Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Ethereum has blobs. Where do we go from here?

vitalik.eth.limo

Post reply on HN
Print view View original

291–300 of 515 posts

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

#291

Post by darby_eight »

scyclow wrote: post #196
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…

People love shitting on NFTs, but there's still a really good art scene based on NFTs and smart contracts. And once you have digital objects that you actually care about, all the web3 infrastructure is surprisingly useful.

> there's still a really good art scene based on NFTs and smart contracts

I'm still not quite getting the idea here—these assets only really "exist" in web3 apps, right?

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

#292

Post by everfree »

ericyd wrote: post #285

By far my biggest takeaway from skimming the first ~10-15 paragraphs is that there is significantly too much jargon in the crypto space.

This is a highly technical article written by a protocol researcher to be read by other protocol researchers and implementers. I'm not really sure what level of jargon you expected.

This article is akin to an aircraft architect writing about engine design to engine manufacturers - there's no reason to spell things out that the target audience already knows well.

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

#293

Post by monero-xmr »

abnercoimbre wrote: post #281
maxcoder4 wrote: post #273

Earlier quoted context omitted.

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.

> usually privacy products Could you offer examples? Straight-up curious.

https://kycnot.me/

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

#294

Post by PKop »

rglullis wrote: post #242
PKop wrote: post #181

Earlier quoted context omitted.

>the point is not to just hodl, but to create a core technology that can enable different applications This is has been said about every coin since the beginning of crypto.

Absolutely not. Bitcoin's initial narrative was "digital cash", i.e, digital payments and microtransactions. Given that transaction costs became prohibitive, it switched to "digital gold", or store of value, meaning that Bitcoiners defend the idea that Bitcoin's reason d'être is just to hold it . I've never seen Vitalik or any of the core Ethereum developers talking about the value of Ether being a fundamental metric…

You gave 2 examples supporting exactly what I just said. And there are 1000s of other ones that encompass "crypto".

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

#295

Post by monero-xmr »

EMM_386 wrote: post #82

Hmm ... "proto-danksharding" which activated the "blobscriptions protocol" so that blobs are "much cheaper than calldata", all of this helping it to become an "L2-centric ecosystem". In the end, this leaves them "not confident enough in the complex code of an optimistic or SNARK-based EVM verifier". I'm sold ... just tell me where to transfer the money.

The only reason it's foreign to you is because you are not familiar with any of the technology. It's no different that having no idea about LLMs or ML or transformers etc., or if you are not a programmer than being confused by arrays and recursion and TCP/IP...

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

#296

Post by defiamazing »

everfree wrote: post #290
defiamazing wrote: post #282

Earlier quoted context omitted.

Because there's not enough demand to justify the regulatory headache for most types of international payments, unless you have the added benefit of interacting with DeFi protocols during a massive shitcoin bubble.

Sorry, but I thought you said in your last comment that you believe USDC will be outcompeted by a centralized solution. Do you believe that, or do you believe that there is not enough demand to justify the regulatory headache of launching a centralized solution? Those seem to me to be opposing viewpoints.

Yes, because Circle will either start using whitelists at which point it will shrink to the point where competition is trivial or it'll just shut down completely. If for some reason there's massive demand in the next decade for sub-minute international money transfers then surely CashApp will get back on that. There's just not, existing slower solutions work fine in most cases and not enough people need something better.

Also important to emphasize, I know I said it'll be outcompeted by a centralized solution. But actually USDC is centralized because it has a multisig, and all of its contracts are 100% upgradeable. So it's like a very inefficient centralized solution that really doesn't belong on a blockchain or at least not a popular one with high fees. But again, DeFi protocols exist, and people want to swap USDC for crypto hedge funds to frontrun.

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

#297

Post by [deleted] »

evantbyrne wrote: post #249
shuntress wrote: post #207

Earlier quoted context omitted.

You could maybe call it a technical issue or an issue of adoption but the fact is that no one is scanning Monero wallet QR codes to buy coffee.

Capital gains tax is not a technical issue per se. People also don't buy coffee with wire transfers, but nobody says wire transfers are a failure. btc/eth are better at doing what wire transfers were designed to do. The point is the tech is much better than people who have been sleeping on crypto seem to realize

[deleted]

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

#298

Post by DennisP »

tootie wrote: post #164
Mahn wrote: post #74

Key quote from the article: > Many have argued that the lack of large-scale applications for the past ten years proves that crypto is useless. I have always argued against this: pretty much every crypto application that is not financial speculation depends on low fees - and so while we have high fees, we should not be surprised that we mainly see financial speculation! > Now that we have blobs, this key constraint th…

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.

Let me know when FedNow allows me to deploy a smart contract that moves dollars around according to whatever business rules I like.

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

#299

Post by DennisP »

defiamazing wrote: post #272
Destiner wrote: post #218

Earlier quoted context omitted.

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.

ETH is not a memecoin and it has a real economic model. It's used to pay transaction fees, which are mostly burned. There's a small amount of issuance but most of the time that's less than the burn, so the supply shrinks. You can model it as a company, where fee burn is revenue, issuance is cost, the net is earnings, and earnings are distributed to ETH holders like a company doing stock buybacks. You can calculate a PE ratio; when I checked sometime last year the PE was around 100.

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

#300

Post by ericyd »

everfree wrote: post #292
ericyd wrote: post #285

By far my biggest takeaway from skimming the first ~10-15 paragraphs is that there is significantly too much jargon in the crypto space.

This is a highly technical article written by a protocol researcher to be read by other protocol researchers and implementers. I'm not really sure what level of jargon you expected. This article is akin to an aircraft architect writing about engine design to engine manufacturers - there's no reason to spell things out that the target audience already knows well.

extremely fair point. I was kinda trying to be funny but I also think I misunderstood the audience of the article
Post reply on HN