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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?

#61

Post by maxcoder4 »

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 use it everywhere where it's an option (so not very often, let's say once a month). I also only use privacy services (vpn for example) where you can pay using cryptocurrency, otherwise what's the point

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

#62

Post by chrisco255 »

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…

Adding to this list, for getting average 24 hour costs for rollups: https://gasfees.io

The "growthepie" link above wasn't working in my browser due to "lack of WebGL support".

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

#63

Post by ArtTimeInvestor »

imchillyb wrote: post #59
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 s…

How can a bank transfer debt via Ethereum?

Isn't "debt" a contract between the bank and a user? How do you transfer that and to whom?

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

#64

Post by maxcoder4 »

imchillyb wrote: post #59
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 s…

That sounds suspicious. Maybe a few years back out would work, but now cryptocurrency is pretty regulated.

And at the same time it's not battle tested. Any CFO who signs of on something like that risks shareholder fury when anything goes wrong.

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

#65

Post by everfree »

dinobones wrote: post #57
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.

This post from the ethresearch forum goes over data availability sampling (DAS) in detail.

https://ethresear.ch/t/from-4844-to-danksharding-a-path-to-s...

To transfer assets from L2 to L2, of course the naive implementation is to use a centralized intermediary, of which there are currently many that are reasonably priced. There are ways to go between zk-L2s without any central broker in theory; I’m not sure whether that’s also true of optimistic-L2s.

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

#66

Post by dboreham »

hanniabu wrote: post #22
dboreham wrote: post #15

Earlier quoted context omitted.

Faster, cheaper, possibly ceases to exist. If that happens there's (supposedly) a way for you to slowly get your funds back by exiting on L1. The blob stuff is about "ok if that's a thing how do I prove to some L1 contract that I own these L2 funds?". The actual proving mechanism is either a) too amazing for me to understand or b) not quite figured out yet. But first blobs..

> The actual proving mechanism is either a) too amazing for me to understand or b) not quite figured out yet. Rollups use either optimistic proofs or zero knowledge proofs for settlement > The blob stuff is about "ok if that's a thing how do I prove to some L1 contract that I own these L2 funds?". It's about data availability > there's (supposedly) a way for you to slowly get your funds back by exiting on L1 They're…

> Rollups use either optimistic proofs or zero knowledge proofs for settlement

Can you post an example of a code that implements either of these? (the fraud proof, not the happy path)

I ask because in the past when I researched L2s such as Optimism, that code was "to be developed".

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

#67

Post by throw_e5caa2819 »

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…

(made a throwaway for this)

I have personally used cryptocurrency (Monero) to buy small quantities of substances for personal use from darkweb marketplaces a while ago.

This has been a great experience, I think the system of public vendor reputation , reviews, user discussions, independently published test results etc. adds a significant layer of safety to this process compared to random local 'street' type transactions of this sort.

Whether you approve of this or not, crypto is a very important layer in this system, I feel like this is the only actual use it has currently, although it's obviously not something crypto advocates like to advertise.

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

#69

Post by chrisco255 »

dinobones wrote: post #57
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.

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

There are bridge providers like Connext (https://www.connext.network/), Hop (https://portal.arbitrum.io/projects/bridges-and-on-ramps?pro...), LayerZero (https://layerzero.network/) etc that provide liquidity across L2s to make it simple and cheap for common assets like USDC, ETH, etc.

Attempts to do this trustlessly without relying on a liquidity provider do exist, but they're not mature enough to mention yet. They usually rely on zk proofs to validate that an asset was bridged from one chain to another.

L2s are presently already supporting more activity than L1, with 4 L2s regularly doing more TPS than L1. Agreed that fragmentation is a concern, but I think we'll get there soon where the UX is abstracted away for users and the assets flow cheaply.

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

#70

Post by bee_rider »

everfree wrote: post #42
bigyikes wrote: post #33

Earlier quoted context omitted.

Upvotes and downvotes on Hacker News. It’s a joke with some truth.

Oh. That's an uninteresting way to "back up" a statement imo. Crowd wisdom is often wrong. "Please don't comment about the voting on comments. It never does any good, and it makes boring reading."

Just a note, the person you’ve responded to is different from the person who made the “joke,” (if that is the right interpretation. I don’t really get the joke, fwiw).

It doesn’t really make sense anyway; if the joke is that the comment is “backed” by the fact that HN users are upvoting it—comment scores aren’t visible to people other than the posters, right? So all we know is that it wasn’t smote into the hidden state.

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