i'm sceptical of this view as the computational power required for a blockchain-run internet would be significantly more than what is used right now. could we really power the blockchain on such a massive scale?
Post by twetch#140
Why do you think a miner uses more electricity for hosting, CDN or any other function the users of the internet (Bitcoin) requires?
Don’t look at hash rate, this will be the least important factor in ten years as the protocol is economically protected.
What the chain says
- Block
- 631 181
- Time
- 2020-04-18T19:30:47Z
- Signer
- 13MckuFoT6zopfawknos5oP292KVXPKo3D
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#140
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
13MckuFoT6zopfawknos5oP292KVXPKo3D VerifiedReplies (5)
because a network of P2P miners + nodes is, unfortunately, not an efficient use of electricity when compared to a centralised server farm. it's the price we pay for decentralisation. hashing miners is more costly than a CDN serving data.
You think there will be more efficiency with Bitcoin replacing functions the existing internet can’t provide unless there is human intermediaries to verify data?
That assumption alone should dwarf the electricity cost POW increase.
could you give an example of functions of the internet which require "human intermediaries" for verification? i'm not sure what you mean. and why would these functions not need this in a blockchain-internet?
Simple;
Lawyers can add templates for sale onchain, when signed by two parties onchain it is automatically signed by lawyer as legal (script on protocol) and state (signed physically once as legal lawyer).
Same applies to anything you can think of.