One thing funny about cryptocurrency is that it's built for highly technical group of audience. But in my peers, a majority of people who get benefit from it are non-tech user.
Think of wallet concept. The wallet literally hold nothing. The fund isn't a file or something that the wallet keep. The wallet is simply server as an interface. The transaction can generate off chain. You can signed the transactionor any message to prove who you are. Read is essentially free but write contract cost gas. How can we explain these to a normal user? Why Solana is so fast and Ethereum is slow?
Now, the highly technical user understand those concept and feel something shady about a certain thing. Then they don't buy it. Meanwhile, othergroup get rich so quick and it makes the world feel like crypto is a ripoff.
Add in the controversal stuff such as Sushi fork Uni, then founder run off with $14m(and later return)...
all of that made crypto looks really bad.
But now let's see what blockchaing give us from a technical perspective. It's a distributed database where you can store data into it, like git, and can prove and trust it's what you write into it.
Example, DNS. DNS is very decentralize but what if your DNS server decided to return something different from the name server. What if we store DNS into blockchain? Write to it cost money but read is essentially free as long as you have a node.
But due to the highly cost of mining, and the craziness of its price, develop on blockchain is costly and it push people away because the people who want to build something on it doesn't have the fun. I, for one, want to do the above DNS idea with Ethereum but choose to go with Solana because Ethereum cost is just so damn high...
Think of wallet concept. The wallet literally hold nothing. The fund isn't a file or something that the wallet keep. The wallet is simply server as an interface. The transaction can generate off chain. You can signed the transactionor any message to prove who you are. Read is essentially free but write contract cost gas. How can we explain these to a normal user? Why Solana is so fast and Ethereum is slow?
Now, the highly technical user understand those concept and feel something shady about a certain thing. Then they don't buy it. Meanwhile, othergroup get rich so quick and it makes the world feel like crypto is a ripoff.
Add in the controversal stuff such as Sushi fork Uni, then founder run off with $14m(and later return)...
all of that made crypto looks really bad.
But now let's see what blockchaing give us from a technical perspective. It's a distributed database where you can store data into it, like git, and can prove and trust it's what you write into it.
Example, DNS. DNS is very decentralize but what if your DNS server decided to return something different from the name server. What if we store DNS into blockchain? Write to it cost money but read is essentially free as long as you have a node.
But due to the highly cost of mining, and the craziness of its price, develop on blockchain is costly and it push people away because the people who want to build something on it doesn't have the fun. I, for one, want to do the above DNS idea with Ethereum but choose to go with Solana because Ethereum cost is just so damn high...