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rafiwrath t1_jabe1ih wrote

lol, no it is not…web3 is complete an utter garbage


CunningCobra t1_jabf047 wrote

Web3 is a buzzword devoid of any real meaning.


Heijoshinn t1_jac3pp5 wrote

> This would be done through blockchain; rather than relying on single servers and centralized databases, Web3 would run off of public ledgers where data is stored on computer networks that are chained together.

Hell f****n no. Hard pass.


MagicMike2212 t1_jad9zix wrote

Words that needs to be banned from /r/technology is "Web3" "Crypto" "NFT" "Blockchain"


JonStrickland t1_jacoay3 wrote

I feel like this article could have been written a year ago. I also think no discussion of Web3 is complete without acknowledging how terrible the back half of 2022 was to blockchain in general and crypto/NFTs in particular. Before that calamity, Web3 already faced technical challenges relating to scalability, transaction speed and the danger of VCs dominating the space, essentially giving them the voting authority to dictate what happens. Also, it's odd to see any Web3 discussion without mention of DAOs and smart contracts. But anyway, on top of all that, you now have an environment in which investors are a bit less cavalier with the blockchain/crypto world. The collapse of FTX, Binance under investigation and governments around the world honing in on regulations are making the former gold rush seem like a trap. On top of that, you still have scam artists ready to take advantage of anyone who shows a combination of ignorance and enthusiasm in the space, so even if you move forward with the best of intentions there are plenty of people who are ready to poison the well. If Web3 is ever to be more than some sort of glorified MLM, the folks trying to make it need to acknowledge the problems (not just the technical ones) and address them.