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Goodbye Gas Fees

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Re: Goodbye Gas Fees

#101

Post by cableshaft »

alasdair_ wrote: post #26
obulpathi wrote: post #19

I don't buy the argument: "ETH fees was meant to be high!". Its the same as saying "ETH is meant to be unusable for people other than whales."

Isn’t a low number of transactions per second essentially built in to the original ETH spec? If so, surely it’s likely that each transaction should be expensive?

If I remember correctly, L1 ETH can handle ~13 transactions per second. Meanwhile L1 Bitcoin can handle ~4 transactions per second. At the time it was introduced, one of Ethereum's selling points was that it was able to handle 3x more transactions per second than Bitcoin, IIRC.

300% more is usually considered a good upgrade for most things (Apple is touting a whopping 20% speed increase on their latest iPad, for example). It's just that six years is a long time in this space and they've learned how to make things a lot faster since.

Re: Goodbye Gas Fees

#102

Post by basch »

jacob_rezi wrote: post #41
alasdair_ wrote: post #31

Earlier quoted context omitted.

> serves as a promise from the job seeker that the resume is truthful. Isn’t that sort of implied when someone gives you a resume? Have you noticed a lot of job applicants saying things like “that pdf I gave you? Total bullshit, I made it all up. But this? This is real, because blockchain!”? Also, do you even store the resume on the blockchain, or do you just store a url? If the latter, what happens when the original…

I should not have googled goatse... Unfortunately lying on a resume remains a huge problem that has been left untouched. We've lead innovation in the space of resume software for the past couple of years now, so adding this download option is a step towards the solution.

Like how chess computers have changed how humans play chess, the recursive GPT-3 + marking gobbledygook feedback loop has made humans who write like computers. I cant tell if the post im replying to is a person being serious, a computer being serious, a person being a troll, or a computer emulating trolls. Or a cyborg hybrid of all the above.

The whole post reads extremely formulaic.

Repeat what what was just said -> "Unfortunately lying on a resume remains a huge problem that has been left untouched."

Made up claim of leadership in a non existent field -> "We've lead innovation in the space of resume software for the past couple of years now"

Future promise to keep attention, or claim of something new that is identical to old -> "so adding this download option is a step towards the solution"

= no

Re: Goodbye Gas Fees

#103

Post by shiohime »

HorizonXP wrote: post #35
obulpathi wrote: post #17

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.…

Solana and Avalanche are fantastic L1s, and I am optimistic for their future. But I'm skeptical of their ability to replace Ethereum. To Solana's credit, they opted to create their own smart contract VM based on Rust, rather than build an EVM-compatible VM. It will take them time to get developer mindshare, but there's a real possibility to build dApps on Solana that couldn't exist on Solana. The same is true in some…

You can already bridge NFTs from ethereum to solana and back using wormhole though.

Re: Goodbye Gas Fees

#104

Post by TimJRobinson »

I really resonate with Nat's DeFi articles. If you're wondering "What are blockchains even useful for" I highly urge you to look at his other articles on the Almanack. He does deep dive's into all the interesting DeFi products, and almost all are products that are not possible without a blockchain.

Re: Goodbye Gas Fees

#105

Post by throwaway21332 »

rvz wrote: post #98
throwaway21332 wrote: post #50

Earlier quoted context omitted.

Binance is supporting direct deposits/withdrawals to Arbitrum. I'd expect more exchanges to do this with other L2s.

So once again, Ethereum users relying on centralized exchanges to bring the gas fees down (when the steps involved confuses users and the fees are still high). Given that being the case, the general decentralization argument would be pointless. For the many users who need to be able to pay for their groceries quickly, you might as well use Solana then, since everyone needs to eat. The whole point of Uniswap is to mov…

Arbitrum doesn't require you to use a centralized exchange, it's just easier to onboard with "fiat -> centralized exchange -> arbitrum" than "fiat -> centralized exchange -> ethereum -> arbitrum".

Re: Goodbye Gas Fees

#106

Post by ashwagary »

chizhik-pyzhik wrote: post #37
obulpathi wrote: post #17

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.…

These other chains don't beat Ethereum in terms of decentralization and uptime. It tells you a lot about the tradeoffs made when Solana has gone down several times in the past few months and the solution is for all the validators to get together and collectively 'restart' the network.

Ethereum has proven that many dont care about decentralization in the short term, so ETH will be forked to death over the coming years to achieve lower fees and high throughput instead.

Re: Goodbye Gas Fees

#107

Post by Irongirl1 »

shiohime wrote: post #58
Uptrenda wrote: post #20

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…

Even if you can withdraw straight to L2s, the main problem I have with this scaling solution is it is too convoluted. I have no faith in being able to explain this to people who aren't already crypto enthusiasts. It seems much easier to explain how to use a single scalable L1 than to explain a cluster of ever growing L2s and sidechains. I know there is a lot of work in the ecosystem but really this has to be masked h…

May I ask what is probably a stupid question? What about Phantom.app as a wallet for a noob? I am leaning towards ETH, but all of the wallets looks exceedingly complicated...except for this one.

Re: Goodbye Gas Fees

#108

Post by shiohime »

Irongirl1 wrote: post #107
shiohime wrote: post #58

Earlier quoted context omitted.

Even if you can withdraw straight to L2s, the main problem I have with this scaling solution is it is too convoluted. I have no faith in being able to explain this to people who aren't already crypto enthusiasts. It seems much easier to explain how to use a single scalable L1 than to explain a cluster of ever growing L2s and sidechains. I know there is a lot of work in the ecosystem but really this has to be masked h…

May I ask what is probably a stupid question? What about Phantom.app as a wallet for a noob? I am leaning towards ETH, but all of the wallets looks exceedingly complicated...except for this one.

Phantom wallet is great! It's currently primary a solana wallet, but I believe that they are in beta for Ethereum support, but if you are curious to try out web3 stuff Solana is great for it. I strongly prefer the UI over this wallet compared to Metamask for instance, and think it is a very user friendly wallet.

It's also quite easy to integrate with webapps.

Re: Goodbye Gas Fees

#109

Post by Irongirl1 »

shiohime wrote: post #108
Irongirl1 wrote: post #107

Earlier quoted context omitted.

May I ask what is probably a stupid question? What about Phantom.app as a wallet for a noob? I am leaning towards ETH, but all of the wallets looks exceedingly complicated...except for this one.

Phantom wallet is great! It's currently primary a solana wallet, but I believe that they are in beta for Ethereum support, but if you are curious to try out web3 stuff Solana is great for it. I strongly prefer the UI over this wallet compared to Metamask for instance, and think it is a very user friendly wallet. It's also quite easy to integrate with webapps.

Thank you for your prompt reply.
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