If you think Amazon is an online retail store, then you need to rethink it again. Amazon is an online cloud rental service. If you think Coinbase is a crypto bank, then you need to think about it again. Coinbase is a cloud crypto rental service.
Here is 1 min summary of the article if you want to skip the reading.
Amazon - A Server Farm
Amazon has built up a server farm for many other businesses to rent and use. They built the infrastructure that provides computer resources to run businesses on the platform including many features. Similar to the idea of crypto mining nodes, Amazon provides computing hubs to users and prevents internet outages.
Coinbase Crypto Hub
Coinbase wants to achieve the same hub idea for crypto. Each blockchain has its individual internet services and layers of infrastructure running on top of that. Coinbase wants to provide a service that can run consistently without potential outage and DApps and other crypto projects can run on the blockchain and on the top of Coinbase service.
Centralized Service Hub
Only the problem with such an idea is that blockchain is decentralized and autonomous. The centralized hub will create a single point of failure and it defeats the purpose of the blockchain.
Decentralized Blockchain-based Internet
Since the internet will create a single point of failure, why don’t we create a blockchain-like internet with many nodes to provide internet speed and to eliminate the potential single point of failure?
Decentralized Blockchain-based Cloud Service
Perhaps there will be an infrastructure to have many hubs/nodes to support cloud computing and provide solutions without a single point of failure. Nodes will have sufficient computing power to support clouds and provide consistent service without possible interruption. Crypto projects can then run on the decentralized clouds and users can access anywhere they want to.
In conclusion
Coinbase is ambitious to become crypto AWS. However, decentralized cloud computing can easily outperform Coinbase.
This article is also published in Cryptologist as parnership publication.
PPhoto by Shubham Dhage on Unsplash
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Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
