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> First, scaling layer-1 and implementation of layer-2 solutions is not an either/or proposition. Long term I agree, that's why I said "a layer-2 network shoul

> First, scaling layer-1 and implementation of layer-2 solutions is not an either/or proposition. Long term I agree, that's why I said "a layer-2 network should be a last resort" rather than layer-2 solutions being completely useless. > Even if ETH2 manages to increase transaction capacity by 5-6 orders (which is quite a tall order) of magnitude Doing a quick calculation, if ETH2 manages 9,000 transactions per second, that's about 0.1 transactions per person (on Earth) per day. You're right that a reasonable definition of success requires some sort of layer-2 solution eventually, although I don't think we are anywhere near that scale ceiling yet. > Is a huuuuge ad hominem. Wasn't it you who accused me of being "a Bitcoin maximalist" in an attempt to discredit my position? :-) Anyway, we'll see how much layer-2 solutions end up helping the people of Venezuela relative to layer-1 solutions: https://eatbch.org/venezuela/ https://eatbch.org/venezuela/ https://decrypt.co/11370/bitcoin-cash-just-trumped-bitcoin-in-venezuela https://decrypt.co/11370/bitcoin-cash-just-trumped-bitcoin-i...

rglullis 6y ago
You are getting it backwards, it seems. Instead of having dapp developers waiting for some uncertain capacity to show up and then develop the applications, what we have is people developing dapps at the current technology and finding ways to optimize it to make them practical given current constraints. Decentralized exchanges, games, management of NFT, all that already exist. They are just really impractical/expensive to do on the blockchain, and layer 2 solutions are starting to come already to tackle that. It makes no sense for everyone to wait for every quantum leap in TPS capacity. "Worse is better" have always won. Unless, of course, your definition of "winning" necessarily goes through the adoption of a blockchain that can not do much else besides transferring its one specific currency. ;) > we'll see how much layer-2 solutions end up helping the people of Venezuela relative to layer-1 solutions If people are getting BCH to convert straight to fiat and/or buy food, is it really a fair comparison with an alternative that is creating its own economy?

rglullis 6y ago

You are getting it backwards, it seems. Instead of having dapp developers waiting for some uncertain capacity to show up and then develop the applications, what we have is people developing dapps at the current technology and finding ways to optimize it to make them practical given current constraints. Decentralized exchanges, games, management of NFT, all that already exist. They are just really impractical/expensive to do on the blockchain, and layer 2 solutions are starting to come already to tackle that. It makes no sense for everyone to wait for every quantum leap in TPS capacity. "Worse is better" have always won. Unless, of course, your definition of "winning" necessarily goes through the adoption of a blockchain that can not do much else besides transferring its one specific currency. ;) > we'll see how much layer-2 solutions end up helping the people of Venezuela relative to layer-1 solutions If people are getting BCH to convert straight to fiat and/or buy food, is it really a fair comparison with an alternative that is creating its own economy?