• niucllos@lemm.ee
      link
      fedilink
      arrow-up
      4
      ·
      5 months ago

      Sure, but so do a lot of other things that aren’t as costly. If NFTs were the first secure way to authenticate things online we wouldn’t have had online banking until very recently

      • Imacat@lemmy.dbzer0.com
        link
        fedilink
        arrow-up
        3
        ·
        5 months ago

        True but trust is hard to establish in decentralized platforms like the fediverse. As far as I’m aware the only decentralized banking is unfortunately cryptocurrency.

        • itslilith
          link
          fedilink
          arrow-up
          1
          ·
          5 months ago

          What NFTs (and crypto in general) do is very different from a web of trust style approach

          Crypto creates one source of absolute truth, the Blockchain, costly computed via consensus.

          Web of trust, on the other hand, requires you to declare which accounts you trust. Via public-private key signing, you can always verify that a post is actually made by a specific person, and if you trust that person (e.g. because you’ve met them before and exchanged keys), you know it’s legit. You can then extend that system by also trusting accounts your trusted accounts verified, etc