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Hylé
@hyle-org
Do we even need blockchain at all? @sylve has ✨ opinions ✨ , and we turned them into a blog post. Let's talk 🧵 ⬇️
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Hylé
@hyle-org
Blockchain has two main advantages: • Trustlessness: when something works onchain, it generally means it’s irrevocably true • Decentralization: while different conditions may apply depending on the blockchain, anyone can join the network and contribute their computing power
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Hylé
@hyle-org
Most of the uses for blockchain mentioned in the Ethereum whitepaper have been implemented: tokens, voting, DeFi… Which means we should probably start thinking about what comes next 👀
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Hylé
@hyle-org
As @polynya says, blockchain is useful if you need all three of these characteristics: • Peer-to-peer • Strict global consensus • Strict objectivity
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Hylé
@hyle-org
This makes blockchains great for internet-native value: identity, money, and virtual assets. But that's about it. IRL contracts are great because you can change them. A blockchain can only parse whatever is happening inside its system. More from polynya: https://polynya.mirror.xyz/1OCMfgYf64p_CdFL7TAgEf2Zncld0Rx5LzmxBO%E2%80%A6
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Hylé
@hyle-org
You do not need a strictly coherent system with peer-to-peer operations and a strict global consensus. You may just be better off with a centralized database!
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