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Web3 Will Not Be Built on Smart Contracts • DeSo (Decentralized Social) Blockchain
The success of web3 hinges on innovation to solve new security challenges created by different application architectures. In web3, decentralized applications or “dApps” are built without relying on the traditional application logic and database layers that exist in Web 2.0; instead, a blockchain, network nodes, and smart contracts are used to manag... See more
Techcrunch • Success of web3 hinges on remedying its security challenges
RisksThe flywheel effect described above can only play out IF and only IF activity on the Ethereum network continues to increase. However, as we discussed above, high transaction costs have resulted in many users migrating to alternative blockchains, stealing meaningful market share from Ethereum in 2021, and who now have sufficient critical mass t... See more
Ori Eldarov • Ethereum Tokenomics: Powerful Flywheel or Cycle of Doom?
There isn’t much that blockchains enable that would be impossible to implement in a web2 way. It wouldn’t be trustless and decentralized—but the benefits of decentralization are way too abstract and vague to compel most people.
Nathan Baschez • The two biggest critiques of web3, analyzed
This gets to the other mistake Diehl makes in that article, which, ironically, echoes a similar mistake made by many crypto absolutists: there is no reason why the Metaverse, or any web application for that matter, will be built on the blockchain. Why would you use the world’s slowest database when a centralized one is far more scalable and perform... See more