32 votes

Web3 is going just great

8 comments

  1. [4]
    3_3_2_LA
    Link
    web3 == nft's + crypto? Is that all there is to it? Genuine question!

    web3 == nft's + crypto?

    Is that all there is to it? Genuine question!

    4 votes
    1. [3]
      Sheep
      (edited )
      Link Parent
      I suppose it's more broad than that. From my understanding, web3 is envisioned as the move away from the corporate owned and centralized web2 to a decentralized system controlled by the individual...

      I suppose it's more broad than that.

      From my understanding, web3 is envisioned as the move away from the corporate owned and centralized web2 to a decentralized system controlled by the individual with blockchains and AI and what have you.

      Of course, such a vision is incredibly controversial and it's highly contested whether or not technologies like blockchain even address the issues its proponents claim it addresses. The biggest problem being that this sort of system invites a lot more scams/grifting (and of course the huge environmental impact of stuff like NFTs)

      Obviously the notion of a more decentralized web isn't bad necessarily either, it's just whether or not blockchain and other things in the crypto world are really the best way to move forward with that that's contested.

      9 votes
      1. post_below
        Link Parent
        I'd go farther and say that it's not really a legitimate debate. The crypto world is always looking for the next thing that will hype crypto, this is the next thing. I don't think anyone without a...

        I'd go farther and say that it's not really a legitimate debate. The crypto world is always looking for the next thing that will hype crypto, this is the next thing.

        I don't think anyone without a stake in that economy genuinely believes blockchain is the way to create a decentralized web. The hurdles are big, obvious and currently insurmountable. Fees, speed (blockchain is way too slow for most proposed solutions), scalability, etc..

        But I think you can comfortably put aside all of the technical details because the environmental cost outweighs everything else. It's irresponsible to even be considering blockchain, for any wide use case, as long as that's true.

        10 votes
      2. petrichor
        Link Parent
        See, that's great! That's like torrents and IPFS, about personal websites and the IndieWeb movement! oh no I hadn't heard of DeviantArt Protect, linked in one of the showcases, before.

        web3 is envisioned as the move away from the corporate owned and centralized web2 to a decentralized system controlled by the individual

        See, that's great! That's like torrents and IPFS, about personal websites and the IndieWeb movement!

        with blockchains and AI and what have you

        oh no


        I hadn't heard of DeviantArt Protect, linked in one of the showcases, before.

        6 votes
  2. [4]
    DeFaced
    Link
    I really hate the idea of nft’s, it’s clearly another case of technology that could be used for a legitimate purpose but instead it’s being exploited and used for money laundering in the worst...

    I really hate the idea of nft’s, it’s clearly another case of technology that could be used for a legitimate purpose but instead it’s being exploited and used for money laundering in the worst ways possible.

    1 vote
    1. [3]
      Rudism
      Link Parent
      Is there a legitimate use case for NFTs that couldn't be solved through cheaper means? For example an artist could cryptographically sign their art along with a message containing the name of the...

      Is there a legitimate use case for NFTs that couldn't be solved through cheaper means? For example an artist could cryptographically sign their art along with a message containing the name of the person who purchased it (or whatever other details they wanted in order to prove genuineness and authenticity) using their private key, which could then be verified by anyone using the artist's public key. This would be less expensive both financially for the artist (no gas fees) and on the environment.

      6 votes
      1. teaearlgraycold
        Link Parent
        I really like the idea of using NFTs for domain names. A registrar could use a blockchain (ideally proof-of-stake) and store the record of who has which domain in a contract (probably a different...

        I really like the idea of using NFTs for domain names. A registrar could use a blockchain (ideally proof-of-stake) and store the record of who has which domain in a contract (probably a different contract per TLD). You could make a functioning NFT system in just one registrar and have an oracle for externally held domains. But ideally ICANN itself would initiate the transition to a domain blockchain.

        This would be superior to the current state of affairs where you need to go through a middleman corporation to buy a piece of digital real estate. Instead you'd have smart contracts regulating domain expiration, pricing, etc. In my opinion NFTs map very well onto the market for domain names. Registrars are an existing distributed system for digital scarcity. We could also NFT-ize IP address registration, thus allowing DNS to be managed via a blockchain.

        It's not something that needs to be done. But it's the best use case I've been able to imagine since I started thinking up NFT cash-grabs.

        5 votes
      2. meff
        Link Parent
        NFTs make a good fit to virtually represent any "naturally" scarce good. Say IP addresses, DNS hostnames, concert tickets, fractional ownership of a physical asset, etc. I personally find the idea...

        NFTs make a good fit to virtually represent any "naturally" scarce good. Say IP addresses, DNS hostnames, concert tickets, fractional ownership of a physical asset, etc. I personally find the idea for art NFTs really silly because it's not tied to a "naturally" scarce good.

        3 votes