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This vision often includes harnessing so-called blockchains, the technology behind cryptocurrencies like Bitcoin, which is decentralized. In other words, no single entity has power over the system.
Mastodon, Lemmy, kbin and in general the Fediverse shows that no blockchain is needed to achieve that goal.
Yeah, but tech journos are so far up Big Tech’s cloaca that they can’t imagine any platform emerge without a business plan™. Couple that with their unreflected admiration for anything they’re told is The Next Thing and you have the gushing bit you quoted.
How will it handle the surge?
By enshittifying to make those venture capital bucks back.
