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@archtuxfan
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A decade ago, the Ethereum Whitepaper mentioned every usecase that has been successful - everything from stablecoins to prediction markets to name services - and some that haven't
Around that time, BitShares was already live with PoS, free and fast txs, DEXs, NFTs, memecoins, algorithmic stablecoins, user-issued tokens etc.
7 years ago, the ICO mania experimented with every possible "____ but blockchain"
4 years ago, we saw our last major wave of application innovation that proved everything discussed a decade ago
Crypto is a successful, mature industry, anyone who says "crypto is nothing but gambling" is delusional, as are those who say "we're soooo earlyyyy". Acknowledge reality, keep building on things that work, that may work, and abandon everything that has failed for many years (>99.99% crypto projects) 15 replies
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PSA: Blockchains are *NOT* decentralized, immutable, permanent, transparent, verifiable, resilient, democratic or fair, or other misused buzzwords. Sure, they can be a couple of those things depending on the blockchain, but not a fundamental property of blockchains, even if they are these are much better accomplished by non-blockchain P2P/cryptographic systems.
This is not "FUD", but to better leverage blockchains we must understand & be educated about its unique properties. Why do you think we get racist ponzis instead of useful apps? I have covered these topics at length over dozens of blog posts.
The *only* unique property of blockchains is strict global consensus - a strictly ordered, objective set of txs in real-ish time. While very limited, this property is extremely valuable for extralegal financial transactions. You probably think I'm a blithering idiot, fair, but there's at least one other person who will tell you something similar:
https://x.com/VitalikButerin/status/1743040410212053350/photo/1 9 replies
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