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Here what many journos miss about this story:
What we are witnessing here is a shift away from traditional client-server architectures, at which FB+Google+MSFT+etc excel, towards a peer-to-peer service architecture where the corporations give up control to create open platforms.
What we are witnessing here is a shift away from traditional client-server architectures, at which FB+Google+MSFT+etc excel, towards a peer-to-peer service architecture where the corporations give up control to create open platforms.
This was a long time in the making. Client-server implies full trust. We are the subservient users, corporations have full control. There are no checks or balances, whether they uphold their own (incredibly permissive) EULA is mostly a matter of blind faith.
Crypto upends that, makes the service provider transparent, auditable, and accountable. This is one of the the biggest game changers. It impacts not just computing but business models. It's an extinction level event for many incumbents.
Cryptocurrency is just the first application. And in its current form, it's not only tiny, but also faces a big scalability chasm it needs to cross before it can operate at Facebook scale and provide a smooth user experience.
We are working on bridging that chasm with a revolutionary new protocol, and innovations up and down the stack, at @avalabsofficial. I'm very excited about the future we will all be building together, based on an inclusive, open architecture.
So the question of whether Bitcoin failed or not is besides the point. BTC will do BTC things. It probably won't go away. Other systems will sidestep the tempests in the teacup, like the "blocksize debate," to transform the way people build services.
