This seems more of a product to keep their investors happy than it does actually improving the crypto ecosystem. Feels like you lose the decentralization benefits of crypto when you are doing everything over a centralized service. I don't know how much Coinbase have abstracted things, but there's probably a fair amount of lock-in here too.
Coinbase Cloud
71–80 of 176 posts
Re: Coinbase Cloud
#72Re: Coinbase Cloud
#73Earlier quoted context omitted.
If all your customers get sim swapped because you offered 2FA over SMS then it's your fault as a service provider.
Couldn't we shift the fault back a step? If it's so easy to SIM swap people, shouldn't the telecoms be liable for damages to their customers in the event of a SIM swap?
I agree - you are right, we absolutely should. But if customers are using Coinbase, and people sue and get successfully judgments against Coinbase for using insecure authentication media, then maybe Coinbase can go ahead and initiate lawsuits against the telecoms if they are feeling the heat.
Consumer complaints against ISPs/telecoms have been notoriously slow, unresolved with no real improvements - even before the creature Ajit Pai crawled out from under his rock, shockingly enough.
Re: Coinbase Cloud
#74Didn't Microsoft Azure's blockchain platform fail? It was shutdown earlier this month [1]. How is this different and/or better? [1] https://www.siliconrepublic.com/enterprise/microsoft-azure-b...
I think Microsoft and others like IBM failed to “get it”. They tried to adopt blockchain tech without the cryptocurrency aspect, failing to realize there needs to be a built-in incentive structure for people to participate on any blockchain network. Mining, staking, and other proof / reward systems are required for any blockchain tech to get off the ground.
Hyperledger Fabric uses Proof of Authority and is still being used for projects. Being antithetical to the crypto crowd it doesn't get the same fanfare. The target user base is very different.
I personally would reach for this tech stack before the permissionless variety, I just don't have anything that needs blockchain.
Re: Coinbase Cloud
#75Re: Coinbase Cloud
#76Earlier quoted context omitted.
Cardano ecosystem used to use Rust a lot. Currently moving to Haskell. Few other big ecosystems using Rust too. Imo future is more expressive rust-like languages.
I thought they'd been using Haskellfor years, and the rust development was relatively recent.
Yeah Cardano has been Haskell for years and some Rust for a secondary implementation of the node (Jormungandr)
Re: Coinbase Cloud
#77Earlier quoted context omitted.
It is shockingly bad
Only to those firmly within the HN bubble.
This is specific to the domain of cryptocurrencies and blockchains where you are dealing with decentralized networks that slash funds if you are offline for a period of time. It's a different ball game to endpoints you can let fall over and restart from time to time.
Re: Coinbase Cloud
#78Re: Coinbase Cloud
#79Earlier quoted context omitted.
They were probably faced with decision: Release now and improve over time, or don't release now. We don't live in the time of option B. Option B is the path of ruin.
That's the attitude you want from a financial service, YOLO BUILD FAST AND BREAK THINGS. We absolutely live in a time where you can engineer things well, especially at the scale of a publicly traded company. They aren't some scrappy startup desperately trying to get their first users.
They’re trying to be like banks. Mine closes at 5pm sharp and all transactions stop because you can’t do fraud checks in developing countries when “fraud check” means literally sending someone physically to the point of sale to make sure it really exists.
Re: Coinbase Cloud
#80Earlier quoted context omitted.
It is shockingly bad
Only to those firmly within the HN bubble.
Yep, there are enough services that drop into maintenance mode multiple time a week. Although outside local business hours, one of my banks is in maintenance mode every night (not sure if they do backups or if it's just down and has maintenance mode as 500 screen or what is going on) and the api (psd2 ) does not work then either. Well over 4 days a year I would say and literally no one cares: people are sleeping. So sure it depends on the service but 99% or less does not matter if no one is using it anyway. That said; it is quite bad in this day and age and I really wonder what it is they are 'maintaining'.