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It costs $436 to deploy a smartcontract on Ethereum

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Re: It costs $436 to deploy a smartcontract on Ethereum

#71

Post by inter_netuser »

satellite2 wrote: post #64
inter_netuser wrote: post #48

Earlier quoted context omitted.

is there a standard eth cookbook that you are referencing? proxy and proxy admins, gasless forwarders? is there a standard body of knowledge compiled somewhere abuot this?

Gasless is made possible by meta transactions, a proposal from last year: https://eips.ethereum.org/EIPS/eip-2771 For which Openzepplin proposes documentation and an implementation https://docs.openzeppelin.com/contracts/4.x/api/metatx https://github.com/OpenZeppelin/openzeppelin-contracts/tree/... Proxied versions of standard contracts are also proposed by Openzeppelin: https://docs.openzeppelin.com/upgrades-plugins…

> Swiss contract reference and proposes one: https://github.com/CMTA/CMTA20

Amazing, someone went thru the headaches of trying to make ERC20 compliant with some local laws, wow, I'm just speechless.

I suppose there can be some value in unlocking company equity, but placing freezable contract on a public blockchain? I suppose that might make audits easier or something. However, might as well put full trust into the person with the freeze key, would likely be a lot cheaper.

Every stablecoin has the freeze function so far, and that underpins DeFi, which has become sizable. I'm probably just dumb.

Re: It costs $436 to deploy a smartcontract on Ethereum

#72

Post by 123pie123 »

hobofan wrote: post #32
123pie123 wrote: post #24

Earlier quoted context omitted.

as a complete newbie to this, where does the code actually execute? what's the code writen in? whats stopping malicious code running?

> where does the code actually execute? what's the code writen in? On every Ethereum node that verifies it. It's usually written in Solidity and compiled to EVM (Ethereum Virtual Machine) bytecode (so it can also be written in other higher-level languages). > whats stopping malicious code running? It's sandboxed and since it's limited to the EVM, there isn't really any "malicious" code that could break out of the EVM…

thanks - I'll do some research on this

if the code is sandboxed, then what useful things can it do?

Re: It costs $436 to deploy a smartcontract on Ethereum

#73

Post by inter_netuser »

anizan wrote: post #66
inter_netuser wrote: post #43

Earlier quoted context omitted.

And Ethereum didn't have a presale of 70%+ of the supply? That somehow didn't lock-in the captable? ETH foundation (which is completely non-transparent btw) doesn't control the trademark and employs go-eth team? I guess 30% for miners is a nice alibi.

You have incremental supply on ETH available to those who deploy mining assets. This broadens ownership through dilution. Solana has had multiple funding rounds and not just one. They can continue to have as many funding rounds as they like. There will be never be dilution of Solana holders to allow for decentralisation. To earn coins through staking you need to be a preexisting holder. Running a node doesn't make ec…

So I'm guessing starting a brand new EVM chain and mine/stake from scratch is most optimal to broaden ownership then?

Time to scrap ETH and start from scratch?

Re: It costs $436 to deploy a smartcontract on Ethereum

#74

Post by satellite2 »

inter_netuser wrote: post #71
satellite2 wrote: post #64

Earlier quoted context omitted.

Gasless is made possible by meta transactions, a proposal from last year: https://eips.ethereum.org/EIPS/eip-2771 For which Openzepplin proposes documentation and an implementation https://docs.openzeppelin.com/contracts/4.x/api/metatx https://github.com/OpenZeppelin/openzeppelin-contracts/tree/... Proxied versions of standard contracts are also proposed by Openzeppelin: https://docs.openzeppelin.com/upgrades-plugins…

> Swiss contract reference and proposes one: https://github.com/CMTA/CMTA20 Amazing, someone went thru the headaches of trying to make ERC20 compliant with some local laws, wow, I'm just speechless. I suppose there can be some value in unlocking company equity, but placing freezable contract on a public blockchain? I suppose that might make audits easier or something. However, might as well put full trust into the pe…

> However, might as well put full trust into the person with the freeze key, would likely be a lot cheaper.

It's easier to trust someone when everything they do is public.

> make ERC20 compliant with some local laws, wow, I'm just speechless.

Switzerland is one of the leading actor in blockchain, with rapidely adapting and welcoming regulations (the first "crypto law" was enacted last year) and a fast growing ecosystem (https://cryptovalley.swiss/ https://trustvalley.swiss/ https://www.cmta.ch/).

It kind of make sense if you think about it, as crypto really is the future of banking, that the first banking country is taking the lead.

