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The Ethereum merge is done

coindesk.com

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Re: The Ethereum merge is done

#101

Post by llanowarelves »

ramraj07 wrote: post #54
mightyRodri wrote: post #36

Earlier quoted context omitted.

I wouldnt worry, the whole system up to this point has used "technobabble" as a means to confuse and impress outsiders. When reading up on it, there is no meaning to find besides "yep, its a linked list allright".

The mark of ignorance is to dismiss things you “think” are beneath you before any real consideration. In my opinion too, the crypto crowd is typically one I like to avoid. But to dismiss the tech behind it as babble is sad.

There's a lot of slang and jargon (metaphors, some good, some silly), to the point where most crypto projects are scams, hiding what's going on (many DeFi projects built on Ethereum).

And this is my opinion as someone who loves the value proposition of what cryptocurrency was supposed to be (see first line of Satoshi whitepaper), and care more about seeing the technology gain mindshare than hype cycles and price movement.

Re: The Ethereum merge is done

#103

Post by shafyy »

mrpopo wrote: post #23
scambier wrote: post #15

Earlier quoted context omitted.

Wait, the Ethereum blockchain alone was consuming 0.5% of the world's total energy?

Total electricity*. Which is still huge, I am not sure people realize that there are no more low-hanging fruits in the form of a technical feat that a small group of people can accomplish like this, without impacting people's lives.

It's weird to celebrate the electricity savings of Ethereum like this. It's good that it's less energy-intensive now, but it was that energy-intensive before because of Ethereum in the first place.

Re: The Ethereum merge is done

#104

Post by AgentME »

duskwuff wrote: post #95
jazzyjackson wrote: post #44

Earlier quoted context omitted.

The validator is randomly chosen, no? So we essentially have a lottery as a banking system now?

Worse: a lottery for the rich. Validators are required to stake at least 32 ETH (~$52k USD) to participate.

There are validator pools that let people stake smaller values.

Re: The Ethereum merge is done

#105

Post by jillesvangurp »

rvz wrote: post #18

Good. The merge worked and they are not burning up the planet. Now when are those Deep Learning systems in these data centers going to stop incinerating the planet with their useless deep learning models that not only are broken but require constant retraining and wasteful CO2 energy usage for years without any efficient alternatives?

They have largely already switched to renewable energy so they can operate cheaper. Depending on fossil fuels has been a bad business plan for quite a few years now and no new data centers are coming online that depend on it. Some of the older data centers are the exception to this rule. But even those are the target of massive efforts to de-carbonize as soon as possible.

Re: The Ethereum merge is done

#106

Post by Kiro »

colesantiago wrote: post #62

This doesn't really change anything, I still cannot find any legitimate use cases for blockchain, Proof of Stake or not. I would happy to be proven wrong, but this is extremely rare as I can't find any legitimate actual useful use case since Bitcoin and Ethereum's existence.

The use case is that it's fun and with PoS you don't need to feel guilty having fun at the expense of the environment.

Re: The Ethereum merge is done

#107

Post by pbak »

mightyRodri wrote: post #36
lmarcos wrote: post #28

> The Merge is one of the largest technological events in the industry to date. I feel kinda ashamed. I work in the IT industry and I claim to have knowledge about ("good") software engineering practices, distributed systems, compilers, algorithms, etc. Nevertheless, I didn't understand a word of what the article is saying. Could you recommend serious references (preferably books and not random blogs) I could read to…

I wouldnt worry, the whole system up to this point has used "technobabble" as a means to confuse and impress outsiders. When reading up on it, there is no meaning to find besides "yep, its a linked list allright".

Yeah,

Fully distributed consistency algorithms running on N nodes on linked list in which each node is a Turing-machine program run concurrently on N nodes, whose consistency shall also be insured, and which can write on said linked-list. Everything has absolutely tons of edge-cases related to the distributed nature of the thing to take care of.

Of course, I haven't even begun anything about the whole "crypto" part, and minimizing power usage.

Absolutely no meaning besides "linked lists", riiiight...

Re: The Ethereum merge is done

#108

Post by Gigachad »

JonathanBeuys wrote: post #6

It worked. And it reduces the world's energy bill by 0.5%: https://twitter.com/JonathanBeuys/status/1570305323629527046 I feel a great disturbance in the force. As if a million miners cried out all at once and then were suddenly silenced.

I wonder if this gets accounted for somehow, where power prices drop slightly causing bitcoin miners to pick up the savings.

I’m gonna assume there won’t be some huge shutdown of power plants so this power is still being produced.

Re: The Ethereum merge is done

#110

Post by talhof8 »

miguelmota wrote: post #92
colesantiago wrote: post #62

This doesn't really change anything, I still cannot find any legitimate use cases for blockchain, Proof of Stake or not. I would happy to be proven wrong, but this is extremely rare as I can't find any legitimate actual useful use case since Bitcoin and Ethereum's existence.

> I still cannot find any legitimate use cases for blockchain Blockchains solve the double-spend problem. Allows for scarcity in the digital realm. Ethereum is a platform for decentralized finance, anyone can borderlessly lend and borrow in seconds. Endless possibilities.

When will those endless possibilities meet reality though?
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