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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?

#311

Post by arandomusername »

talldayo wrote: post #263
arandomusername wrote: post #260

Earlier quoted context omitted.

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.

No, you can test transactions as they would happen on mainnet (tests with mainnet state). Or if you want you can fork mainnet and do your stuff there.

It's absolutely representive of how it looks in deployment. You can test transactions EXACTLY how they would happen on mainnet.

I don't get your second point.

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

#312

Post by arandomusername »

Semionilo wrote: post #276
arandomusername wrote: post #250

Earlier quoted context omitted.

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

You got a letter warning you?

If they had proof you paid you would probably be in jail.

Can still be painful, but way better than if they had proof you bought it.

(Also, if any of your drugs dont arrive or were opened, never order any more)

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

#313

Post by hunter-gatherer »

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

This was my use case for bitcoin years ago when my wife and I had just got married. She is a foreigner and was finishing school, so I'd sometimes send her bitcoin instead of wire. Back then bitcoin was only worth a few hundred, and sending her a 1-3 hundred a month is what she needed. To wire 300 dollars is simply not worth it, at least back then. I'm not sure if it has changed at all now though.

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

#314

Post by rglullis »

PKop wrote: post #294
rglullis wrote: post #242

Earlier quoted context omitted.

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".

I'm really failing to understand you here.

The "beginning of crypto" was with Bitcoin, can we agree to that?

Can we agree that Bitcoin was not claiming to "be a general platform to power distributed applications"? If you disagree, refer to the whitepaper that says "A Peer-to-Peer Electronic Cash System".

Can we agree that before Ethereum each chain was just a fork of Bitcoin, and that the token (aka "the currency") was "sold" to others as something that would have its value determined by supply and demand, but that the blockchain had no use that was not connected to transactions related to the token? As in: fundamentally speaking, Bitcoin, Litecoin, Dogecoin, Bitcoin Gold, Bitcoin Cash... are the same?

Can we agree that Ethereum (the blockchain) enables distributed applications where people do not care at all about the price of Ether? E.g, I can host files on Storj and pay with credit card, the people hosting data are being paid in Storj's token, and everyone involved in this economy is directly using the Ethereum blockchain, but don't need to hold any Ether at all?

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

#315

Post by Salgat »

monero-xmr wrote: post #295
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...

Obviously, the whole point is to tease all this serious discussion over something that amounts to a toy with almost no practical application.

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

#316

Post by lern_too_spel »

hot_gril wrote: post #266
MichaelZuo wrote: post #251

Earlier quoted context omitted.

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 s…

That's what SAAS is for. Cheaper and easier than building NFTs on a blockchain and integrating them into your game.

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

#317

Post by defiamazing »

DennisP wrote: post #299
defiamazing wrote: post #272

Earlier quoted context omitted.

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…

Having an economic model doesn't make it not a memecoin. LINK has an economic model and most would agree that there's no reason for it to exist other than to dump on retail. The burn is there in large part to enshrine ETH so that investors can dump on retail, otherwise fees could be paid in other ways. It provides no liquidation or dividend rights. The closest thing to that is rights to MEV, which the base fee controller actively prevents. Value is speculative and if it went to zero then the network would completely die unless it forked to disable the burn.

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

#318

Post by wslh »

skybrian wrote: post #307
wslh wrote: post #284

Earlier quoted context omitted.

The problem is that this gospel has been said for almost a decade now and despite, literally, billion dollars of assets that Vitalik has, and others flowing this is not happening. Not saying that this could not happen as an hypotheses but cryptocurrency foundations are far far from business execution basic practices. As an insider I can say that most money flows to a very small group of people and the governance is n…

It does seem slow, but they did manage the proof-of-stake transition pretty smoothly despite delays and widespread skepticism, so I give them some credit for that. I have no idea what Vitalik is funding. Do you?

He was talking about proof-of-stake since the beginning and every year was talking about the next year. Not blaming Vitalik himself but the whole thing, it is bad to give false expectations.

Another thing, no pun intended, is that the proof-of-stake upgrade maintains prohibitive the network fees for transactions while other technologies have low fees.

> I have no idea what Vitalik is funding. Do you?

The funding of projects is through the foundation but if I remember well the original people and contributors received the ~50% of the total ethers until now.

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

#319

Post by rglullis »

willmadden wrote: post #304
rglullis wrote: post #258

Earlier quoted context omitted.

Bitcoin original plan was about "digital cash", it was fully focused on permissionless payments, but that's about it.

The whitepaper's plan wasn't, but that's not true at all for Bitcoin itself. Satoshi included OP_RETURN which allowed smart contracts - mastercoin being the first L2 (on Bitcoin). He also wanted to increase the blocksize to allow scaling. Vitalik started Ethereum because the "core devs" (bank incumbent funded usurpers) refused to cooperate. This is also the reason the original maintainers like Gavin and Mike Hearn sp…

> original maintainers like Gavin and Mike Hearn split off to Bitcoin Cash and other alt-coins.

So what developments in Bitcoin Cash have been made in that direction? Why is is that all of the "ideological" forks of Bitcoin do nothing but tweak some parameter size in the network settings and do not go beyond that?

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

#320

Post by leashless »

7. The blockchain is now at a stage in its development equivalent to where the internet was in or around 1995. The internet was unstoppable in 1995 and blockchain technology is unstoppable now. It will become ubiquitous in all major industrial and financial sectors, simply because it allows for the immutable recording of data, thereby reducing friction in commercial and consumer transactions and obliterating the scope for dispute as to what has occurred.

8. As the Master of the Rolls and Head of Civil Justice in England and Wales, I hold an office that pre-dates modern trade in derivatives and reinsurance, even steam engines, powered flight, and certainly the internet. I am particularly and obviously concerned about the reputation and development of English law and the jurisdiction of England and Wales. 9. Many people do not realise that English law governs trading in €600 trillion of OTC derivatives annually, in €11.6 trillion in metals trading, in £250 billion in M&A deals, and in £80 billion in insurance contracts every year – just to take a few examples. My hope is that English law will prove to be the law of choice for borderless blockchain technology as its take up grows exponentially in the months and years to come.

https://www.judiciary.uk/wp-content/uploads/2022/02/Speech-M...

Case closed.

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