I have no misconceptions of the misuses with the way some of the protocols have been used. The demonization of the technology on the other hand is laughable to me. Many people who detract from the tech will often post videos like this, or point out some of the popular talking points like rug pulls and ethereum forks and rampant phishing scams that lead to lost currency.
Theory vs. practice. You're interested in the theory, the technology itself, but people are interested in how that technology is being used in practice today. And here, unfortunately, for the most part, all you find is "misuses with the way some of the protocols have been used".
But that's because there is no really good use case for distributed ledger (although as concept they are interesting). And by "really good" I don't mean "would be possible", I mean "that can ONLY be done efficiently with distributed ledger". Except of course crypto.
I'm going to do this one time, because what you're saying is completely anecdotal and not based on what is being used right now.
Render Network and RNDR Token: It's an automatic network rendering farm on blockchain. It puts to use idle GPUs to render cinema4d scenes. It's in use now, and it pays for that use through RNDR tokens.
Network rendering is nothing new, but now there's a novel way to leverage blockchain in a much larger farm, where miners can choose to use their CUDA enabled GPU. This greatly reduces the time to render scenes.
XAYA Platform: Uses blockchain in many different ways to create games and experiences. It's not a game, and it's not a monetization scheme. The platform provides an opensource license and the games built can leverage a lot of blockchain based benefits, such as serverless design, scalability and upgraded security. There are some nuances to the use of this platform, but there are several games in development and some are currently playable in early access.
Mediachain : Mediachain is a secure platform for musicians who have lost substantial funds from their music. As a smart contract platform musicians can provide and authorize their work and get paid for its use and more. Licensing via smart contract is one of the better uses of smart contracts.
Ligero protocol: A security protocol created to leverage blockchain for private smart contracts and secure data transfers through blockchain cryptography and zero knowledge proofs. Not everything has to be public facing to be an important use of the tech.
These are just some of the many blockchain companies and protocols with real world use. This is being used today. Many uses may or may not require tokens to utilize the service or to opt in to be part of the network, but the monetization of the tokens are not the usage of the applications as a whole.
Again, do you NEED blockchain to do any of this?
Do you need concrete to make a road, or bricks to make a house, or cotton to make clothing? I don't need alexa to turn my lights on and off either. I think it's a silly argument to say you can do everything without blockchain.
You can create blockchain applications without blockchain too, and people have every right to do that, but there's a reason why they don't, and it has nothing to do with earning money.
These are just some of the many blockchain companies and protocols with real world use. This is being used today. Many uses may or may not require tokens to utilize the service or to opt in to be part of the network, but the monetization of the tokens are not the usage of the applications as a whole.
I don't deny that there are proof-of-concept applications. And I don't deny that there are start-ups that rely on blockchain. But as far as I know, there is no established service outside the crypto space that is built on blockchain.
For example, there are significant unresolved issues regarding the applicability of smart contracts in copyright licensing. Among other things, there is no consensus in legal systems on how code as a contract fits into traditional concepts of contract law. In general, it is unclear how disputes between pseudonymous parties, typical of blockchain-based smart contracts, should be resolved.
Regarding the Render Network and the RNDR token: I could not find any information on what advantages this project has over distributed computing projects like SETI@home. The only things I have found are pages and videos that value the token as an "investment" or generate FOMO.
IMO blockchain is just a solution in search of its problem even after 10 years.
These are just some of the many blockchain companies and protocols with real world use. This is being used today. Many uses may or may not require tokens to utilize the service or to opt in to be part of the network, but the monetization of the tokens are not the usage of the applications as a whole.
I don't deny that there are proof-of-concept applications. And I don't deny that there are start-ups that rely on blockchain. But as far as I know, there is no established service outside the crypto space that is built on blockchain.
For example, there are significant unresolved issues regarding the applicability of smart contracts in copyright licensing. Among other things, there is no consensus in legal systems on how code as a contract fits into traditional concepts of contract law. In general, it is unclear how disputes between pseudonymous parties, typical of blockchain-based smart contracts, should be resolved.
Regarding the Render Network and the RNDR token: I could not find any information on what advantages this project has over distributed computing projects like SETI@home. The only things I have found are pages and videos that value the token as an "investment" or generate FOMO.
IMO blockchain is just a solution in search of its problem even after 10 years.
This is such a strange argument.
First it hasn't been 10+ years of these apps. It's been 13 years of bitcoin, but the majority of dapps are built on ethereum and many on alternative protocols. Bitcoin doesn't even have native smartcontracts, everything would need to be built through script. That's part of why you don't see many NFT's on bitcoin, and they often choose to use alternative networks to build them off mainnet.
Then you have transactional limitation to bitcoin, the environmental impact, both huge hurdles that you don't have with other protocols.
Ethereum has been out for about 7 years, with dapps in creation for the past 6 or so years, with the same environmental imact problem and built on proof of work that has already been considered a costly and outdated validation process. Solana has only been around for about 5 years, algorand for about 4, and so on and so forth.
With each protocol they get more efficient, secure, provide more features, allow for more transactions per second, and have a far less environmental impact (some are even carbon neutral or carbon negative)
I provided 4 uses of blockchain protocols that are outside monetization, but there are hundreds of others out there. You look at the render network and see pages and videos of investment, but that makes sense because it's not something you would want to use. It has nothing to do with SETI@home, which is a strange comparison because there are literally dozens of other network rendering options out there that are more easily compared. Most charge a fee per GPU per minute. Render is competitively priced for octane rendering. Comparatively it's a little more cost effective on Render for Octane-based rendering.
