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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?

#261

Post by everfree »

earnesti wrote: post #194
Zetaphor wrote: post #179

Earlier quoted context omitted.

Just because you're unfamiliar with the technology doesn't mean it's nonsense. The failing is yours in actually looking into these things rather than trying to be funny. If you explain to most people how a TLS handshake works it will sound to them as equally nonsensical. This technology is complicated, this article is targeted at an audience that understands the technology, not one that needs a "My first introduction…

TLS handshake actually makes sense for average programmers who understand basic cryptography. Ethereums problem is that it is a badly designed clusterfuck. The newer blockchains will likely take over.

Ethereum should also make plenty of sense to an average programmer who understands basic cryptography. The concept of a distributed virtual machine shouldn't be difficult to grasp.

You could dive deeper into either of the topics you mentioned and start losing people - for example how QUIC carries a TLS handshake, or why enshrined proposer-builder separation is important to Ethereum. All that means is that both protocols hide complexity under the surface.

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

#262

Post by arandomusername »

searchableguy wrote: post #191
medo-bear wrote: post #114

Earlier quoted context omitted.

What parts of the world? In non developed countries bank fees are actually higher than in the West. In Bosnia a most basic bank account costs about $3 per month, or 60 Ethereum transactions (most people usually have 10 - 20 transaction per month). For paying bills banks usually charge a commission fee of 1%. And if you want to send money to someone 50 kms away but across the border the fee is $20 with few days wait f…

Most major developing countries in Asia have p2p instant payments and bank accounts for free or with minimum balance requirement. UPI (Indian market) launched cross border support with a couple countries starting this year. 118 billion transactions happen via UPI annually. I do think there is some niche market where ethereum payments will shine but hard to beat free and instant systems already in place at far bigger…

Which is great when sending to someone in the same country, but we live in a globalized world. Sending between countries (except within EU) is best done using crypto.

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

#263

Post by talldayo »

arandomusername wrote: post #260
talldayo wrote: post #210

Earlier quoted context omitted.

> At it's core is a distributed world computer but all anyone knows about is money.exe because this stuff is immensely complex. Alternatively, because the only way to use the aforementioned distributed world computer is to engage with money.exe and buy more CoinTokens. Imagine all the kids out there who will be delighted to learn a pay-per-use code interpreter. "Hey mom, I need your credit card to cover the gas while…

How did you not realize that one can run/evaluate code without actually broadcasting it? All you need is access to a node (plenty of public ones) and you can "simulate" any transaction(code) you would like.

Testing a dapp off the mainnet is like ensuring your website works on localhost. It will find some issues, but it's not representative of how it will look in deployment.

In any case, for actual usage it should surprise nobody why everyone conflates Ethereum with money. No, your L2 chain does not qualify as an official solution.

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

#264

Post by arandomusername »

defiamazing wrote: post #222
smoovb wrote: post #169

Earlier quoted context omitted.

My (non-crypto) company uses USDC daily on L2 Arbitrum for international settlement, and have seen the fees drop to a few cents per transaction with the release of blobs. We have replaced the need for wires/TransferWise/Revolut on several of our routes.

There is absolutely no reason for USDC to be on a blockchain other than to interact with DeFi. Once DeFi hype dies USDC will be outcompeted by a centralized solution. It's multisig controlled anyway so it's the same thing.

Sending USD across countries, e.g from EU to US, is a LOT easier and faster with USDC than any other solution out there.

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

#265

Post by bawolff »

Destiner wrote: post #218
bawolff wrote: post #142

> Basically, Ethereum is no longer just a financial ecosystem. It's a full-stack replacement for large parts of "centralized tech", and even provides some things that centralized tech does not (eg. governance-related applications). And we need to build with this broader ecosystem in mind. I have respect for ethereum. It seems like one of the few cryptocurrency projects actually trying to push those ideas as far as th…

Here's an elevator pitch. Your twitter/facebook/github account gets banned, what do you do? With farcaster/lens/radicle, it's impossible.

Join mastadon?

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

#266

Post by hot_gril »

MichaelZuo wrote: post #251
hot_gril wrote: post #236

Earlier quoted context omitted.

Interop with other games isn't the issue here.

So then what is the issue?

