the security of a blockchain in directly tied to the number of users actively participating. You need to incentivize users to keep participating indefinitely. You do this by rewarding them with something that they value. As the number of users dwindles, so does the network’s security. So how can a blockchain work on anything that isn’t a cryptocurrency? If it’s not a currency, then it can’t be used to motivate people to participate in the network. After all, you are spending real money to pay for the electricity to mine. If there’s nothing to pay you back with, that’s just money out of your own pocket. Who the hell would accept such a deal?
Comment on 62% of Funded Blockchain and Web3 Companies Attract Fewer Than 100 Monthly Organic Visitors
cron@feddit.org 4 months ago
It’s lile 5 years and I still have not seen one good use case for blockchain except cryptocurrencies.
vrighter@discuss.tchncs.de 4 months ago
EisFrei@lemmy.world 4 months ago
Even that use case seems almost meaningless, as most people store their crypto in centralised exchanges.