/biz/ - Business & Finance

>>53531699

1. That's true but not for long. the biggest complaint is that a smart contract (canister) is capped at 4gb (technically 8gb) "only". soon, 300 gb canisters will be possible, meaning you will be able to create a single smart contract with the size of a third of the entire eth network that has the promised 1-2 second finality. and if you ever need to build something even bigger, asynchronous networks are certainly possible, more difficult yes but possible nonetheless. no other chain can even do the current 4gb smart contracts that everyone is complaining about.
2. see 1
3. yeah people need to manage their expectations. I'm confident that smart contracts for the highest liquidity crypto there is will have at least some appeal though, specially among whales and maxis who might want to engage in smart contracts while still keeping the keys to their coins. Dfinity is also making wrapped btc (ckbtc) for those who want the wrapped btc experience. both are possible.
4. comparisons with aws show that icp could be cheaper actually. Also keep in mind that 85% (about $2.5 trillion) of the annual web2 IT spend is goes to firewalls, backups, cybersecurity resources, etc which icp doesn't need.
The cycles cost doesn't appreciate if icp's price, god forbid, goes up, because cycles are pegged to SDR (basically a basket of fiat). 1 trillion cycles will always cost 1 SDR (about $1.2) worth of icp regardless of price.
5. guess we'll see what happens after dfinity curbs those limitations as discussed above :)
6. ICP is a general purpose computing protocol. whatever you can think of, you can build. if that's not a true world computer, then I don't know what is.
7. icp isn't that old. patience.