@Genghis Khan: many thanks for the long answer, much appreciated! I agree with you that this is only the beginning, probably in the future there won't even be a need to open your wallet and send money by yourself but it will be executed automatically within the dapp. And great example for Plasma, it looks like the ETH version of Lightening Network and it could be a good solution for the dapps. In that case the only issue may be the prevention of the spam attacks in the blockchain.
About the global reserves of the countries, I wouldn't be that positive at least on the medium term although...

Quote: (04-24-2018 11:33 AM)Genghis Khan Wrote:  

Quote: (04-24-2018 03:50 AM)Giacomo Casanova Wrote:  

Gengis Khan, I read many interesting posts from you about ETH, but please allow me to make a small analysis about one of the weak points in the whole idea of dapps on the Eth platform. What do you think of this article?
https://medium.com/@giltotherescue/vecha...fcfca4bde2

I have been analyzing the "dapp business" for a while but still I cannot understand how ethereum is going to deal with the monetization issue (not mentioning the issue of fluctuating price that also bitcoin has). Any opinion?

It's a valid criticism.

Quote:Quote:

Imagine a decentralized eBay. A bidder has to pay a gas fee to the blockchain every time they place a new bid. How many people would be willing to do that once? But wait, now they’re outbid. Want to place another bid? Pay another gas fee. As research has shown, the pain of a loss is harder to stomach than the joy of a gain. The desire to bid again is less and less each time.

Judging from my experience using IDEX (current top eth-based DEX) it is not necessary to pay gas fees every time you set and cancel an order, you only need to 'sign' the order to authorize the completion of the transaction in case your offer is accepted, which does not actually cost any gas.

Quote: (04-25-2018 02:49 AM)Giacomo Casanova Wrote:  

@Genghis Khan: many thanks for the long answer, much appreciated! I agree with you that this is only the beginning, probably in the future there won't even be a need to open your wallet and send money by yourself but it will be executed automatically within the dapp. And great example for Plasma, it looks like the ETH version of Lightening Network and it could be a good solution for the dapps. In that case the only issue may be the prevention of the spam attacks in the blockchain.
About the global reserves of the countries, I wouldn't be that positive at least on the medium term although...

Yeah I'm really not sure what'll happen medium or long-term with the USD as the global reserve currency. Will it stay the reserve currency? Will countries go back on the gold standard? I honestly don't know.

It'll be interesting to watch. The uncertainty on my part is also why I'm excited about projects like Digix. Not that Digix is the only way to buy gold, but damn if they don't make it really easy to convert from ETH to gold.

There's also something interesting in the case of one blockchain platform becoming the winner-takes-all. Assuming blockchain takes off and it runs e.g. on ETH, and everyone is directly or indirectly buying/selling ETH, it may unofficially become a global reserve type currency.

But we'll see. This is of course all speculation on my part. And I might add, a very amateur speculation.

Quote: (04-27-2018 12:46 PM)Genghis Khan Wrote:  

There's also something interesting in the case of one blockchain platform becoming the winner-takes-all. Assuming blockchain takes off and it runs e.g. on ETH, and everyone is directly or indirectly buying/selling ETH, it may unofficially become a global reserve type currency.

But we'll see. This is of course all speculation on my part. And I might add, a very amateur speculation.

That doesn't sound too far-fetched. But it would obviously be years and years away.

Quote: (04-27-2018 12:53 PM)zoom Wrote:  

Quote: (04-27-2018 12:46 PM)Genghis Khan Wrote:  

There's also something interesting in the case of one blockchain platform becoming the winner-takes-all. Assuming blockchain takes off and it runs e.g. on ETH, and everyone is directly or indirectly buying/selling ETH, it may unofficially become a global reserve type currency.

But we'll see. This is of course all speculation on my part. And I might add, a very amateur speculation.

That doesn't sound too far-fetched. But it would obviously be years and years away.

Agreed. My guess would be we'll need a serious loss of confidence in the USD for this to happen. Possibly the next big economic crash?

