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RE: Governance & Use Cases - Let's Talk About It

in LeoFinance3 years ago

Great video as always. I have a few questions. Will ask them in separate comments because it's a bit heavy and you might not want to answer everything at once.

You say that web3 must be built on few supernodes because it allows scalability, I fully agree. But with 3speak you guys are building a peer to peer decentralized storage network, like bittorent, which is far more decentralized and less efficient.

Won't that make it very expensive/slow to store data? If not, then why not use that for web3 including text and be even more decentralized than a few supernodes.

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Supernodes are for blockchains. However, PoA will have a p2p ranking system where the top performers get first dibs on downloads. PoA is great for incentivizing the storage of data. However, data is just one piece of this whole thing. Having a smaller set of supernodes (20 nodes arguably isn't a small amount) means you can process transactions fast. Having deterministic consensus means we can have speed and performance you can't achieve any other way. PoA isn't deterministic, and miners are free to come and go as they choose. So no matter what, for transactions, blockchain out beats anything.

Why not store text in PoA? We can, no reason not to. However, blockchains are perfect for the text. Text does not take up a ton of space, thus can benefit from being on-chain. Videos/Images bloat the nodes too high, and asking for anyone to store giant nodes will lead to centralization. PoA gives miners choices, and with "rare blocks" IE, blocks no on downloads, those who have those get rewarded more because they do not have to split rewards with other miners. This means that the network, once it gets huge, will likely be chopped up, and if no one had to whole network, it would balance out as many smaller miners can hunt rare blocks leading to the entire network being backed up by many not few. It's late so this answer maynot be a precise as I'd like, if it didn't make sense lmk.

So if I understand correctly, the chain is dPoS and the storage is a separate process.

In that case, could something like sia coin or filecoin be used for storage of files instead of building our own storage system?

Blockchain = Incentive Layer + Text immutablility.
Anything else should go on IPFS, imo. Having your own blockchain, like a Sia, Arweave (blockweave there), FIlecoin, etc., I've seen them all, I'm pretty sure. The issue is they create their own standard, like an island. LBRY did the same thing, try to reinvent a new standard and force people on it. We believe if you use blockchain to pay storage people and keep the storage separate from the chain, you have the best of both worlds. IPFS is widely used and will continue to dominate the "decentralized land" of web3. Think of IPFS as a giant, unkept plot of land. Land that is not cultivated doesn't really do much for anyone. IE having IPFS storage but no incentive layer means no one is going to store your files for free. However, bring some water, IE incentives and pay people to store files, then you have a landscape that can grow. Prob should get to bed soon. My analogies are starting to blend into reality.

This makes so much sense. Sorry for keeping you up xd