction throughput and latency due to reliance on outdated consensus mechanisms (BTC, Ethereum) and/or due to the need to enable weaker computers to check history (but see previous point).
* losing your funds is easy if you lose your key
There's tons of research being done to resolve these issues, ranging from improved cryptographic proof mechanisms such as zkSNARKs and interactive fault proofs, to better consensus and sybil-resistance mechanisms, but this stuff takes time, and is literally the cutting-edge of these fields, so impact is delayed.