How bad a fraud is "web3"?
Ethereum is 1/5000 of a Raspberry Pi 4 but costs roughly $250 a second to use as a "World computer". And also costs that to store just 3kB of data.

#blockchain
#climatecrisis
#crypto
#fad
#fraud
#web3

twitter.com/ncweaver/status/14

usenix.org/publications/logino

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@michel_slm My understanding is that this is true of the Ethereum main net but operation costs are configurable so in theory you could run a network that charges nothing for operations. This would put the cost (electricity, compute time) on the nodes running the computations, so they would only want to run on a smaller network of users they trust (sort of a computing co-op).

But I don't see any way for it to work in a trustless/global environment. And there are probably more efficient ways to accomplish similar distributed computing when you trust your peers.

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tilde.zone

masto instance for the tildeverse