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Ethereum has blobs. Where do we go from here?

vitalik.eth.limo

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Re: Ethereum has blobs. Where do we go from here?

#51

Post by hot_gril »

ArtTimeInvestor wrote: post #48
hot_gril wrote: post #47

Earlier quoted context omitted.

Its main purpose is internet currency. The only serious uses surround that via smart contracts, like decentralized exchanges or provably fair gambling (unsavory as that is). Any time someone says "the currency aspect is separate from blockchain," I'd be wary, seeing how the entire point of blockchain is decentralization via proof of work or stake. NFTs can make sense in theory as an alternative to the already-popular…

Are you using it as internet currency? I don't know anyone who paid anything with it in the last 12 months.

Yes

Re: Ethereum has blobs. Where do we go from here?

#52

Post by yieldcrv »

ArtTimeInvestor wrote: post #36

All this crpyto technology is fascinating. But is it used for anything? I asked this in an Ask HN today, but got no answer so far: https://news.ycombinator.com/item?id=39852389 It looks like not a single HN reader is using blockchain technology for anything. If nobody is using blockchain technology outside of blockchain projects, what are the reasons we expect that some day we will? What could be a near term use case…

a better question is to look at how people use it, the frictions they encounter, and who works on solving those frictions

just saying “speculation” as if thats not a use case misses that “financial services” are our biggest industry on the planet and thats mirrored in the blockchain space, many people solve frictions and compete with each other. it willfully ignores that all currencies are 99% held as stores of value and the M0 money supply is a tiny fraction used as cash and for merchant transactions, a distribution also mirrored in the blockchain space but ignorantly used to discredit it despite ironically showing how well it works as a parallel economy.

additionally due to the structure of blockchains as a pay to write database, most use cases that aren't related to stores of value or trading are intrinsically tied to something financial which makes the standard impossible

Re: Ethereum has blobs. Where do we go from here?

#53

Post by doublepg23 »

ArtTimeInvestor wrote: post #48
hot_gril wrote: post #47

Earlier quoted context omitted.

Its main purpose is internet currency. The only serious uses surround that via smart contracts, like decentralized exchanges or provably fair gambling (unsavory as that is). Any time someone says "the currency aspect is separate from blockchain," I'd be wary, seeing how the entire point of blockchain is decentralization via proof of work or stake. NFTs can make sense in theory as an alternative to the already-popular…

Are you using it as internet currency? I don't know anyone who paid anything with it in the last 12 months.

I’m using the Bitcoin Lightning Network to support podcasts every week or so. https://www.jupiterbroadcasting.com/boost/

Re: Ethereum has blobs. Where do we go from here?

#54

Post by pa7x1 »

bigyikes wrote: post #38
hanniabu wrote: post #11

> Today, we have all the tools we'll need, and indeed most of the tools we'll ever have, to build applications that are simultaneously cypherpunk and user-friendly. Really looking forward to the next couple years. Everyone has been writing this off as "no killer apps after 10 years" but there's a lot that's been happening to support adoption, from scaling to improved UX. In the next couple years those should percolat…

What value proposition does crypto offer that existing solutions do not? The only reasonable answer crypto advocates can ever offer is “decentralization” and the lack of trust required. The problem is, most people are perfectly fine trusting their financial institutions. Another commenter was downvoted for saying “No one cares”, but a more precise way of putting this is “the average person doesn’t care about decentra…

If you ascertain some value to the permissionless and self-custodial value of cash. And you see value in the internet's ability to connect the entire world. Then it follows immediately that you see value in cryptocurrency.

Because you cannot use cash to transact globally, and you cannot use digital forms of central bank issued currency permissionlessly or have self-custody. Cryptocurrency gives you all those three properties.

So you must give up something. HNers typically are willing to give up the permissionless and self-custody properties. After all, most of HN audience lives in developed democratic countries where personal freedoms are considered fundamental pillars and protected. But at a minimum you should consider that, not all the world lives under those circumstances. And that there are no guarantees that those circumstances will always be preserved in your cozy first world country. Certainly if you are willing to give them up so easily.

Don't be so quick to assume it cannot happen where you live. One day they may go after some fringe truckers protesting in Canada. Another day they may go after some camgirls earning a living in ways that some executive board of a payment processor considers reprobable. Maybe one day they will tell you in what you can or cannot spend your money or where you can invest it and how much.

Re: Ethereum has blobs. Where do we go from here?

