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Demystifying Blockchain, Web3, and Crypto

Daisy Auma on February 05, 2024

In the rapidly evolving landscape of digital technology, terms like blockchain, Web3, and crypto have become buzzwords, often used interchangeably ...
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Dan

I've been working in web3 relatively recently (mainly ethereum ecosystem) and I think coding economic incentives to encourage expected behavior across a network of strangers is really neat.

I love it ideologically but honestly struggling to find that web3 is strictly better than web2 for many things. There are a few examples (cross border transactions, alternatives in unstable economies) but largely many projects feel really cool but not necessarily more valuable.

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Ben Sinclair

Fundamentally, the decentralised movement is powered by blockchain

I disagree. We've had decentralised stuff for decades and it's not been anything to do with blockchain. Blockchain is a specific way of doing things, which swaps centralisation cost for distributed environmental cost.

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Alex

Blockchain has nothing to do with decentralization or network of nodes. It is a specific way of organizing information. Blockchain can work in a centralized environment just fine, while, on the other hand, the benefits of decentralization and data replication can be applied (and are applied) to traditional systems that use relational databases, for example. Also, blockchain on its own does not assume security. There is a huge amount of work done in blockchain-based systems aside from shoving everything in a chain of linked blocks.

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Daisy Auma

Thanks for the info!

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Alex

I'll be happy to answer all of your questions and even proofread your next post about blockchain for free, just PLEASE don't misinform people with false information.

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Alex Roor

3 years ago I had no idea what a cool thing crypto and blockchain generally were!
Now it's part of my everyday life.
I started using WhiteBIT and am very happy about it because the first trades on demo tokens are super!
what do you use?

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Daisy Auma

I have only used Binance

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