There are I/O functions - oracles like Chainlink which put real-world data on the Blockchain. Those can also be further decentralized or at minimum used only for services where you have to trust a centralized entity without having to exit the Blockchain just for that. Those already enable me to e.g. quickly bet on TSLA via synths with money I have in crypto without cashing out and going through a broker.
>(2) has enormous costs associated with even the most basic of computations.
On one of the chains (Ethereum) but there's plenty of other popular chains with much lower costs.
There are I/O functions - oracles like Chainlink which put real-world data on the Blockchain. Those can also be further decentralized or at minimum used only for services where you have to trust a centralized entity without having to exit the Blockchain just for that. Those already enable me to e.g. quickly bet on TSLA via synths with money I have in crypto without cashing out and going through a broker.
>(2) has enormous costs associated with even the most basic of computations.
On one of the chains (Ethereum) but there's plenty of other popular chains with much lower costs.