I feel like there’s probably some kind of law that distributed systems always loose out to consolidated ones due to overhead. Unless it’s explicitly for circumventing the law like torrents or most crypto currencies.
How could Ethereum possibly compete in terms of transaction cost or ease of use with Facebook or some other centralised system.
Any distributed system can be simulated by a consolidated one by just running everything internally, but the converse is much harder (unless P=NC).
So the distributed system can only win if the consolidated system is vulnerable to abuse of power, or resilience is a desired property, or lack of barriers to entry makes the distributed system better.
The money appears to be in building crypto exchange platforms, i.e. selling shovels during a gold rush. On paper, crypto is faster and cheaper to conduct transactions in compared to the 3% charged by Visa and MC.
Nothing will ruin the illusion of crypto's value faster than actually using it as a means of payment in a real business.
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[ 3.5 ms ] story [ 25.4 ms ] threadHow could Ethereum possibly compete in terms of transaction cost or ease of use with Facebook or some other centralised system.
So the distributed system can only win if the consolidated system is vulnerable to abuse of power, or resilience is a desired property, or lack of barriers to entry makes the distributed system better.
https://archive.is/QuBpG
Nothing will ruin the illusion of crypto's value faster than actually using it as a means of payment in a real business.