It's what I said above, it's a lot of work for a new game to create/maintain its own collectibles marketplace that people can trust, and even a well-established game like Counterstrike doesn't properly support third-party trades. Ethereum provides all that out of the box with NFTs.

There's also the issue that Valve controls all the assets, but that's mostly a moot point because they control the game anyway. I guess someone could honor NFT skins in a separate game if they really wanted, but that's getting theoretical.

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

#267

Post by MadnessASAP »

vernon99 wrote: post #129
hot_gril wrote: post #110

Earlier quoted context omitted.

But you're sending that $100 from another computing device, and if you're not trusting a bank-like entity to hold the cryptocurrency for you, you're responsible for securing all your money on that device without locking yourself out. On the other hand, having some money outside a bank is nice. I've had them freeze my assets before just cuz they felt like it, until I spent a whole day telling them to fix it.

Having a couple hardware wallets in different places + a paper backup split in a couple pieces gives you enough redundancy not to worry about this. Source: my own experience of close to 10 years now.

Unfortunately I will never be willing to entrust my financial safety solely to an algorithm.

An algorithm cannot be reasoned with, it cannot understand that your house burned down and destroyed your ID. It cannot accept liability for it's actions.

If I lose my bank card I go to a branch, verify my ID, and get a replacement. The bank is liable if they allow somebody other then me access to my accounts, regardless of how convincing the fraudster might have been.

Source, been using banks for 30 years now.

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

#268

Post by justwool »

danpalmer wrote: post #163
medo-bear wrote: post #114

Earlier quoted context omitted.

What parts of the world? In non developed countries bank fees are actually higher than in the West. In Bosnia a most basic bank account costs about $3 per month, or 60 Ethereum transactions (most people usually have 10 - 20 transaction per month). For paying bills banks usually charge a commission fee of 1%. And if you want to send money to someone 50 kms away but across the border the fee is $20 with few days wait f…

In many parts of the world people are basically cash-only and don't pay fees for handling money most of the time. The "unbanked". This is the market Ethereum wants to serve. Also I'd challenge 10-20 transactions per month. I think in many near cash-less societies it might be closer to 5 per day.

5 per day?

My budget is $20 dollars a day.

Lmao people are so out of touch with reality.

5 transactions a day? For what? Honestly can I get off this train.

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

#269

Post by hot_gril »

valzam wrote: post #229
hot_gril wrote: post #202

Earlier quoted context omitted.

It took work by a large parent company. And I don't know how third-party websites can trade those, but it must mean either Valve is managing an API or people are doing something hacky to work around that.

They can't. There are third party websites but there is no way for them to initiate trades. They work around this bysome crazy peer-to-peer trust-me-bro scheme.

That's what I was expecting.

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

#270

Post by everfree »

danpalmer wrote: post #160
bawolff wrote: post #135

Earlier quoted context omitted.

If their vision is "applications" it feels like any price is too high. Would you sign up for hn if it cost 5 cents? Even though that is nothing in terms of money (for most of us), the friction of money actually being involved in and of itself probably makes it not worth it. Especially when its just a silly internet thing.

It's not just sign up though, it's posting comments, upvoting, etc. Every "write" becomes a transaction, many with their own tokens. > the friction of money actually being involved ... makes it not worth it This is it. There are very few people who live for this level of financialisation.

I think it's helpful to realize that most everything on the internet is already financialized by default. Whenever you post a comment, upvote, or "write", it costs some company somewhere an amount of money to maintain the marginal amount of server capacity required to process your request. And if you aren't paying for the product, then you are the product of course (ads).

So blockchains don't necessarily financialize things that aren't already financialized, they just tend to make money flow in a more direct way from a group of people using a service to a group of people hosting/providing it. Instead of paying using a micropayment of attention that gets monetized through a complex and often bespoke advertising arrangement, you can pay using a micropayment of a recognizable asset that has actual market value.

Personally, if I could click a single Apple-pay-like button in my browser to attach say 0.5 cents of postage to this Hacker News comment to get it to post, I doubt I would think twice about it. In fact, I would probably participate more confidently knowing it's a deterrent for bots (less of a problem for Hacker News, but a huge problem on Reddit and Xitter).

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