Delete comment from: DSHR's Blog
I'm glad I found this blog. Thank you for collecting all these in one place. I need to reach out because there's a lot we have to talk about.
The idea of smart contracts is great, but the underlying architecture is awful. A lot of the problems in Web3 have to do with blockchain. It just doesn't scale, so Bitcoin failed at being a "peer to peer cash system" and became a "store of value". Meanwhile, Ethereum the "world computer" has tremendously high fees as soon as any app becomes popular. Even "scaling solutions" like Polygon can easily be flooded with transactions (like Sunflower game did four weeks ago) when transactions are cheap. This is not to mention that everyone has to store everything (sharding aside), so the economics of storage need to be cleaned up from "just store this forever".
At Intercoin, we're working to fix pretty much all the problems in the space, gradually. Smart contracts should be replaced with factories (so people can trust the code again). Blockchains have to be replaced with "embarassingly parallel" distributed systems. We're building Intercloud to replace Blockchain. But in the meantime, we are building on EVM-compatible chains.
https://community.intercoin.org/t/web3-moxie-signal-telegram-and-why-decentralization-matters
https://community.intercoin.org/t/who-pays-for-storage-nfts-and-other-digital-content-in-2022
About Bitcoin and Proof of Work, I have a more dire prediction: https://news.ycombinator.com/item?id=26220992
Would you be interested in connecting to discuss this at more length?
Feb 12, 2022, 10:23:35 PM
Posted to EE380 Talk