flamingos-cant

An interactive tragedy.

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Joined 2 years ago
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Cake day: June 12th, 2023

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  • flamingos-cant@feddit.ukOPtoTechnology@lemmy.worldMatrix is cooked
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    3 days ago

    The article shortens venture capital to VC. It also didn’t confuse the Matrix Foundation with a VC firm of the same name, it’s talking about Element (formerly Riot). Like, the article says this in pretty simple English, I’m genuinely confused how you could’ve missed it:

    In roughly the beginning, there was two organizations that came out of the project: The Matrix Foundation and New Vector Ltd / Riot / Element. The idea was for New Vector Ltd to carry out the necessary work and bring in the necessary funding for the Matrix Foundation to thrive. Or well, so I’ve been told.

    They had multiple funding rounds lead by the likes of status.im, Automattic, the AI and Web3 company protocol labs and others; You get the gist, lots of VC and similar funding also a questionable amount of “Web3” and bullshit generation AI. Element was then tasked with using that to build the software that would power Matrix.







  • As the FAQ says, the base protocol doesn’t use tokens.

    I don’t care what the protocol technically makes feasible, people don’t use protocols they use software that interprets protocols. ActivityPub doesn’t actually require DNS, but you (correctly) say it does because there’s no software out there people will use that doesn’t require DNS. The point is you still tied human readable names to the blockchain, something absolutely not optional for social media software. No one is going to be like “you should sub to p/nrlaoii2nsl2, the memes are 🔥”.

    NFT profile pics tied to a user’s plebbit account, because we whitelist the specific NFT collections to prevent NSFW profile pics

    Who is “we” here and why do they get to decide what’s acceptable in my community (‘subpleb’ if you will)?


  • From the FAQ linked on the site:

    Q: Is this running on ETH? A: the token is on ETH, the plebbit protocol itself it not a blockchain, but the app will use several blockchains, tokens and NFTs to recreate all the features from reddit, like usernames, subplebbit names will be crypto domains like ENS (and other chains), awards will be NFTs, tips and upvotes will earn tokens (can set them to your own token or any coin of your choice in your subplebbit)
    […]
    Q: What role does the PLEB token play? A: The base protocol doesn’t use tokens, which lets people who don’t have interest in cryptocurrency (yet) use it for free, but optionally you can use any tokens to do many things, for example you can use names.eth (ENS, which are non fungible tokens) to represent a username or subplebbit name. You can use NFT images as avatars. You can use fungible tokens and NFTs (any token or cryptocurreny of the subplebbit owner’s choice) to vote, curate, reward, tip, incentivize and/or as spam protection (instead of using captchas, require users of your subplebbit to own, stake, burn or pay a certain amount of a token/NFT of your choice to post/upvote). A subplebbit’s name like memes.eth (becomes /p/memes.eth) could be owned by a DAO, and owners of the DAO’s tokens could vote on chain for who gets to be admin and moderator of the subplebbit, i.e. a smart contract/DAO can be owner of a subplebbit.

    This sounds fucking awful. You want a peer-to-peer network, but decided to tie critical features to the blockchain, something arguably less decentralised than APub software.