Wilson doesn’t go into many details about how a blockchain-powered media platform would work. But the gist seems to be that a media platform built on top of the blockchain would not need a company to manage it because the network of people or computers that confirm each blockchain entry would collectively serve that function.
Something I think is important or something I'd really like to know is actually how can sites be built on top of the blockchain? I keep hearing about all the things that allegedly can be can anyone explain it in laymen terms how it can be achieved?
The article goes on to state this:
The way a decentralized reddit works is like this. Each user has an app, the reddit app, which connects to the reddit p2p network. For most users, the app is a normal web app. Each user funds their own app with a small amount of bitcoin. In order to download content, the user pays a very, very small amount of bitcoin to the peers on the network. This incentivizes people to keep the app open so as to keep servicing the other users. Furthermore, when a user upvotes content, that sends a small amount of bitcoin to the author of that content, thus incentivizing the production of good content. If all the content is authenticated, we can be reasonably sure most payments are going to the right people.
In this scenario, reddit, Inc. still exists, they just don’t have a monopoly on the hosting of reddit content. Instead, anyone can run the app to host the content, and reddit, Inc. is just the biggest service provider. Any user can run a business by running the app full-time. Any user, including reddit, Inc., can censor content they themselves deliver to other users, but cannot censor content other users send to other users.
But I've still no idea how it would work by being built on top of the blockchain, but still exciting nevertheless.