In more positive news:

https://twitter.com/vitalikbuterin/statu...30624?s=21

Progress is being made in sharding.

From Vitalik on https://www.reddit.com/r/ethereum/commen...h=37e88947

Quote:Quote:

The primary goal is massive scalability improvement. Each one of the shards (12 in that simulation, likely 100 live) will have as high capacity (and likely more) than the current existing Ethereum chain.

So expect a 100-fold increase in capacity soon? So approximately 1000 transactions per second.

https://www.trustnodes.com/2018/05/01/sh...ik-buterin

Should also drop staking requirements from the current 1000-1500 ETH number I've seen thrown around to 32 ETH

Quote:Quote:

The current requirement for stakers is 1,000 eth, although you will probably be able to join a pool with even 1eth or less. That requirement will be brought down to 32 eth, so making it more decentralized. While finality is a checkpoint, like the genesis block, a point beyond which you can’t go back as a miner/staker.

Ether is miles away from sharing. Vitalitk has been smart in trying to steal the first mover advantage image regarding sharding, but Zilliqa is going to have a superior form of sharding already set up my Q3. Ether should really look to partner with them, and there are rumours this is in the works.

Neat idea - sending ETH that can be reversed:
https://info.silverwire.io/

Also, Loom just came about with a possible EOS killer:
https://medium.com/loom-network/announci...eba6c244da

Quote:Quote:

ZombieChain: A Shared DPoS Sidechain For Ethereum DApps

Our original vision for Loom Network was that every DApp will run on its own sidechain, such that each DApp is able to customize its DAppChain for the performance / decentralization tradeoff that suits its needs.

And this model still makes a ton of sense for high-volume applications, like a decentralized Reddit or Hearthstone.

But after talking to early beta users of the Loom SDK, we realized not every developer is ready to bootstrap their own DAppChain from day one and host their own validators. A lot of our beta developers simply want a sidechain they can deploy their Ethereum DApps to that’s faster and more performant than today’s Ethereum mainnet.

So we decided to launch a shared DPoS sidechain that anyone can deploy DApps to for a fixed monthly fee.

Say hello to ZombieChain!

Built on the Loom SDK

Quote:Quote:

Sub-second block times

In order to run interactive applications like Reddit or Hearthstone on the blockchain, it’s important from a UX perspective to have extremely fast block times. No one wants to wait 15+ seconds to see their comment appear, or for their opponent to end his turn!
Since ZombieChain runs on DPoS, we’re seeing sub-second block times on average (interactive demo coming soon) — making it an ideal place to host DApps that require a fluid UX and high interactivity.

Quote:Quote:

Plasma Cash support coming

We previously announced that we’re adding plasma cash to the Loom SDK in June. We’re still on track for release next month, and after it’s ready we plan to add support to ZombieChain as well.

This means DApps and games deployed to ZombieChain will be able to let users securely transfer their ERC721 tokens from mainnet (and in a later version, their ERC20 tokens and ETH as well), enabling some really cool things that aren’t currently possible on Ethereum mainnet alone.

Quote:Quote:

All these Loom chains will be using Ethereum as the “high court” with Plasma Cash for security. A single DApp could use multiple different Loom chains simultaneously to handle different specialized portions of the DApp (identity, marketplace, etc.), running the most expensive and custom pieces of logic on their own dedicated DAppChains.

You could even have “sidechains of sidechains”, like a shared games chain using ERC721 assets from Ethereum, where individual matches take place off chain.

Loom is quite frankly the most excited I've been about blockchain since I discovered Ethereum. It's going to be absolutely huge and the team is 100% on board with Ethereum as the main chain.

If I could, I'd "invest" in Loom tokens - too bad they're set at a fixed price, so no speculation - just indicating this team is dead serious about scaling dApps on sidechains.

Quote: (05-03-2018 02:33 AM)ZanMack Wrote:  

Ether is miles away from sharing. Vitalitk has been smart in trying to steal the first mover advantage image regarding sharding, but Zilliqa is going to have a superior form of sharding already set up my Q3. Ether should really look to partner with them, and there are rumours this is in the works.

