My question is essentially the title – Does Amazon web outage prove the need and essential utility of projects like Dfinity’s Internet Computer or iExec RLC?
If you Google for websites about ICP you will find information vouching for ICP like “The Internet as we know it today is made up of proprietary ecosystems, which are in the hands of large corporations. These include hosting services, servers, security and websites like eBay and Amazon which control all the data currently on their networks. The Internet Computer wants to disrupt that. Using the Internet Computer, developers could create websites, enterprise IT systems and internet services by installing their code directly on the public internet without the need for separate agreements with servers and commercial cloud services like AWS or Microsoft’s Cloud.”
Similarly, if you search iExec, you will find things like “iExec is a platform for decentralized cloud computing, so think IBM or Microsoft cloud services but broken up into multiple nodes for off-chain computing of blockchain applications. It’s a similar concept to Golem (supercomputing) and Siacoin (cloud storage), except it’s using cloud services for processing power. Its target audience is the blockchain realm itself and its budding ecosystem of DApps.”
Both of these projects seem to speak directly to the issue with centralized web service providers like Amazon web services. Am I misunderstanding this relationship? ICP got a lot of hate because of its price drop on listing due to earlier investors taking profits, but both projects seem to target this issue. ICP has a massive fund to encourage development and is backed by big investors like Andreessen Horowitz (a16z) and Polychain Capital. Set the hate aside over ICPs initial price drop, doesn’t this Amazon web failure prove its utility and potential value?
Internet Computer Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
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ICP’s argument = “why trust known centralized companies like Apple, Google, Amazon, Facebook, Samsung, Microsoft etc with some of your private information….when you can trust our unknown centralized company with ALL of your private information
Also, Amazon going down just shows us that 30+ years later, the internet still has scaling issues.
Hell yeah! Wait, what?
Internet computer is a scam lol
Why? Set aside the initial price dump on listing, what makes it a scam. The Dfinity Foundation launched a fund of around $223 million to support development on its chain. Why would anyone invest that much money in a junk project.
It’s funny that you chose a centralized platform to replace another centralized platform, all in an effort to eliminate the reliance on centralized platforms.
“The Internet Computer relies on a decentralized Web 3.0 cloud-like protocol dubbed the Internet Computer Protocol, or ICP, that utilizes a combination of data centers and high-end node machines, or validators, across the globe — to create a network of computers to host this new version of the public internet. Dfinity proposes decentralization by introducing a consensus model dubbed the Threshold Relay, which is accompanied by its Network Nervous System, or NNS — algorithmic software that governs the Internet Computer, economics, and structure.”
I don’t understand all the articles on it refer to it as decentralized. I understand that the degree decentralization varies among different crypto projects, but it seems it’s not as centralized as a single company like Amazon.
Obligatory ICP has a terrible name
You need to look into HOLOCHAIN $HOT.
ICP itself is centralized, so definitely not that. I’d look into RLC if it’s truly decentralized.
The lack of comments tends to highlight this forums blind hatred for ICP. Lots of bag holders I guess.
No, not at all. Chain stoppages can and do happen in crypto all the time. The only difference is if Amazon AWS breaks their SLA the offended company gets damages paid. A decentralized solution would have no insurance like this.
On top of that, it’s just impossible to have the optimization that Amazon and these centralized data centers have. They are globally positioned, can control what hardware is used, control data locality, and are constantly innovating new ways to speed up and provide clients better service.
As someone who’s very interested academically in distributed systems/cloud computing, decentralized storage/computation is the most bearish looking part of the market for me going forward. It’s not going to win business contracts since it simply can’t beat the performance. Private individuals can use it, but I’d rather just use Dropbox/google drive that’s completely free to use
Edit: forgot to mention data security as well. Despite having some of the best encryption on the planet, these big providers spend a lot on physical data security and take it very seriously. Just handing out data to anyone on the network, no matter how encrypted/sharded, is a liability waiting to happen IMO. You can’t even begin to hack/decrypt data you have no access to
Thank you for the substantive response. The Dfinity Foundation has launched a fund of around $223 million to support development on its chain….so I’m confused why investors would put that much money on the table for a project that so many people’s knee jerk reaction is “it’s a scam”. Those seed investors in ICP aren’t fools, these are major investment firms puffing hundreds of millions where their mouth is….I feel like the cryptocurrency Reddit community is overlooking something but I’m not tech savvy enough to know what it is. Can you identify any pros to the idea of decentralized web service? I know one is supposedly that Amazon can’t arbitrarily remove your site, for instance, if it’s on a decentralized server like ICP.
