I completely agree with the author. I've been reading a lot about the EVM, and while there's some interesting technology involved, it feels unlikely to be able to support any worthwhile applications outside of blockchain finance or moving $ around the world[0] (since the code can really only directly reference the blockchain itself).
It's a bit like playing with a programming language in a sandbox that has (1) has no I/O functions[1], and (2) has enormous costs associated with even the most basic of computations. Ok, it's not like that; it is exactly that.
Sure, you could build a crypto toy and convince some suckers to transfer some of their wealth to you, but calling it an app platform or the next evolution of the web is definitely a stretch. I sincerely wish that wasn't the case (I'd love to find an exception), but that's what I've come to conclude.
[0] Don't get me wrong, there's tremendous value in being able to move money around the world without the blessing of governments and central banks!
[1] Any interaction with entities outside the blockchain require oracles, and at that point, you might as well throw away the other benefits of being on a blockchain.
It's a bit like playing with a programming language in a sandbox that has (1) has no I/O functions[1], and (2) has enormous costs associated with even the most basic of computations. Ok, it's not like that; it is exactly that.
Sure, you could build a crypto toy and convince some suckers to transfer some of their wealth to you, but calling it an app platform or the next evolution of the web is definitely a stretch. I sincerely wish that wasn't the case (I'd love to find an exception), but that's what I've come to conclude.
[0] Don't get me wrong, there's tremendous value in being able to move money around the world without the blessing of governments and central banks!
[1] Any interaction with entities outside the blockchain require oracles, and at that point, you might as well throw away the other benefits of being on a blockchain.