breaking: ethereum ceo advocates to change consensus rules again and further incentivize centralization.
Sticking to 8192 signatures per slot post-SSF: how and why
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Re: Sticking to 8192 signatures per slot post-SSF: how and why
#12I feel like crypto in general was designed by speculation, and not real use-case. If you read the original bitcoin whitepaper we have veered into a completely different direction. I was fortunate enough to build and operate a payment system, during covid 2019 - 2022. It was able to do everything required to process payment maintain an accurate ledger. Our little team of 6 built it in 9 months. It was centralized yes,…
Valid critique. Thanks. Out of curiosity, in what country do you live?
Thailand
Re: Sticking to 8192 signatures per slot post-SSF: how and why
#13I feel like crypto in general was designed by speculation, and not real use-case. If you read the original bitcoin whitepaper we have veered into a completely different direction. I was fortunate enough to build and operate a payment system, during covid 2019 - 2022. It was able to do everything required to process payment maintain an accurate ledger. Our little team of 6 built it in 9 months. It was centralized yes,…
> As much as I believe in the mission of crypto. What is the mission of crypto and what is the most impactful application to date? If the latter is underwhelming, perhaps that should make one question whether the mission is worthy.
> A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution.
Depends on how you read this, but to me, this is a replacement for fiat, I should be able to pay my butcher / baker, that hasn't happened yet. If i walk to a merchant near my house they will all reject crypto in any form.
Re: Sticking to 8192 signatures per slot post-SSF: how and why
#14My question is when and how we can reduce the gas fee. It’s the big problem now.
OP and Polygon L2s. Fees are like fractions of a penny or max 1-2 cents.
and/or sharding
Re: Sticking to 8192 signatures per slot post-SSF: how and why
#15I feel like crypto in general was designed by speculation, and not real use-case. If you read the original bitcoin whitepaper we have veered into a completely different direction. I was fortunate enough to build and operate a payment system, during covid 2019 - 2022. It was able to do everything required to process payment maintain an accurate ledger. Our little team of 6 built it in 9 months. It was centralized yes,…
The company I work for uses USDC for quite a lot of B2B transactions and settlements. On the tech side it's miles easier to use and build tooling for than things like wire transfers through our bank. Seriously, I've gone back and forth with our big bank for months trying to get some simple API integrations and they're pathetic. For USDC payments, we quickly built a fantastic initiator/approval system and live monitoring on incoming and outgoing payments. I wish all payments were on crypto rails, it would make a lot of jobs easier.
Re: Sticking to 8192 signatures per slot post-SSF: how and why
#16Unfortunately I don’t think that there is no amount of changes to blockchain that would make it useful in any way in the real world. There are way too many negative externalities of crypto. And after nearly 15 years, we should just stop this.
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Re: Sticking to 8192 signatures per slot post-SSF: how and why
#17I feel like crypto in general was designed by speculation, and not real use-case. If you read the original bitcoin whitepaper we have veered into a completely different direction. I was fortunate enough to build and operate a payment system, during covid 2019 - 2022. It was able to do everything required to process payment maintain an accurate ledger. Our little team of 6 built it in 9 months. It was centralized yes,…
The company I work for uses USDC for quite a lot of B2B transactions and settlements. On the tech side it's miles easier to use and build tooling for than things like wire transfers through our bank. Seriously, I've gone back and forth with our big bank for months trying to get some simple API integrations and they're pathetic. For USDC payments, we quickly built a fantastic initiator/approval system and live monitor…
> I wish all payments were on crypto rails, it would make a lot of jobs easier.
Not having any way of reverting transactions definitely makes the jobs of all sorts of shady characters much simpler, that's for sure.
Re: Sticking to 8192 signatures per slot post-SSF: how and why
#18Really interesting to see where the scaling and complexity limits are for blockchains. In this case, it's signature aggregation for the huge numbers of machines (~hundreds of thousands now in Ethereum) that attest to the validity of state. There is a lot of interesting programming + mechanism design + cryptography happening in crypto.
I don't envy the client teams that have to keep up with all these changes. Ethereum really is the most impressive open source project in the world, IMO, because it's a live system with half a dozen different clients written in different languages that all have to interoperate with each other and perform complex cryptography in short timeframes. Not a lot of space for bugs and any breaking change has to have an elabor…
> Ethereum really is the most impressive open source project in the world, IMO, because it's a live system with half a dozen different clients written in different languages that all have to interoperate with each other and perform complex cryptography in short timeframes.
I am curious, are you aware of linux?
Re: Sticking to 8192 signatures per slot post-SSF: how and why
#19My question is when and how we can reduce the gas fee. It’s the big problem now.
OP and Polygon L2s. Fees are like fractions of a penny or max 1-2 cents. and/or sharding
What people normally refer to as "Polygon" is their Matic sidechain, which is not a "layer 2" system. It's its own consensus system with its own stake who can steal funds transferred to it from the main Ethereum network. To be considered a L2 system it has to not require additional economic majority-trust assumptions like that.
See also extended explanation: https://ethereum.org/en/layer-2/ (which doesn't mention systems like payment channels since those are limited to just payments)
Polygon the company has developed a rollup based on zero knowledge proofs but afaik that hasn't been deployed with real money yet.
Re: Sticking to 8192 signatures per slot post-SSF: how and why
#20Earlier quoted context omitted.
The company I work for uses USDC for quite a lot of B2B transactions and settlements. On the tech side it's miles easier to use and build tooling for than things like wire transfers through our bank. Seriously, I've gone back and forth with our big bank for months trying to get some simple API integrations and they're pathetic. For USDC payments, we quickly built a fantastic initiator/approval system and live monitor…
> I wish all payments were on crypto rails, it would make a lot of jobs easier. Not having any way of reverting transactions definitely makes the jobs of all sorts of shady characters much simpler, that's for sure.
Centre (the consortium behind USDC, including Coinbase and Circle) does have a mechanism to freeze shady accounts and accounts used to steal funds. Which has been used to freeze the TornadoCash funds when they were ordered to.