Subnostr

I don’t understand why Filecoin needs its own block chain and mining rewards mechanism.

Yes, I know it’s a shitcoin and the reason is likely some shenanigans. It seems a similar model can be built on Bitcoin and lightning. Indeed, if one were to do so, eventually the service providers on Filecoin would migrate or lose to SPs on Bitcoin if not for the reason the treasury is more stable, easier to hedge, easier to hold, etc etc.

Can anyone steelman Filecoins argument for specialized blockchain?

#asknostr

#tech

mattybs 2y ago

This is true for a lot of blockchain services. You could probably accomplish the same thing on side chains or L2s on top of Bitcoin. I feel that eventually the best use cases will eventually fall to Bitcoin - but not everything needs to tax the Bitcoin blockchain either.

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Discussion

zhenya 2y ago

Thanks for your response. I agree that not everything needs to be on a blockchain. Crypto seems to solve problems that on it creates.

mattybs 2y ago

Yeah I see there being a lot of purpose-built blockchains in the future. But most financial assets and instruments that would benefit from greatest decentralization are probably going to end up on Bitcoin. Though a lot of it is already working on Ethereum too.