Saved by Tanuj
Blockchain-based systems are not what they say they are
The main use-case of web3 is speculation and money laundering. We’ve been promised much more, but at this point blockchain technology is over a decade old. It didn’t take web1 nearly this long to flourish after the browser and HTTP were invented. Shouldn’t more have happened by now?
Nathan Baschez • The two biggest critiques of web3, analyzed
Obviously, things like Amazon Web Services and wireless networks already exist. But blockchain incentives, consensus mechanisms, and smart contracts can do it all in a fundamentally different, more decentralized way. Once I saw that this decentralization has a variety of technical, economic, and political advantages, it became started to become cle... See more
Will Wilkinson • Is Crypto Bullshit?
I believe this story, this decentralization fairy tale, is predicated on an error. It’s the same error that underlies most utopian projects.
Haseeb Qureshi • Why Decentralization Isn't as Important as You Think
All this means that if your NFT is removed from OpenSea, it also disappears from your wallet. It doesn’t functionally matter that my NFT is indelibly on the blockchain somewhere, because the wallet (and increasingly everything else in the ecosystem) is just using the OpenSea API to display NFTs, which began returning 304 No Content for the query of... See more