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/biz/ - Business & Finance

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53770460 No.53770460 [Reply] [Original]

As a senior software engineer ICP gives off some red flags for me and here's why:
ICP at its very core uses something called Web Assembly (WASM).

WASM was born in Web 2.0 way before ICP was born and it was made in theory to boost web performance by providing a portable code format to run in browsers at native speeds. Sounds good in theory right? Well WASM never gained traction and it heavily flopped, no one is using it today because JavaScript is just that much more convenient and faster to prototype with as well.

The creators of ICP thought: What if we try to revive WASM but with a blockchain meme sauce layer on top by bringing it over to Web 3.0 and present it as some sort of revolutionary paradigm? Well it worked for them seeing how it lured brainlets from /biz/ and half of India into investing into it so kudos to them for pulling this off.

So why did WASM flop? That's because JavaScript is easy to write, and Web Assembly isn’t even intended to be written by humans, plus its most efficient code is generated by C or C++ source code, which isn’t for everyone either.
The only thing WASM has going for it is being able to do heavy-duty tasks on the web, but we have things like GLSL for that.

There is this truism that technology never dies.
Most big bank, airline, credit, and other very large systems still run on COBOL or other mainframe-era technologies.
In my line of work I still encounter VB6, PowerBuilder, and other 1990’s-era technologies powering mission-critical systems.

Knowing this fact, I think it's highly unlikely that the usage of the ICP blockchain will be adopted into the mainstream seeing how even Web 2.0 failed to adopt it.

The theory behind ICP was neat, but they forgot to take into account the actual reality/practice.
ICP was dead on arrival because it bets on the wrong horse as evident by its chart.
You need a blockchain project that can convince current traditional companies to switch over and this is just not it

>> No.53770517

>>53770460
Holy fuck, is this real? This might be it for ICP. I just sold everything. Fuck.... It's over.

>> No.53770539

You had plenty of opportunities to buy the bottom bro. Sorry.

>> No.53770551
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53770551

>>53770460
The 2k price target is going to require a lot of monetary energy to hit that target. where is all that energy going to come from? it can come from a few places:
new retail.
new institution.
new adoption.
or cannibalizing the monetary energy of other crypto protocols.

ICP will get a little new retail and a little new institution funding. where ICP will get the majority of it's monetary energy will be taking the energy out of the majority of L2's on ETH. every dapp that is released on the IC makes another l2 on ETH obsolete. (<- after ETH integration) ICP makes sidechains obsolete. it makes all Dex's and swaps obsolete because you can run the same Dex's and swap front ends on the IC and not worry about half the coins being delisted (think uniswap, infact start using the uniswap front end hosted on the IC)

>> No.53770800
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53770800

Stay poor nigger

>> No.53770810

rare high IQ post on /biz/. Thanks anon, have a bump

>> No.53770884

actual dev here
you dont need to fucking using wasm to build apps on the ic LOL

motoko just replaces mongodb/cloud in the stack
you can still use react/node/motoko as your full stack

>> No.53770906

"Senior software developer" my ass. Before posting shit post, a simple google search will give you this:
Which blockchain networks use WebAssembly?
Cosmos, Solana, Fantom, NEAR Protocol, Elrond, and Polkadot use Rust as a programming language.

The difference is ICP is working with one of the co-creators of WASM (Rossberg) which gives them an advantage in developing new innovations.Just because you don't understand doesn't mean it's not good.

Now go back to PHP and write your shitty code.

>> No.53771395

>>53770460
CBDC

>> No.53771484

>>53770460
THE BLOCKCHAIN SINGULARITY IS HERE!!!!

HEWIL DOM ! HEIL VICTORY!

>> No.53771495

broooooos what the fuuuuuuck my piss is taking form and spiraling around me, tell me this is real

>> No.53771523

Wasm is what the code is compiled into. You can use javascript with a wasm compiler, or rust or C++ or whatever, as long as the tooling is there.

>> No.53771971
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53771971

>and here's why:

Fuck off kike.

>> No.53771989

>>53770460
You have no idea how price gets booked. Stay poor.

>> No.53771992
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53771992

>>53770460
OP is correct ICP isn't anything new
Sell now

>> No.53772072
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53772072

>>53770460
ICP token stands out for its innovative approach to blockchain technology, utilizing the Internet Computer's unique architecture to enable unlimited scalability, interoperability, and efficiency for decentralized applications.

>> No.53772104

>>53770460
the only real fud that matters for ICP is that it has an exceptionally stupid name that will never appeal to normies

>> No.53772105
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53772105

>>53770460

>> No.53772133
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53772133

>>53770460
>3 cents incomming
You streetshitters will never ever make it and that's a good thing

>> No.53772227

What problem does ICP solve?

>> No.53772254
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53772254

>>53772227
cryptocurrency

>> No.53772255

>>53770460
The biggest red flag is how the team just handwave any sort of criticism when they acknowledge it at all. They don't know anything about crypto, they're just building their own private network and calling it a blockchain.
Dom threatened to sue an early backer for voicing concerns

>> No.53772261

>>53772255
wrong :^)

>> No.53772360

>>53772261
You just demonstrated his point or is that the joke?