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Ethereum London Mainnet Announcement

blog.ethereum.org

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Re: Ethereum London Mainnet Announcement

#41

Post by 3np »

tomc1985 wrote: post #32
michaelsbradley wrote: post #7

If readers are curious how to get up-and-running with a (non-mining) full node (ETH1) at home, it's quite simple. This is how I did/do it on my Intel NUC running Ubuntu Server 20.04: 1. Download a prebuilt binary from https://geth.ethereum.org/downloads/ . 2. Unpack it. Optionally make it (or a symlink) available in your PATH. 3. Create a service definition, enable it, and start it: [Unit] Description=Go Ethereum [Se…

I don't understand, why is spinning metal not good enough? For the large amount of storage required it seems like it would be a good idea.

If you use spinning rust for the initial sync you’ll most likely never catch up.

If you have craploads of RAM to allocate to ARC, you may actually be able to do it on ZFS I guess.

Re: Ethereum London Mainnet Announcement

#42

Post by sonograph »

arcticbull wrote: post #12
hanniabu wrote: post #3

Earlier quoted context omitted.

The deflationary aspect isn't speculated to kick in until after the merge to PoS when the issuance drops significantly. Regardless, I don't believe it will be deflationary long term. It will likely just last a year before it reaches an equilibrium.

The loss of coins means it will likely be massively deflationary over time. I don't have the numbers for ETH but off hand I believe 20% of all BTC has been lost already, since just 2009. That's an annualized 1.55% effective supply deflation rate during a period where new supply was quickly generated. Basically every random walk down the timeline leads to 100% of coins lost in the course of time. This is of course sep…

> Basically every random walk down the timeline leads to 100% of coins lost in the course of time.

Rather, I believe it will result in the remaining 20% being held by a few exchanges, whose endgame will be to still charge the fees but just balance them internally without actually costing anything.

Re: Ethereum London Mainnet Announcement

#43

Post by ascendantlogic »

ithinkso wrote: post #25
ascendantlogic wrote: post #24

Earlier quoted context omitted.

It is up to the consensus. If enough people opposed a release and were able to coordinate their own fork then they are still free to do so. > The leadership can decide the rules of a new fork unless everyone else coordinate to oppose it? You are 100% free to not install the latest upgrade on your node(s). Unless you have enough people who agree with you and coordinate their refusal to upgrade you will be a network of…

Sounds like 'you are in your right to opt out of our policies if you disagree with an upgrade, it will immediately terminate all of your mining' And then saying that most people support you because only small percent of people opted-out

How did you expect a decentralized, consensus-driven network to operate without some level of consensus? You think 1 node forks should be as viable as 10,000 node forks?

Re: Ethereum London Mainnet Announcement

#44

Post by eminence32 »

vvpan wrote: post #40
tomc1985 wrote: post #32

Earlier quoted context omitted.

I don't understand, why is spinning metal not good enough? For the large amount of storage required it seems like it would be a good idea.

Sometime in 2017/18 it has been found that one of the biggest bottlenecks for the network were propagation speeds and that those were largely weighed down by disk writes. Thus pretty much the whole network switched to SSDs and things improved tremendously. Some other networks have implemented stateless clients and Ethereum has been working on going in that direction for a while with a lot of effort being dedicated to…

Does the node need bulk write speeds? or does it need fast IO ops per second?

Re: Ethereum London Mainnet Announcement

#45

Post by arcticbull »

sonograph wrote: post #42
arcticbull wrote: post #12

Earlier quoted context omitted.

The loss of coins means it will likely be massively deflationary over time. I don't have the numbers for ETH but off hand I believe 20% of all BTC has been lost already, since just 2009. That's an annualized 1.55% effective supply deflation rate during a period where new supply was quickly generated. Basically every random walk down the timeline leads to 100% of coins lost in the course of time. This is of course sep…

> Basically every random walk down the timeline leads to 100% of coins lost in the course of time. Rather, I believe it will result in the remaining 20% being held by a few exchanges, whose endgame will be to still charge the fees but just balance them internally without actually costing anything.

The best, safest, fastest way to use the blockchain is to not.

Re: Ethereum London Mainnet Announcement

#47

Post by bogota »

dcolkitt wrote: post #18
arcticbull wrote: post #12

Earlier quoted context omitted.

The loss of coins means it will likely be massively deflationary over time. I don't have the numbers for ETH but off hand I believe 20% of all BTC has been lost already, since just 2009. That's an annualized 1.55% effective supply deflation rate during a period where new supply was quickly generated. Basically every random walk down the timeline leads to 100% of coins lost in the course of time. This is of course sep…

Arguably, Ethereum's even more prone to this of loss than BTC, because of the complexity of broken smart contracts with permanently locked funds.

I think it evens out though because of a lot of early people with lots of bitcoin just lost interest and lost the wallet. This was sadly the case for me as well as a few other people i know.

By time eth came out though everyone was much better about backing up wallets you thought would be worth nothing.

Re: Ethereum London Mainnet Announcement

#48

Post by melolife »

randomhodler84 wrote: post #13

Will the miners accept 1559? It’s an optional space, miners are free to maintain the old chain and split. Of course this would be catastrophic. I know my history, this isn’t anything like the other times.

People keep bringing this up, and the question you need to ask is why would anyone other than miners choose the non-fork chain? The fork will happen as long as one person is willing to mine it.

Re: Ethereum London Mainnet Announcement

#49

Post by [deleted] »

ascendantlogic wrote: post #43
ithinkso wrote: post #25

Earlier quoted context omitted.

Sounds like 'you are in your right to opt out of our policies if you disagree with an upgrade, it will immediately terminate all of your mining' And then saying that most people support you because only small percent of people opted-out

How did you expect a decentralized, consensus-driven network to operate without some level of consensus? You think 1 node forks should be as viable as 10,000 node forks?

[deleted]

Re: Ethereum London Mainnet Announcement

#50

Post by nodesocket »

michaelsbradley wrote: post #30
TarasBob wrote: post #26

Earlier quoted context omitted.

You can run a validator on a regular laptop or even a phone. You need to have 32 ETH minimum though, which is around $60,000.

Correct, but I wanted to note that activating an ETH2 validator requires an exact 32 ETH deposit, no more and no less.

If you are chosen to validate but your validator is down, broken or incorrect there is a penalty where they keep some of your ETH right?
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