My impression is that the storage space is not actually capable of being used for anything. In other words, it is just as wasteful as existing cryptocurrency, just in terms of storage hardware instead of compute.

It is becoming increasingly maddening to me that people still think this is a good idea.

they're targeting 20 tps which is roughly 5x bitcoin and pretty similar to ethereum's tps. they're planning to rely on layer 2 scaling because bram thinks sharding is a bad idea when it comes to security. it's definitely not competing with s3, just trying to be better than bitcoin in terms of decentralization, power usage & programmable money with chialisp & colored coins.

Wait, it's not like Filecoin, where the space is made available to other people? The storage is just being deliberately wasted? That sounds ridiculous.