#55

Post by orthecreedence »

ArtTimeInvestor wrote: post #36

All this crpyto technology is fascinating. But is it used for anything? I asked this in an Ask HN today, but got no answer so far: https://news.ycombinator.com/item?id=39852389 It looks like not a single HN reader is using blockchain technology for anything. If nobody is using blockchain technology outside of blockchain projects, what are the reasons we expect that some day we will? What could be a near term use case…

I think it could be used for some kind of permissioned, collectively crowdsourced database that's (mostly) free from the control of a single group of administrators/gatekeepers. I guess kind of like a decentralized wiki.

In my view, blockchains shine where you need auditable global state, bonus points if you don't want central control in your operations (obviously this then kicks the can to the core devs). This use-case is fairly miniscule for most applications, though.

As far as currency, I think they also have their use-cases as well but most people don't want a global audit trail of all their purchases. Things like Monero and Zcash shine here. The value fluctuations are obnoxious, though.

I'm saying this as a big blockchain skeptic. I think most of the things people use them for are silly.

Re: Ethereum has blobs. Where do we go from here?

#56

Post by hot_gril »

pcthrowaway wrote: post #43
ArtTimeInvestor wrote: post #36

All this crpyto technology is fascinating. But is it used for anything? I asked this in an Ask HN today, but got no answer so far: https://news.ycombinator.com/item?id=39852389 It looks like not a single HN reader is using blockchain technology for anything. If nobody is using blockchain technology outside of blockchain projects, what are the reasons we expect that some day we will? What could be a near term use case…

Wouldn't any company using blockchain technology be a blockchain project?

Most of those are scams.

Re: Ethereum has blobs. Where do we go from here?

#57

Post by dinobones »

pa7x1 wrote: post #46

I'm going to leave here a few dashboards that might be interesting: See Ethereum scale day by day (today Ethereum is doing 160 tps, more than 10x its initial throughput): https://l2beat.com/scaling/activity You can now settle your transactions on rollups for mere cents: https://fees-growthepie.streamlit.app/ Neat dashboards regarding blob usage: https://dune.com/hildobby/blobs What's coming... With the current number…

Thank-you for the helpful links. Can you share some resources to learn about data availability sampling?

Also, have folks invented a cheap/fast way of going from L2 L2 without having to do an L1 tx?

I fear that L2s may never be adopted due to network segmentation, but if it's possible for all L2s to interchange with each other cheaply, then it's just as good as L1 IMO.

Re: Ethereum has blobs. Where do we go from here?

#58

Post by hot_gril »

wesselbindt wrote: post #29
hanniabu wrote: post #7

Pleasantly surprised to find this here, especially without all the "tokens are a scam" comments

I'm with you, they feel a bit redundant and uninteresting at this point. Like we get it, a spade's a spade, no reason to go on about it. Imagine people commented "postgres is a database" on every postgres related post.

It's funny how many times in my career I've heard someone say "____ is not a database, it's a datastore" referring to something they made that's basically Postgres with extra steps.

Re: Ethereum has blobs. Where do we go from here?

#59

Post by imchillyb »

ArtTimeInvestor wrote: post #36

All this crpyto technology is fascinating. But is it used for anything? I asked this in an Ask HN today, but got no answer so far: https://news.ycombinator.com/item?id=39852389 It looks like not a single HN reader is using blockchain technology for anything. If nobody is using blockchain technology outside of blockchain projects, what are the reasons we expect that some day we will? What could be a near term use case…

Banks have been using the Ethereum blockchain for behind the scenes bad debt transfers for about seven years now.

Banks don’t want to deal with treasury departments nor do the banks want to be beholden to federal governments regarding prime rates.

Ethereum allows banks to circumvent these types of issues because rates are dictated by banks not by governments and their treasury departments.

Crypto currency is coming soon. It’s only a matter of time and validating processes now.

Re: Ethereum has blobs. Where do we go from here?

#60

Post by ArtTimeInvestor »

doublepg23 wrote: post #53
ArtTimeInvestor wrote: post #48

Earlier quoted context omitted.

Are you using it as internet currency? I don't know anyone who paid anything with it in the last 12 months.

I’m using the Bitcoin Lightning Network to support podcasts every week or so. https://www.jupiterbroadcasting.com/boost/

Interesting.

Reading through the page, that sounds super complicated though.

Couldn't the podcasts simply put a lightning invoice (Which is just a string of text I guess?) on their website with a text like "Support us via Lightning: 1f73ac220b9..."?

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