Author Topic: bitshares 101 - Internet is dumb  (Read 639 times)

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Offline bitcoinsfacil

bitshares 101 - Internet is dumb
« on: August 08, 2019, 12:28:27 pm »
The network, the protocol, the architecture. Not the users, they are using a tool to express, their dumbness is not a technology problem.

It works, don't get me wrong. Private companies lay the cables and lease the usage, that is faulty. The idea at that moment made sense. There was a telecommunication monopoly to break. Expand while incentivizing the business people to invest in the infrastructure. Let them take care of the final endpoints. Simplest business model: "Pay me and I will get your data into another point".

People are smart even if the underlying protocol is not. New revenue models appeared: "Pay me while I check your data, resell it and then get it into another point".

Internet is dumb not because it lacks "smart contracts". It is not meant to be intelligent, it needs to transport information. Web data centers offer you 99.9% uptime. Isn't bitcoin uptime for 10 years 100%?

There is no single point of failure on a decentralized blockchain. There is no way around that. When you get protocols looking like blockchains, check the simplest fact.

How decentralized is it?