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Topic
Board Project Development
Re: Project Idea - Decentralized Twatter
by
goosethegoat
on 16/12/2021, 15:11:44 UTC
Thanks for the feedback.


you won't need a centralized website to see the messages, the full node can do this very easily by parsing the transactions and showing the message inside them to the user
I know this can easily be done but the centralized website would be for normies to use with clean UX/UI. There could be hundreds of versions that fit each individuals wants. Think of a personalized twitter feed.


However, the problem is that you won't be able to keep the blockchain alive in secure and decentralized way. Simply because it lacks incentive.

If you add the "token" on top of it to create an incentive then the project stops being a message platform and becomes a payment platform where you can't post a message for free like you do on centralized alternatives like Twitter. It also adds the problem of "price", if it dumps nobody would mine that chain and the PoW algorithm becomes vulnerable to 51% attacks.
Why do you think the tokens (if structured the right way) couldn't drive incentive?  Each token is worth one message. This would have to be well thought out but it would eventually become a "pay-to-tweet" service which is fair because there has to be a small cost for the service. Just as there is a small cost to use any blockchain technology.


It also adds the problem of "price", if it dumps nobody would mine that chain and the PoW algorithm becomes vulnerable to 51% attacks.
Isn't this a risk of any PoW chain?