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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?

#271

Post by everfree »

SideburnsOfDoom wrote: post #193
tootie wrote: post #164

Earlier quoted context omitted.

In the many, many years they have spent building a pile of gibberish tech, traditional finance has begun transitioning to T-0 settlement on centralized platforms. FedNow is going to replace ACH and wires and allow 24/7 real-time transactions.

> FedNow is going to allow 24/7 real-time transactions. Following in the steps of what EU and UK did few years ago. (1) And which always made this cryptocurrency fast settlement stuff sound laughable - like they're describing just what a regular bank account does, and it's supposedly their special magic, so what? People need to look outside of the USA to understand the state of the art. You can even find these system…

> People need to look outside of the USA to understand the state of the art.

And yet people need only to look down at their smartphone, no matter where in the world they are located, to understand the state of the art in public ledgers.

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

#272

Post by defiamazing »

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.

The blockchain's security depends on native token value and the native token is a memecoin with no backing and if there's a speculative dump then the network has no security, so no not quite impossible.

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

#273

Post by maxcoder4 »

shuntress wrote: post #201
maxcoder4 wrote: post #188

Earlier quoted context omitted.

As the OP said, the cryptocurrency you're looking for is Monero.

"Bitcoin but its anonymous" does not make Monero a real currency. I guess it helps that its value is relatively stable. But I still can't realistically use it. I can't walk in a store, buy something, then pay with Monero which is obviously disqualifying on it's own. But in addition to that, if I want to give a friend some Monero I would have to walk them through making a new account with some new app which they won't…

I can't walk into a store and pay with USD either. It doesn't mean USD is not a currency, it's just not usually accepted by stores in my country.

I use Monero semi-regularly to pay for things online (usually privacy products, because sadly nobody is interested in selling me groceries in exchange for xmr). You can absolutely buy things with it.

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

#274

Post by everfree »

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.

Why is it that no other solution has been developed in the 40 years of the internet, but you believe now is a particularly ripe time for one to pop up?

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

#275

Post by defiamazing »

arandomusername wrote: post #264
defiamazing wrote: post #222

Earlier quoted context omitted.

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.

That's because it has regulatory approval (for now). It's not because of a blockchain.

You can start the thought experiment by asking why USDC is on Ethereum and other popular chains rather than own private blockchain. People could make payments faster. Fees would be lower or more likely zero.

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

#276

Post by Semionilo »

arandomusername wrote: post #250
coffeebeqn wrote: post #187

Earlier quoted context omitted.

So you pay with monero but you still need to give them an address to ship to which some probably store somewhere where the police might eventually find it ? I guess depending on the local police the chances of that leading to any trouble are lower than getting stabbed by a tweaker when you go out into the community to purchase your stuff

Would probably be a lot harder for police to do anything since you could argue someone else did it in an attempt to get you in trouble or whatever.

Yes you can argue like this and I thought about it when I got a letter.

The issue is that if it's too much they will still raid your place even if the evidence might not be that clear and they might ignore politicians.

Good luck defending this, it will still be annoying as fuck If your PC is gone for month

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

#277

Post by golergka »

Version467 wrote: post #127

As far as I can tell, the only cryptocurrency that actually delivers on its name (i.e. being used as a currency) is Monero. Sure, it's all drugs and stolen credit cards, but it does undeniably solve a real world problem for its users instead of just being used as a vehicle for speculative investment. With that said, I think if anyone comes up with a "killer-app" for crypto, then it'll be on the Ethereum chain. They s…

> As far as I can tell, the only cryptocurrency that actually delivers on its name (i.e. being used as a currency) is Monero.

In the last two weeks I've paid to people who cleaned my air conditioning, my girlfriend's nails, our lawyer, for delivery of some goods from US, for food delivery, for a sightseeing tour, and for exchange to local currency (delivered to my home) — all in USDT. I've also got USDT from a friend for booking Airbnb for him (he couldn't do it on his own account because of reasons). At this point, most of services in local community are advertised with payment in USDT first: via binance and bybit internal transfer, or just on trc-20.

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

#278

Post by mattdesl »

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…

Lots of that advanced math research finds its way into practical engineering (cryptography, digital media, compression, physics, AI, and so on). The average layperson does not care about mathematics, period.

You may see a similar situation one day: some application might move to settle their economic value on Eth L2 rather than Stripe, eg for more control or lower fees. To the average layperson, they wouldn’t know/care about how the app works under the hood.

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

#280

Post by everfree »

coffeebeqn wrote: post #190
orthecreedence wrote: post #55

Earlier quoted context omitted.

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-c…

Shared append only, very slow database. It’s a very specific setup but maybe there’s some scenario for it.

I think a shared, "slow" database could be useful for property deeds. Give the state admin access to override the typical transfer process in case of theft, and then you're left with a 24/7 accessible public database of property deeds, where the current owner and full history of a deed (transfers, liens, easements) can be accessed and verified by any joe with a computer.

It could be useful for professional licenses, too. Everyone could have a verifiable history of someone's professional license - when it was issued, when it was revoked, again mathematically verifiable. You could be sure that someone's record was never changed or deleted without leaving an audit trail.

Though to be fair, the important part of this is the chain of cryptographically signed and timestamped events. It could work without strictly being a blockchain. You could imagine something that behaves more like a git repository with a flat file database in it.

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