This "blockchain" space is getting so complicated that I can't see anymore what it is about. Is it a database? Is it a p2p network? Is it a currency? Most of the "blockchains" listed on aggregators such as coinmarketcap.com are essentially clients communicating to a few nodes which, for all we know, sync up in a coordinated way to provide the illusion of a decentralized consensus system. Like maybe we need to take a…
It’s a network supporting both a decentralized data-store with a consistent view into valuable data and an a distributed computer with consistent results. What is so hard about this?
The Limits to Blockchain Scalability
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Re: The Limits to Blockchain Scalability
#22A few questions re: why "Ethereum is not going further than quadratic [sharding]."
The first reason given: there's a minimum number of nodes required for shard for safety guarantees. So, a couple hundred shards, each with 1000 users seems like a limit. But I wonder: 10 years from now, if the blockchain (maybe pipe?) dreams succeed, then why do we expect 1000 * 500 = 5M nodes? This seems like it's quite small.
Especially if running a node on a phone ever becomes reasonable, or at least participating in the data availability process is possible here, then why would we not go further?
The second reason for non-super-quadratic sharding is data permanence. But here, couldn't we design different shards with different appetites for data permanence. Sure, NFTs currently are forever, but I can think of many applications where users do not give a damn about data permanence, and even some applications where users would prefer if data was just forgotten about.
In which case, what's stopping us from saying "these shards, we save. The other ones, who cares about." We would want users to opt into such guarantees, of course, but it seems reasonably possible.
Of course, let's get a good sharded blockchain before we optimize for more.
I'm excited to see how sharding research continues to involve and drives the cost per TX (economic and environmental) down. Consider me a cheerleader rooting for you all!
Re: The Limits to Blockchain Scalability
#23Re: The Limits to Blockchain Scalability
#24You could also just not scale the blockchain, and instead use layer 2 solutions, which is the bitcoin approach.
But then what's the difference with the existing solutions involving central banks?
Re: The Limits to Blockchain Scalability
#25Blockchain, Decentralization and Smart Contracts have had nearly a decade to prove their value and disrupt the marketplace. So far nothing but whitepapers, pipe dreams and exit scams - nothing my mother can use. What's the point? Nobody is using crypto as an alternative to fiat. Prove me wrong.
Re: The Limits to Blockchain Scalability
#26There has not been a single valuable use, a single product, that actually improves anyone's day / process / life / anything. I am very open to changing my stance if someone presents evidence to the contrary.
Re: The Limits to Blockchain Scalability
#27Re: The Limits to Blockchain Scalability
#28Blockchain, Decentralization and Smart Contracts have had nearly a decade to prove their value and disrupt the marketplace. So far nothing but whitepapers, pipe dreams and exit scams - nothing my mother can use. What's the point? Nobody is using crypto as an alternative to fiat. Prove me wrong.
On January 29, 1886, Carl Benz applied for a patent for his “vehicle powered by a gas engine.” The patent – number 37435 – may be regarded as the birth certificate of the automobile. In July 1886 the newspapers reported on the first public outing of the three-wheeled Benz Patent Motor Car, model no. 1.
Re: The Limits to Blockchain Scalability
#29Re: The Limits to Blockchain Scalability
#30Earlier quoted context omitted.
On January 29, 1886, Carl Benz applied for a patent for his “vehicle powered by a gas engine.” The patent – number 37435 – may be regarded as the birth certificate of the automobile. In July 1886 the newspapers reported on the first public outing of the three-wheeled Benz Patent Motor Car, model no. 1.
What a strange response. Did you respond to the wrong comment?