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NFT-ify videos? A detailed explanation of the "WEB3 Tik Tok" Contentos chat and airdrop tutorial
Decentralization is messy. People are imperfect. Pushing power from the center to the edges introduces more randomness into the system.
As described by E. Glen Weyl, Puja Ohlhaver, Vitalik Buterin in (Decentralized Society: Finding Web3’s Soul):
“In less than a decade, Web3 has astounded the world by creating a unique and flexible parallel financial system unlike anything ever created. Foundational elements in cryptography and economics, such as public key cryptography, smart contracts, proof of work, and proof of stake, have enabled a complex and open ecosystem for financial transactions. However, the economic value of financial transactions is generated by humans and their relationships. Because Web3 lacks foundational elements to represent this social identity, it is fundamentally dependent on the centralized Web2 structure it seeks to transcend, and therefore replicates its limitations.
As described by E. Glen Weyl, Puja Ohlhaver, Vitalik Buterin in (Decentralized Society: Finding Web3’s Soul):
“In less than a decade, Web3 has astounded the world by creating a unique and flexible parallel financial system unlike anything ever created. Foundational elements in cryptography and economics, such as public key cryptography, smart contracts, proof of work, and proof of stake, have enabled a complex and open ecosystem for financial transactions. However, the economic value of financial transactions is generated by humans and their relationships. Because Web3 lacks foundational elements to represent this social identity, it is fundamentally dependent on the centralized Web2 structure it seeks to transcend, and therefore replicates its limitations.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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