Web3 is a pyramid of dumpster fires
summary
Quick, concrete summary: explains blockchains as slow, expensive databases (bitcoin ~7 TPS, ethereum ~15 TPS, ~5 minute confirmations, typical gas $1–$20) and contrasts proof of work with proof of stake cut 0.02% energy claim; shows a live Tamagotchi on the blockchain demo that charges 0.01 tokens per interaction and uses a proxy upgrade pattern; inspects NFTs sold for $29M whose image URLs live on regular web servers (1 KB costs ~200,000 kroner to store on-chain), warns about solidity v0.8.16 quirks (mappings without key enumeration) and oracle/IPFS reliability.
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chapters (18)
- 0:00Introduction
- 1:05Defining Web3 and promises
- 3:36How blockchains work
- 6:27Proof of Work explained
- 12:56Energy costs and alternatives
- 15:05What smart contracts are
- 19:24Smart contract constraints
- 22:55Oracle problem in contracts
- 25:41User interaction with contracts
- 29:11NFTs and their hidden technical flaws
- 34:49NFT storage systems
- 35:09Smart contract languages
- 36:54Solidity’s flaws
- 39:05Tamagotchi demo
- 43:04Immutability myths
- 45:53Trust and human factors
- 46:14Hype versus reality
- 47:19Q&A
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