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ENS just airdropped 1.55B$ to their code contributors, early adopters and community members.

Can this (tradeable governance tokens) be a solution for FOSS project sustainance?

@nilesh crypto is generally a really bad idea, especially as a "price" for developers, most of thems are either scams or they are resource wasting as pure heck..

@sotolf How are (good) crypto projects - like Brave, Filecoin, ENS - any different from startups offering equity to their investors? It seems like crypto is the only place where alternative funding models for public goods are being experimented upon.

@nilesh Startups are very often scams as well, so much of this is just a layer of promises built upon promises of hopes of something being possible, crypto is still a solution looking for a problem.

@sotolf This is bit too cynical for me. Most of digital products that people are using these days - are those built by startups, not altruist developers.

@nilesh So, which problems does crypto solve in a better way? I have asked many many people this, and never got a good answer.

@sotolf

- Support development of a web browser that's not owned/funded by Google/Apple (Brave)

- A cheaper marketplace for stoarge (FileCoin is 1/5th the cost of AWS)

- Domain name registries that cannot be censored by ICANN (ENS)

@nilesh Regarding your first point, according to a quick google search brave has quite bit of venture funding, it's not funded by their scam crypto coin, but by big venture funds..

crunchbase.com/organization/br

The second is a niche thing with questionable scaling

While I see no reason why the last one couldn't just be a normal database.

@sotolf Why are those VCs funding Brave in the first place? The revenue model of Brave is centered around Brave Attention Token. I don't like the fact that it is still adtech, but one has to agree this is at least an alternative to Google/Apple browser duopoly and more secure, user-centered than Firefox which is too dependent on Google and therefore, makes user-hostile choices.

@nilesh Brave is just a chrome clone, so it's a bad example, it's playing into google's chokehold of the net nothing else. I see no place that shows any real revenue from BAT, it's basically just a ploy to get money from venture funds.

@sotolf @nilesh it seems like this community generally is fairly anti-crypto. That’s fine - everyone’s entitled to their thoughts. It’s interesting, though, because I would think the FOSS community has similar goals.

I see positive use cases for projects like ENS and IPFS that will help decentralize the web. It helps lessen the reliance on large tech company’s ecosystem by moving ownership back into users hands. Which is the same general mission for federated systems.

@kaidao @nilesh ens just seems like a less efficient hyped up dns system, ifps I've heard of but I didn't know it had a connection with crypto so that would probably be a better example.

The thing is with Foss people is that we're mostly for things that can be smaller and easier understood, I don't really see crypto as being a good fit since it's just large, built to be confusing, and it's a big market for scams and hype.

@nilesh @sotolf the thing with ENS that is exciting to me is that the domains are all on the ledger, which is validated by everyone. It’s inefficient and with gas prices now, costly as well, but the ownership piece is what’s interesting to me. Same as with IPFS.

And I hear you about the scams and hype. I just started getting interested in the space during 2013ish with the ICO craze so there was plenty of that. The industry has settled a bit though, with larger legit projects pulling ahead.

@kaidao @nilesh What are the resources used to verify a single entry? for nfts running on the etherium chain it's more electricity than is used for a family home for a whole year, that is crazy, especially as we are in a place where we're already killing the planet.

It has settled down? Just the last months we've had squid game coin and save the kids...

@nilesh @sotolf resource usage is absolutely still a problem that needs to be solved, hopefully by the move from proof of work to proof of stake.

The other problem, at least for ETH, is transaction fees. Which is the hope for the L2 solutions coming up.

And squid game coin - lol, anyone in the community (who’s not just gambling on hype) could tell that was a rug pull. There’ll still be scams, but you have to see that most of the longer lasting projects are legitimate.

@nilesh I think it’s an interesting idea. As you mentioned in another comment, it provide an alternative revenue stream for contributors through tokenomics.

Another interesting project that touches on the same idea is Gitcoin

@kaidao Gitcoin could haven't been great but their idea of "public goods" is only projects that improve Ethereum ecosystem and keep ETH valuable. For them "public" is only ETH holders.

@nilesh It’s understandable since they’re heavily embedded into the ETH ecosystem, but I agree. They do use their tokens as a funding source though, to your original toot.

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