launching a token on mysql

[mrpug]

Hey there,

ok this may be a bad idea, but has anybody ever considered building a dApp on a regular webserver/database? Projects are centralized around the founding team anyway, and the worth of a token pretty much entirely depends on how well they do their job.. so it doesn't seem to make a big difference if the app and token is initially running on their server instead of a trustless architecture. Especially if the goal is to decentralize the foundation itself, e.g. by involving the community as much as possible and having all decision-making done collectively by stakeholders. The foundation that runs the server would then be represented by the whole community and become less of a centralized entity.

This would help with many of the issues that prevent wider user adoption, like having regular username/password authentication, account recovery, name system, no fees, no speed and scaling issues, no need to set up metamask and have eth to engage, easier way of staking tokens (thus higher voter turnout), and many more things that would improve the user experience and with it the social decentralization. Having the software open source and data fully transparent would make it publicly auditable and even give the community the ability to fork to a new server when desired. As soon as platforms like Ethereum or Bitcoin Layer2 have matured, the dApp could then be migrated there later on.

Admittedly this further centralizes the trust model towards the foundation initially, but it may be worth the trade-off for various use-cases. Would love to hear some opinions, especially about the legal aspects when issuing a token on a regular server instead of a blockchain..

cheers
mrpug

[1714289952]

1714289952

[mocacinno]

Sure, you could do this... But this project wouldn't belong on the bitcointalk forum IMHO.
The thing you're doing is just building a new paypal, exept your token wouldn't be backed by FIAT money... It would just be a centralised database, vulnerable to exploits, chargebacks, record updates,... It would have nothing to do with the blockchain or crypto currency in general.

[mrpug]

yeah but wouldn't be the goal to make the new bitcoin or paypal, more like a gateway to actual usable dapps and daos until they are similar user-friendly on decentralized platforms. It would help decentralizing the social layer first and get more people involved, which is the most centralized aspect at the beginning of a project. Then the community as a whole can coordinate the further steps, which platform to chose and when.