Damn, when you put it that way, we should just all convert our ETH into Sillyqa. Ethereum is clearly going to die

Quote: (04-25-2018 02:49 AM)Giacomo Casanova Wrote:  

@Genghis Khan: many thanks for the long answer, much appreciated! I agree with you that this is only the beginning, probably in the future there won't even be a need to open your wallet and send money by yourself but it will be executed automatically within the dapp. And great example for Plasma, it looks like the ETH version of Lightening Network and it could be a good solution for the dapps. In that case the only issue may be the prevention of the spam attacks in the blockchain.
About the global reserves of the countries, I wouldn't be that positive at least on the medium term although...

Oops, forgot to address the bolded part

I think Raiden is more like the ETH version of the Lightning Network. Plasma is more like an actual blockchain on top of a blockchain. I believe OMG is the first real implementation of Plasma.

https://blockgeeks.com/guides/what-is-om...-protocol/

I'm also not too worried about spam attacks. Keep in mind transactions aren't free. You'd need a really good reason (sabotage being worth the pay-off) to spend so much money on gas fees to congest the network. I'm sure it can be done, but unlike email spamming, this shit ain't free.


To recap:

blockchains on top of blockchains for scalability (Plasma)
sidechains for scalability (Loom)
Casper moving along
Sharding moving along

yeah, bright future ahead indeed.

https://www.cnbc.com/2018/06/14/bitcoin-...-says.html

Bullish news for Ethereum! Let's see how strongly the market will react.

They're changing plans for implementing Casper (Proof-of-Stake) and sharding (scaling). Initially, they were separate developments, but the development team has decides to combine them.

This is BIG since they were struggling with working around each other. It might mean things move faster:

https://medium.com/@djrtwo/casper-️-shar...a90077f121

Quote:Quote:

Although this new design deprecates much hard work by the research team, client devs, and Ethereum community at large, we expect this to be a short term pain point for a long term overall gain. In fact in the long run, the hybrid FFG contract was to eventually be deprecated anyway in favor of a full PoS+sharding contract. This new design is the culmination of years of hard research on both proof of stake and sharding, and brings us to a full-PoS, sharded, scalable blockchain much sooner than if we keep the two efforts disparate. We are excited to see the research mature and move into production.

Another Layer 2 scaling solution in the works: striim

I need to look through this one a bit more carefully, as it's vying to be a better solution than plasma and raiden.

white paper: https://github.com/hubiinetwork/striim-c...r.v1.0.pdf

Medium posts:

https://medium.com/@jacobotoll/commercia...5f9047e98f

https://medium.com/@jacobotoll/striim-hu...f555d80fdc

Quote:Quote:

We are demonstrating that the Ethereum network can scale right now, because it is necessary for our content products. striim will be trustless and will achieve our scaling promises by an appropriate separation of concerns. All aspects of the security model protecting striim users will be decentralised and enforced on-chain. Processing of transactions of any type will be processed off-chain by hubii, however, any attempt at fraudulent activity by hubii will be prevented by the design of the protocol.

In taking this approach, all striim transactions will be moved off-chain (except deposits and withdrawals, which will necessarily be on-chain). This means these internal striim transactions will avoid the Ethereum network entirely. This hybrid approach offers a number of advantages for striim transactions, which are known as driips:

Minimal transaction latency
“Instant” transaction finality
15+ transactions per second per user address
Essentially unlimited total transaction throughput
Low, predictable and transparent fees
Can shield the users from the complexity of the Ethereum UX
A lot of proposed second-layer solutions to scale blockchains have mechanisms to move transactions off-chain. What is particularly novel about striim is our patent pending security model. Any Ethereum user can validate transactions and send fraud proofs to our suite of smart contracts, preventing any fraud from taking place. However, this introduces one of the most complex problems with such off-chain constructions: The Data Availability Problem (https://www.youtube.com/watch?reload=9&v...herMedia).

