Continues to be the greatest misconception in the crypto space, and the key reason behind billions of dollars in malinvestment

The *only* thing blockchains are good for is forming strict global consensus

For almost all purported usecases, P2P, CRDTs, or just databases with validity proofs are significantly superior

It's the only misconception worth discussing. Blockchain for strict global consensus. And for everything else, there's mastercard (validium, zk-servers). But aside from bad faith I think the main reason this confusion happens is because blockchain is such a strong concept to latch onto that it's difficult to imagine anything else being possible. That's why we believe blockchain invented the word decentralized.

Alas, as they say, incentives talk. Here's my speculation on why said incentives are so warped

It's a self-correcting process, but it's going to be more painful than it needs to be

Alas, as they say, incentives talk. Here's my speculation on why said incentives are so warped

It's a self-correcting process, but it's going to be more painful than it needs to be

https://polynya.mirror.xyz/OXfL6yiNu7wxiLlcoKX3d6EIsVoiB1a7k9MkDIthBAA