The first article on Web3 that I've read that drills into the details and was written by someone who's not only kicked the tires but taken the thing for a spin. And the conclusion: It's mostly the bad stuff of Web2 combined with the bad stuff of Crypto.
A deep dive into this stuff is certainly useful. The question is, of the people who were offended by shallowness of people saying "this is obviously garbage though I can't be bothered to investigate it", how many will say "ah, so here's a thorough, technical and soft-spoken explanation why this is all garbage, thanks".
Exactly,and it's also intentionally misnamed as web3 as if it's an inevitable extension of current internet practices, rather than a scifi buzzword fantasy of a small pocket of investors (or small to moderate hedge of larger investors).
This article helped me understand why OpenSea was able to raise money at a $13 billion valuation. They're even more centralized than I had assumed. VCs look at that and see an impressive moat.
I think you are over-simplifying the conclusions of the article. The article presents a much more nuanced view, and while it points to certain limitations and deficiencies of Web 3.0 (and that only on the Eth part of it; we are in a multi-blockchain world now), it also points to several strengths of the growing ecosystems, and mostly comes across as humble; not knowing how its all going to turn out.
I keep reading that there are a ton better blockchains than eth, but then it seems that all dapps continue to use just eth, even at the cost of insane gas fees. Why is that?
To be fair Moxie says it's only "early days" in the sense that the technology has failed to advance, since of course a significant quantity of time has passed since inception.
In some ways, cryptocurrency’s failure to scale beyond relatively nascent engineering is what makes it possible to consider the days “early,” *since objectively it has already been a decade or more*.
I'm just addressing the misconception re: Moxie's apparent position.
My personal opinion is that the internet solved problems from day 1 and its growth was largely constrained by the deployment of physical infrastructure. Blockchain is not similarly constrained - it just doesn't really, you know, do anything for anyone. The proof will be in the pudding.
