Bitcoin Will Never Be The Backbone Of Web3!

Moi kaikki – hi all. Pekka Kelkka aka Papa Blockchain here! Welcome to Papa Blockchain uncut web3 education channel.

First; I love Bitcoin. It is by far the best store of value there is in the world. Much better than e.g. gold. Bitcoin is Gold 2.0. Period!

BLOCKCHAIN TRILEMMA

Security
Decentralization
Scalability

The blockchain must solve the Blockchain Trilemma before it can go mainstream. Bitcoin is the most secure the most decentralized blockchain protocol but it can not scale – not now not ever…and I’m talking about the core Bitcoin protocol, not Bitcoin Layer 2s or side-chains which are not so secure and decentralized as the Bitcoin mainchain

THE NEXT VERSION OF THE INTERNET, WEB3 WILL BE DECENTRALIZED!

Web3 – the next generation of the internet – will solve 3 major problems that we have on Web2; on the internet, as we know it today:

We will give our data back
We will get our privacy back
We – the users – can monetize it!

On decentralized web3 the metaverses will replace the centralized websites. We will have at least as many metaverses on web3 as we have websites on web2.

On top of that, we will have a huge number of decentralized applications (DApps) such as Decentralised Finance (DeFi:

We will move from one metaverse to another within our avatars. Our avatars can look different on different metaverses. For that, we need to have a decentralized ID to prove the ownership of our avatars

Metaverses run on several blockchains. Moving between blockchains must be seamless and easy and secure!

Dear friends and colleagues. Today we have approx 1,1 billion websites (!). https://siteefy.com/how-many-websites…

How can web3 handle 1 billion metaverses + the DApps?

We need to solve the Blockchain Trilemma. No single blockchain alone can manage a large decentralized environment. It requires several blockchains working seamlessly together.

I appreciate it if you would watch the video. I will explain this challenge more from Bitcoin’s perspective on it.

I love Bitcoin… I love all good decentralized protocols and applications that will bring value!

If you have not subscribed to my YouTube channel there is no better day than today to do it.