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A comment on Do developers think Web3 will build a better internet?. Parent comment

Re:Do developers think Web3 will build a better internet? by jollybean on Thursday April 28, 2022 @01:20AM (#31189018)
Yeah - that second part is neat, but existential problems arise with 'smart contracts' long, long before we get to nuances of perverted expenses with respect to saving costs on contract length.

Smart 'contracts' are not really 'contracts' - they're kind of bits of code. They're going to effectively be governed more broadly by 'real' contracts in in the regular sense whereupon the Blockchain contracts are merely terms of a specific exchange i.e. something like placing a 'buy/sell' order on an exchange.

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Re:Do developers think Web3 will build a better internet? by Vanit on Thursday April 28, 2022 @02:43AM (#31189416)
Well, they're a type of contract.

https://en.wikipedia.org/wiki/Deal_with_the_Devil

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Re:Do developers think Web3 will build a better internet? by Ekaros on Thursday April 28, 2022 @02:46AM (#31189438)
I haven't dig enough to them. But it seems that they are mostly shitty code moving numbers around or creating new variables and doing stuff with them... So pretty standard, but scary part is that those numbers are "money"...
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Re:Do developers think Web3 will build a better internet? by jollybean on Thursday April 28, 2022 @03:04AM (#31189551)
The courts will decide what exactly they mean and it could take a very long time for the kind of legal clarity we need to really go ahead with meaningful things.

Maybe something will establish itself as kind of a de facto standard long before that which may in and of itself be the 'legal precedent'.

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