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Discussion on: Wait, what is this Web 5 stuff?

 
olyno profile image
Olyno

If you are talking about storing the file data inside the blockchain it's not true, it's way cheaper to store on a regular old server

I think I expressed myself wrong about storage. When I was talking about cheaper storage, I was talking about raw file storage, like pdf files, images.... using IPFS or Arewave for example. This is part of the blockchain ecosystem, but it's not exactly blockchain, you're right.

For me the only way to make blockchains worth it is to remove speculation from the equation

Unfortunately, everything is subject to speculation these days. We can sell tickets for an artist at an exorbitant price.

Then make it cheap and not as resource intensive, then we might have something usefull and that will not polute the whole planet.

Concerning ecology, I think it's a bad argument. Many people say that blockchains pollute, but it's not really the case. If we change scale, airplanes pollute more, so do factories, so do nuclear power plants. Even a simple car can probably pollute more than a modern blockchain. Moreover, the energy of the blockchain is recycled from renewable energies, or in other uses.

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nombrekeff profile image
Keff

This is part of the blockchain ecosystem, but it's not exactly blockchain, you're right.

Correct, most blockchains don't allow much data to be stored inside it, at least in the transactions themselves. Last time I experimenting with this, the bitcoin blockchain only allowed 1kb of data to be stored per transaction, so if you wanted to store a 1mb file in the blockchain you had to do many transactions. Then recompile all of them and reconstruct the image. Of course there are other options and blockchains have evolved quite a bit since I did that.

Unfortunately, everything is subject to speculation these days. We can sell tickets for an artist at an exorbitant price.

It's possible, if you don't let the users trade the coin, or even better remove the coins and currencies from the equation xD Decentralized systems should not be backed by a currency, currencies should be backed by decentralized systems.

Concerning ecology, I think it's a bad argument.

Id argue that it is, you see we're not in a point where we need to pollute more, we need to pollute less. Creating systems that require excesive amounts of power to run is not good, at least if we keep on the same track and not switch to cheaper ways to validate transactions. There are solutions out there that reduce the computing power by quite a lot, but they're still not implemented for reasons.

I agree that planes, boats, factories, etc... pollute more. But blockchain pollution does not only comes from the energy spent mining, but from the electronics that are needed to mine e.g. graphic cards, cpus, etc...

Moreover, the energy of the blockchain is recycled from renewable energies, or in other uses.

I don't think I understand what you mean here. Do you mean that blockchain uses renewable energy?

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olyno profile image
Olyno

I don't think I understand what you mean here. Do you mean that blockchain uses renewable energy?

Not every of them, but yes.