Originally Posted by
Steely Glint
People having been searching for something blockchain might be good at for the better part of a decade now and so far, nothing. I don't rule out that it may have a use, but I think the best approach is to forget about it and if someone comes up with something good in the future, then great, we'll look at it then. No point wasting potentially thousands of developer hours trying to square-peg/round hole this thing.
The thing is that it has the issues it does because it is trustless, the inefficient consensus protocol, being append-only, these are all issues introduced by attempts to solve the problem of being trustless, but it's not clear that being trustless has any practical value beyond being intellectually appealing to thinkers of a certain disposition. Or even if it is actually trustless or decentralised in anything but the strict technical sense.
I mean, unless it collapses under it's own stupidity or is regulated out of existence it will probably do something approaching this. It's what it's designed to. Terrible idea for a currency, but good for making early adopters rich - provided they can find a way to cash out.