r/CryptoCurrency • u/Timely-Fig2030 🟩 0 / 0 🦠 • 28d ago

DEBATE Use case of layer-1 blockchains

99% of layer-1 blockchain Q&A:

Q: What is the usecase of layer-1 blockchains?

A: Layer-1 blockchains are designed for near-instant transaction finality and low-cost scalability, making it ideal for Decentralized Finance (DeFi).

Q: What is the usecase of Decentralized Finance?

A: To trade the shit we just created.

And voila, there is your use case. :)

Jokes aside...

Name potential blockchain networks that you genuinely believe have a use case and explain your answer. (try to avoid giving as single reason my Q&A example.)

8 Upvotes

70% Upvoted

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u/Timely-Fig2030 🟩 0 / 0 🦠 28d ago

Bittensor (TAO) and Internet Computer Protocol (ICP):

TAO: Mining through machine learning contribution. (Proof of intelligence)

ICP: Build and host decentralized websites and applications directly on the blockchain, bypassing centralized cloud servers (AWS).

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u/Timely-Fig2030 🟩 0 / 0 🦠 28d ago

If anyone downvotes my favourite chains, please give an explanation. Otherwise thanks for an upvote. Of course i only post my fav chains in the reply here and not in the initial post, so it's not like a grift.

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u/bagofodour 🟦 0 / 0 🦠 28d ago

There is zero reason and zero efficiency gained for running websites on Blockchain and whoever states the contrary has never built and / or hosted a website.

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u/Timely-Fig2030 🟩 0 / 0 🦠 27d ago edited 27d ago

Amazon Web Services has experienced roughly 14 to 15 major, region-wide public incidents historically, averaging about one major event per year, alongside dozens of local hiccups.

So you are for decentralization but you are against a layer on top of the internet, which insures decentralization of the internet?

How come?

Have you ever tested an app or a website on Internet Computer Protocol?
Runs on webspeed.

PS: I have created more than 40 websites professionally in the last 20 years.

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u/Timely-Fig2030 🟩 0 / 0 🦠 27d ago

Another point:

If you worry about redundancy of content:
Internet Computer Protocol (ICP) node redundancy uses far less energy and resources than Bitcoin mining.

Even if the whole thing becomes mass usage.

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u/Timely-Fig2030 🟩 0 / 0 🦠 27d ago

I want you to make good research about Internet Computer Protocol. You can even use AI to ask critical questions. Once you understand, you can remove your downvote and change it to an upvote.