So yes a lot of people are working on it and a lot of implentations will come from Switzerland. It's also convenient that the Swiss law is very easy to apprehend, is translated in many languages and is often taken as a reference in international law/contacts as it's a no bullshit law without spectacular outcome in litigation.

Re: It costs $436 to deploy a smartcontract on Ethereum

#75

Post by mgbmtl »

ikt wrote: post #65
malikNF wrote: post #49

Earlier quoted context omitted.

Why is this comment so heavily down-voted? The parent provides an alternative blockchain, that has been really well engineered by a world class team of developers. Is decentralized, has the ability to write smart contracts, has already implemented some of the features eth 2.0 is promising, currently sitting 3rd place in terms of market-cap right behind Ethereum (which we are talking about here). Some of you people wh…

Because it's like saying 'I'm having problems with windows, how do I fix it' and someone coming along and saying 'use linux'. I don't find it that helpful.

It's more like "this is how Linux fixes it". And then because operating systems share a lot of the same principles, you can see whether a Windows solution exists, or if Linux is a better fit.

Re: It costs $436 to deploy a smartcontract on Ethereum

#76

Post by koonsolo »

ikt wrote: post #65
malikNF wrote: post #49

Earlier quoted context omitted.

Why is this comment so heavily down-voted? The parent provides an alternative blockchain, that has been really well engineered by a world class team of developers. Is decentralized, has the ability to write smart contracts, has already implemented some of the features eth 2.0 is promising, currently sitting 3rd place in terms of market-cap right behind Ethereum (which we are talking about here). Some of you people wh…

Because it's like saying 'I'm having problems with windows, how do I fix it' and someone coming along and saying 'use linux'. I don't find it that helpful.

When my Windows 95 kept giving me blue-screens multiple times a day, it actually did help.

Re: It costs $436 to deploy a smartcontract on Ethereum

#77

Post by nemetroid »

ikt wrote: post #65
malikNF wrote: post #49

Earlier quoted context omitted.

Why is this comment so heavily down-voted? The parent provides an alternative blockchain, that has been really well engineered by a world class team of developers. Is decentralized, has the ability to write smart contracts, has already implemented some of the features eth 2.0 is promising, currently sitting 3rd place in terms of market-cap right behind Ethereum (which we are talking about here). Some of you people wh…

Because it's like saying 'I'm having problems with windows, how do I fix it' and someone coming along and saying 'use linux'. I don't find it that helpful.

The linked series of tweets makes a comment on the state of things in Ethereum, there’s no ”how do I fix this problem” asked. The poster even calls it beautiful.

Re: It costs $436 to deploy a smartcontract on Ethereum

#78

Post by dmitriid »

I remember vividly how sometime ago (probably even today, for any value of `today`) it was clear to everyone how smart contracts where revolutionising everything, especially in communities with poor access to banking, with issues with corruption etc.

Just for $436 per contract...

Re: It costs $436 to deploy a smartcontract on Ethereum

#79

Post by proto-n »

soco wrote: post #70
pa7x1 wrote: post #58

Earlier quoted context omitted.

> But storing things off-chain kinda kills the entire concept, doesn't it? If I hack into DigitalOcean I can mess everybody's NFTs by tampering with one database. It's not about storing off-chain, you compute off-chain and post to the network a cryptographic proof of the computation. Rollups provide something akin to lossless compression proofs of computation. You execute the computation off-chain with high throughpu…

NFT definition is stored off-chain. Which means the security you defined on the chain protects only the URI to a random file or some database - which can be modified any time DigitalOcean or the hacker decides to modify. So you're right, we can create quickly and safely keys to the metal front door, while the back door is propped with a stick.

What you are saying is that an certificate of authenticity is useless because you can burn the artwork with a torch. Those two things are mostly unrelated.

Re: It costs $436 to deploy a smartcontract on Ethereum

#80

Post by proto-n »

fastball wrote: post #28
proto-n wrote: post #15

Earlier quoted context omitted.

Proof of stake has little to do with transaction costs. The roadmap to scaling is sharding + layer 2 tech (optimistic and zk rollup, some of it is already live like arbitrum).

PoS is much cheaper computationally than PoW so it absolutely does increase the throughput of a network.

Not really, the computational cost of PoW is not related to the throughput. PoW is not the work that the nodes put into processing transactions, PoW is by definition a useless computation, and it being useless is neccessary for the game theory behind it to work.

You can have the same amount of PoW on very little or very high throughput networks, the two are almost completely orthogonal.

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