Re:Bored Ape virtual land sale breaks Ethereum
by ec109685 on Monday May 02, 2022 @06:35PM
(#31241962)
Something like BOYC couldn't have been build in a traditional centralized manner. 4 founders had the idea of this club and were able to build it up on the back of Ethereum without any permission needed or their own infrastructure. It might not be worth it, but that's something unique that hasn't been possible before.
Re:Bored Ape virtual land sale breaks Ethereum
by jasonshaev on Monday May 02, 2022 @06:50PM
(#31242122)
Serious question: what did they actually build?
They create images and sell them on someone else's network. I could list a JPG on eBay without having to run any infrastructure either.
One single entity being the source of truth will always be cheaper than a blockchain verifying a transaction. The caveat is if that cost is worth it.
For buying tangible goods, the gas price might be worth it since Visa/MC control what you can sell online and payment processors can be circumvented using crypto. That is a pain point.
For intangible goods, the gas price is simply not worth it. What pain point exists for owning digital goods that would require decentralization? In my opinion, none.