The blockchain vs the Fediverse :fediverse: :

I would bet somebody actual money that they physically could NOT find a blockchain application that isn't, at it's core, a financial transaction engine.

It's simply not possible to do with the blockchain. That's why crypto investors like Web 3 while everyone else really doesn't.

The blockchain is great for transactions. That's it.

ActivityPub and other web protocols are the exact opposite, made for everything but financial transactions.

1/many 🧵

Distributed vs Federated.
Both are decentralized.

Federated systems are a lot more modular and require a lot less trust to be built into a protocol then distributed systems.
Because of this, they are inherently worse for transactions, but a lot better for things like social media and communication.

Web 3 is trying to make a distributed system do what really should be done by a federated system. The result is a clunky implementation of anything attempting to implement the protocol.

2/many 🧵

This is why Web 3 is inherently flawed. :blobcatthink:

Blockchain systems are really only good for transactions.

Federated systems are good for everything but transactions.

I only have a problem when somebody tries to make one do what the other should.

That's all, have a nice day :)

3/3 🧵

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@Linux_in_a_Bit Most bitcoiners these days will agree with you. Bitcoin is a good currency which requires an inherently inefficient design in order to make it politically independent & censorship resistant. Blockchain is mostly useless in other contexts (unless you count things like git).

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