Re:Why Decentralization Matters (2018)
by Joker_vD on Wednesday December 01, 2021 @05:21AM
(#29402430)
> peer-to-peer technology (e.g. Bittorrent) with a distributed ledger (e.g. Bitcoin) and the social practice of sharing (e.g. Github)
2 out of 3 of those things (minus distributed ledger) has been around for about 20 years now. Y'know, The Pirate Bay and others?
Scientifically Web3 consists of: peer-to-peer technology (e.g. Bittorrent) with a distributed ledger (e.g. Bitcoin) and the social practice of sharing (e.g. Github). This will take 10-15 years more to develop further. The startups are very noisy and are now discovering that doing real "distributed systems" is very hard. They consistently cheat by using central servers. Adversarial Byzantine attacks are unsolved (or require wasteful proof-of-work to yield no performance).