RNDR is another amazing distributed cloud service program for GPU cloud services
Now whether this changes in the future or not as it stands they are currently gate keeping and decide who can and cannot run a node on the network.
You are basically trading one centralized solution for another.
Internet Computer Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
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ICP’s argument = “why trust known centralized companies like Apple, Google, Amazon, Facebook, Samsung, Microsoft etc with some of your private information….when you can trust our unknown centralized company with ALL of your private information
Also, Amazon going down just shows us that 30+ years later, the internet still has scaling issues.
Hell yeah! Wait, what?
Internet computer is a scam lol
Why? Set aside the initial price dump on listing, what makes it a scam. The Dfinity Foundation launched a fund of around $223 million to support development on its chain. Why would anyone invest that much money in a junk project.
It’s funny that you chose a centralized platform to replace another centralized platform, all in an effort to eliminate the reliance on centralized platforms.
“The Internet Computer relies on a decentralized Web 3.0 cloud-like protocol dubbed the Internet Computer Protocol, or ICP, that utilizes a combination of data centers and high-end node machines, or validators, across the globe — to create a network of computers to host this new version of the public internet. Dfinity proposes decentralization by introducing a consensus model dubbed the Threshold Relay, which is accompanied by its Network Nervous System, or NNS — algorithmic software that governs the Internet Computer, economics, and structure.”
I don’t understand all the articles on it refer to it as decentralized. I understand that the degree decentralization varies among different crypto projects, but it seems it’s not as centralized as a single company like Amazon.
Obligatory ICP has a terrible name
You need to look into HOLOCHAIN $HOT.
ICP itself is centralized, so definitely not that. I’d look into RLC if it’s truly decentralized.
The lack of comments tends to highlight this forums blind hatred for ICP. Lots of bag holders I guess.
No, not at all. Chain stoppages can and do happen in crypto all the time. The only difference is if Amazon AWS breaks their SLA the offended company gets damages paid. A decentralized solution would have no insurance like this.
On top of that, it’s just impossible to have the optimization that Amazon and these centralized data centers have. They are globally positioned, can control what hardware is used, control data locality, and are constantly innovating new ways to speed up and provide clients better service.
As someone who’s very interested academically in distributed systems/cloud computing, decentralized storage/computation is the most bearish looking part of the market for me going forward. It’s not going to win business contracts since it simply can’t beat the performance. Private individuals can use it, but I’d rather just use Dropbox/google drive that’s completely free to use
Edit: forgot to mention data security as well. Despite having some of the best encryption on the planet, these big providers spend a lot on physical data security and take it very seriously. Just handing out data to anyone on the network, no matter how encrypted/sharded, is a liability waiting to happen IMO. You can’t even begin to hack/decrypt data you have no access to
Thank you for the substantive response. The Dfinity Foundation has launched a fund of around $223 million to support development on its chain….so I’m confused why investors would put that much money on the table for a project that so many people’s knee jerk reaction is “it’s a scam”. Those seed investors in ICP aren’t fools, these are major investment firms puffing hundreds of millions where their mouth is….I feel like the cryptocurrency Reddit community is overlooking something but I’m not tech savvy enough to know what it is. Can you identify any pros to the idea of decentralized web service? I know one is supposedly that Amazon can’t arbitrarily remove your site, for instance, if it’s on a decentralized server like ICP.
RNDR is another amazing distributed cloud service program for GPU cloud services
Now whether this changes in the future or not as it stands they are currently gate keeping and decide who can and cannot run a node on the network.
You are basically trading one centralized solution for another.