If you are gonna downvote, say something.
I can’t tell if you’re downvoting because you saw the word “blockchain”, or you really love it.
I’m using quotes in the title, because I suspect a major amount of people use the word “blockchain” loosely to refer to other related things. If you are willing to, please provide a definition of what you mean by “blockchain” as well.
Blockchain is touted as an immutable ledger of transactions visible to everyone.
The only proper use case I can see for it is audit logs where you never want to loose what transaction happened. That being said, we have existing technologies which provide this at a smaller footprint.
I don’t hate the technology itself. What I hate is the whole grifter culture surrounding it. For example there are dozens of examples of people promising some game using the blockchain, touting it as “the future of gaming” or “the metaverse”, creating a token, making millions from it and then delivering nothing, or a barely changed UE template. On the other hand, there are few if any examples of projects using a blockchain that are actually useful, at least for anything besides basic monetary transactions.
So whenever I see a project mentioning the blockchain, the scam alarm bells go off in my head and my skepticism rises 1000x.
This is why I asked this question. I suspected a lot of people are just hating the economic abuse instead of the technology itself.
Like people are downvoting because they saw the word “blockchain” (I’m guessing. Downvoters tell me why)
I had to download like 60GB worth of blocks over about 2 weeks a couple months ago, just to confirm I’m indeed broke and nobody takes Zcash anymore anyway.
The only thing it scales well at is needlessly sucking a stupid amount of power. The chains are huge and full of spam. Nobody can afford the gear to mine anymore so we’re back to the rich elites making more money.
It’s all the scams, crypto-bros and stupid, unnecessary “use-cases” that it got applied to, just to make someone a big pile of money. Also: I didn’t get rich.
The reason I am generally skeptical of the technology is the same reason I’m not going to try to give you a definition.
I’ve never seen it solve a problem or be proposed as a reasonable solution to a problem. What happens instead is that someone says “could we do BLOCKCHAIN for this, it’ll make it way more modern” and the subset of people that want to look really forward-leaning and cool say “YEAH”. If that subset of people is loud enough, a lot of money gets spent and a bunch of implementers have to figure out how to jam in something they can say is blockchainy… leading to a proliferation of definitions.
The results have been universally more expensive applications with fewer helpful features. I don’t like “blockchain” because everything that touches it gets worse.
