61–70 of 109 posts
Why is nobody talking about IOTA?! 7 years of development on feeless smart contract development and tangible results bolstered with robust private and public partnerships. Germany is bullish on IOTA
Why is nobody talking about IOTA?! 7 years of development on feeless smart contract development and tangible results bolstered with robust private and public partnerships. Germany is bullish on IOTA
Doesn't this just make on-boarding users even more convoluted? You'll have to probably get a large amount of Ether and then 'commit' it to another L2 to receive whatever their backed token equivalent is. Then you'll use this token to pay for things which will have no network effect, apps, or merchants in the beginning. Basically all adoption goes back to square one while providing a confusing and worse user-experienc…
Someone else can do that and then sell you the L2 token directly.
Why use L2 when one can have a better experience with much lower fees (Solana, Avalance, Flow & Near). The new generation Blockchains like Solana and Avalance are far better than Ethereum. They are going throgh some growing pains, other wise, they beat Ethereum to dust in terms of speed, latency and performance. Solana takes a second to confirm a transaction, with 0.00025$ fees and can support more than 100,000 tx/s.…
I think the scariest thing that people think of and I originally thought when I heard Ethereum will scale with "Layer 2's" is you are sending your money to a blockchain you do not have the keys to do not actually control the funds. The layer 2 scaling solutions will seamlessly interoperate with the current dapps that will be ported over looking seemless for users. You are essentially holding your capital in a contract you can call on at anytime and retrieve to the settlement layer (Ethereum layer 1).
These are the trade off imo and do not make either system better. I just prefer decentralization if I'm holding capital on a blockchain for an extended period of time.
"Gas fees on Ethereum are supposed to be high" https://twitter.com/VitalikButerin/status/981090555697405952
I don't really get why we have a thousand coins trying to solve the same problem that Bitcoin Cash solved in 2017. (Or, in 2009, if you accept that BCH is the same formula as original Bitcoin, and that it is Bitcoin Core that changed its design. They share the same history.) If you want cheap transactions, for actual cash-like usage rather than a "settlement layer", you need big blocks. It is not rocket science.
A transaction incurs one-time electricity costs for the miner, but also permanent storage costs for miners (who must have a full blockchain copy). For a miner, currently the latter is negligible. Increasing block size implies more storage space needed, which would push amateur miners out, making Bitcoin less decentralized than now[0]. Over time, the storage costs will become massive. This is why block sizes have stay…
> What most people don’t know is: Gas fees on Ethereum are supposed to be high. Count me among those not in the know! I...really don't get it. Bitcoin was supposed to be a currency. Then we realized that it's too slow and too energy-hungry for that. So we retcon'ed it into, it's a store of value! Etherium was supposed to be a place for smart contracts. Then we realized it's too slow and gas-hungry for that. So...we r…
Bitcoin was always supposed to be a store of value, 21M and all that. The problem is that people think that store of value can't be a currency.
I'm old enough to remember it was always called "currency".
Why use L2 when one can have a better experience with much lower fees (Solana, Avalance, Flow & Near). The new generation Blockchains like Solana and Avalance are far better than Ethereum. They are going throgh some growing pains, other wise, they beat Ethereum to dust in terms of speed, latency and performance. Solana takes a second to confirm a transaction, with 0.00025$ fees and can support more than 100,000 tx/s.…
I am amused by the mental gymnastics deployed by Ethereum holders such as "It was meant to have high fees", or "High fees keep it decentralized". Guess what, BitTorrent is decentralized they charge nothing. It's okay to admit that you made a wrong investment / choice and pick another option, you can always change mind and pick a better option (I will not recommend or shill any one of them here).
It seems it would be like if I compared the price of gasoline ($3.80/gallon here) to the price of water ($0.00018/gallon if I use a lot, 25% less if I use an ordinary amount) and said this shows that gasoline is way overpriced because they are both liquids.