Re:Web3 is expensive P2P
by topranks on Tuesday May 17, 2022 @02:16AM
(#31406640)
Problem with crypto is pointing to all these problems of centralised systems (be they web giants, banking system etc). But not having a practical, working alternative.
It’s always “in development”, “around the corner” etc.
Blockchain is hugely inefficient and for the most part has failed to scale meaningfully. Look at popular networks like Bitcoin and Ethereum. If it weren’t for the Ponzi scams most people probably would have moved on.
Zksnarks might be great, but absolutely private transactions have downsides too. Most of us would like our daily purchases to remain private. But do we want to enable unlimited money laundering and tax evasion too?
Problems like that are social and political and technology alone can’t give a solution.
It’s always “in development”, “around the corner” etc.
Blockchain is hugely inefficient and for the most part has failed to scale meaningfully. Look at popular networks like Bitcoin and Ethereum. If it weren’t for the Ponzi scams most people probably would have moved on.
Zksnarks might be great, but absolutely private transactions have downsides too. Most of us would like our daily purchases to remain private. But do we want to enable unlimited money laundering and tax evasion too?
Problems like that are social and political and technology alone can’t give a solution.
https://www.currentaffairs.org/2022/05/why-this-computer-sci...