As for copyright law, that's a different story. Do you remember when the music industry started shipping CDs with DRM? Much of it didn't work and was mostly scrapped for the music industry nearly 10 years ago. Smart contracts may not have worked their way into copyright law, aside from the simple fact that buying a music NFT doesn't give the buyer complete rights to the music, but also DRM wasn't part of copyright law either initially.
So overall we're talking about hundreds of protocols that still are maturing, and you're really only ever going to hear about the ones the industry is using, if you're actually presented with the opportunity to use them. For you, it is a solution looking for a problem because in whatever industry you're in, you look at it like, you can do your work outside of any blockchain technology.
But that's not how everyone feels. Many companies from finance to shipping have invested heavily in blockchain. Not because they can sell it to the public, I mean even DHL created a blockchain for pharmaceutical shipping, they aren't trying to sell tokens for it. You may see it as proof of concept, but companies are spending millions on the tech to use it within their businesses, and it's not something you're going to hear about unless it directly effects you or your business.
@maskedweasel may I summarise your posting as: "Let's wait and see what the future will bring"?
I think it's fine if that's how you want to summarize it. I think a better summary might be "You'll see it when it's relevant to you" but I'm good either way.
@maskedweasel may I summarise your posting as: "Let's wait and see what the future will bring"?
I think it's fine if that's how you want to summarize it. I think a better summary might be "You'll see it when it's relevant to you" but I'm good either way.
Hmm, same might be said about "KPOP," but doubtful it will ever be relevant to me, same with NFTSs and Crypto gaming.
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
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Comments
Render Network and RNDR Token:
It's an automatic network rendering farm on blockchain. It puts to use idle GPUs to render cinema4d scenes. It's in use now, and it pays for that use through RNDR tokens.
Network rendering is nothing new, but now there's a novel way to leverage blockchain in a much larger farm, where miners can choose to use their CUDA enabled GPU. This greatly reduces the time to render scenes.
XAYA Platform:
Uses blockchain in many different ways to create games and experiences. It's not a game, and it's not a monetization scheme. The platform provides an opensource license and the games built can leverage a lot of blockchain based benefits, such as serverless design, scalability and upgraded security. There are some nuances to the use of this platform, but there are several games in development and some are currently playable in early access.
Mediachain :
Mediachain is a secure platform for musicians who have lost substantial funds from their music. As a smart contract platform musicians can provide and authorize their work and get paid for its use and more. Licensing via smart contract is one of the better uses of smart contracts.
Ligero protocol:
A security protocol created to leverage blockchain for private smart contracts and secure data transfers through blockchain cryptography and zero knowledge proofs. Not everything has to be public facing to be an important use of the tech.
These are just some of the many blockchain companies and protocols with real world use. This is being used today. Many uses may or may not require tokens to utilize the service or to opt in to be part of the network, but the monetization of the tokens are not the usage of the applications as a whole.
Again, do you NEED blockchain to do any of this?
Do you need concrete to make a road, or bricks to make a house, or cotton to make clothing? I don't need alexa to turn my lights on and off either. I think it's a silly argument to say you can do everything without blockchain.
You can create blockchain applications without blockchain too, and people have every right to do that, but there's a reason why they don't, and it has nothing to do with earning money.
NFTs and Crypto, good riddance! lol
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For example, there are significant unresolved issues regarding the applicability of smart contracts in copyright licensing. Among other things, there is no consensus in legal systems on how code as a contract fits into traditional concepts of contract law. In general, it is unclear how disputes between pseudonymous parties, typical of blockchain-based smart contracts, should be resolved.
First it hasn't been 10+ years of these apps. It's been 13 years of bitcoin, but the majority of dapps are built on ethereum and many on alternative protocols. Bitcoin doesn't even have native smartcontracts, everything would need to be built through script. That's part of why you don't see many NFT's on bitcoin, and they often choose to use alternative networks to build them off mainnet.
Then you have transactional limitation to bitcoin, the environmental impact, both huge hurdles that you don't have with other protocols.
Ethereum has been out for about 7 years, with dapps in creation for the past 6 or so years, with the same environmental imact problem and built on proof of work that has already been considered a costly and outdated validation process. Solana has only been around for about 5 years, algorand for about 4, and so on and so forth.
With each protocol they get more efficient, secure, provide more features, allow for more transactions per second, and have a far less environmental impact (some are even carbon neutral or carbon negative)
I provided 4 uses of blockchain protocols that are outside monetization, but there are hundreds of others out there. You look at the render network and see pages and videos of investment, but that makes sense because it's not something you would want to use. It has nothing to do with SETI@home, which is a strange comparison because there are literally dozens of other network rendering options out there that are more easily compared. Most charge a fee per GPU per minute. Render is competitively priced for octane rendering. Comparatively it's a little more cost effective on Render for Octane-based rendering.
As for copyright law, that's a different story. Do you remember when the music industry started shipping CDs with DRM? Much of it didn't work and was mostly scrapped for the music industry nearly 10 years ago. Smart contracts may not have worked their way into copyright law, aside from the simple fact that buying a music NFT doesn't give the buyer complete rights to the music, but also DRM wasn't part of copyright law either initially.
So overall we're talking about hundreds of protocols that still are maturing, and you're really only ever going to hear about the ones the industry is using, if you're actually presented with the opportunity to use them. For you, it is a solution looking for a problem because in whatever industry you're in, you look at it like, you can do your work outside of any blockchain technology.
But that's not how everyone feels. Many companies from finance to shipping have invested heavily in blockchain. Not because they can sell it to the public, I mean even DHL created a blockchain for pharmaceutical shipping, they aren't trying to sell tokens for it. You may see it as proof of concept, but companies are spending millions on the tech to use it within their businesses, and it's not something you're going to hear about unless it directly effects you or your business.
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Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon