I really don't get the hype around web3. (I was around for the advent of the web and and "web 2.0" and was excited about both) If you're a web3 believer, what's compelling about it for you?
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i think you bring up an interesting point about databases. yes, blockchain is essentially a database but with cryptographic super powers. but it’s more than just a database - several layers to this:
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a.) in the context of establishing a digital identity, there is an identity component to blockchain that’s satisfied through the use of cryptographic keys (a combo of private and public) and these keys create a strong digital identity grounded in just possessing the keys
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(kinda like having a digital id in an Authenticator app) b.) innovative record-keeping capabilities that are good for recording static data (ex: registry of student IDs) or dynamic data (transactions); a combo of unencrypted, encrypted and hashed data that makes this possible
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c.) proven immutability is appealing since there are features that maintain its history. in order to change an entry in the database, you’re required to change the whole data which comes after every node in the the chain - making it more of a system of record than a database.
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(cont) the data can’t be corrupted or accidentally deleted and u benefit both from a historical trail of data and an instantly up-to-date record. i think the digital id component in the context of the ethiopia use case is quite interesting since it removes the need forpic.twitter.com/vcqndNinhv
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