Our solution to prove data availability is currently in private testing and striim tokens will be an essential part of this. More details on this solution will be revealed with the release of a striim whitepaper which outlines our design.

LOOM Network building a new game on top of Ethereum: Zombie Battlegrounds.

Kickstarter:

https://www.kickstarter.com/projects/328...f-ccg-tcg/

Reminiscent of Heartstone. Will be available on iOS and Android first.

Could potentially be huge. They plan on making this into an actual addictive game, not just a gimmick. And also use it to ease people into Ethereum (by allowing people to buy and sell cards for ETH)

Medium post:

https://medium.com/loom-network/zombie-b...7579e51e1a

Honestly, this just looks like a fun game overall - even if it wasn't built on top of Ethereum, seems like it'd be super fun to play.



...

there are people who say it's too early to call which blockchain will win long-term

That may be true, but damn if Ethereum isn't winning hard right now.

I think ethereum is moving in the right direction but I'm skeptical whether corporations or governments will ever use it. It's more likely that something like EOS would be more of what they would want because it's a ton more controllable by governments and it has high throughput. Despite eos being a shittier version of a Centralised database it will probably get more adoption.

Quote: (06-24-2018 02:53 AM)[email protected] Wrote:  

I think ethereum is moving in the right direction but I'm skeptical whether corporations or governments will ever use it. It's more likely that something like EOS would be more of what they would want because it's a ton more controllable by governments and it has high throughput. Despite eos being a shittier version of a Centralised database it will probably get more adoption.

I guess it depends on how someone wants to use blockchain. I agree governments are probably not thrilled about the entire censorship-resistant aspect of blockchains.

Though if Ethereum can provide a real value in terms of efficiency, cost or convenience - it could just be the biggest player in the blockchain space. That's been my position for the past year. I believe 100% that Ethereum will end up being the biggest player, more so than Bitcoin, EOS or any other platform.

Also, I know I sound like a fanboy - probably because I am to a certain extent - but do check out LOOM when you get a chance. They're looking to bring EOS-like functionality (dPOS blockchains with high throughput) and a second layer (L2) on top of Ethereum.

How far is LOOM away from mainnet? Because Augur is launching on July 7th. If that hits it big it would be good for ethereum adoption

Good question, I'm not sure.

Here's their announcement about ZombieChains (the EOS-like mainnet):

https://medium.com/loom-network/announci...eba6c244da

Doesn't seem to have a launch date - so I'm not sure how far they are from releasing it.

They've been pretty good launching tools for developers - https://loomx.io/ - so I don't think it'll take too long for the ZombieChain mainnet to come out.

I think Ethereum is a buy atm. It is very cheap and considering the amount of people building on it, it looks like $458 is a very cheap price for that

https://s3.us-east-2.amazonaws.com/tetra...Thesis.pdf

This guy is saying ETH and dAPPs are bound for failure

Quote: (07-17-2018 03:46 AM)[email protected] Wrote:  

https://s3.us-east-2.amazonaws.com/tetra...Thesis.pdf

This guy is saying ETH and dAPPs are bound for failure

Anyone have a quick summary of this to save me from reading 42 pages?

I wouldn't bother with the usual fud from a bunch of jew-owned investment bankers whose daily job is to spread doom and gloom about crypto to keep your goy money into (((their))) centralized established banks.
it's the usual story over and over again.

Quote: (07-17-2018 03:46 AM)[email protected] Wrote:  

https://s3.us-east-2.amazonaws.com/tetra...Thesis.pdf

This guy is saying ETH and dAPPs are bound for failure

He's right.

Quote: (07-03-2018 07:49 PM)jameslee Wrote:  

I think Ethereum is a buy atm. It is very cheap and considering the amount of people building on it, it looks like $458 is a very cheap price for that

As Nelson would say from the Simpsons Ha Ha

ETH is the worst underperformer and most actually used crypto in the market.
really astonishing.

You shouldn't be surprised ETH or any coin is doing bad. This market is manipulated more than any other, its a gamble. They all follow BTC and thats controlled by the whales.