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I went to try out a friends dapp based lottery pool. To transfer 500$ into the pool I had to convert my tokens then pay around 150$ in gas fees to get it in the

I went to try out a friends dapp based lottery pool. To transfer 500$ into the pool I had to convert my tokens then pay around 150$ in gas fees to get it in there, then another 150$ to get it out. So, while Im a believer in distributed systems, we got some work to do.

pjc50 6y ago
You're right, those fees aren't transferring nearly enough money to early adopters. It could probably be made to emit more CO2 along the way too.
X6S1x6Okd1st 6y ago
Yeah gas fees are insane, more and more stuff need to happen on L2. and ETH2 can't come fast enough.
- chrisco255 6y ago
  Optimistic rollups in the short-term, but I'm very hopeful for EVM zkRollups in the next 6 months: https://zksync.io/faq/intro.html https://zksync.io/faq/intro.html
  - rglullis 6y ago
    Loopring (https://exchange.loopring.io https://exchange.loopring.io) is already here, also based on zk-rollups.
    - chrisco255 6y ago
      This is correct, but Loopring can only do basic trades. It can't run arbitrary Solidity code...yet. zkSync, that I linked above, is working on bringing Solidity and the Ethereum VM to zkRollups. They claim they can pull it off by this summer. Many DeFi projects, including Loopring, invested in zkSync as a result. I'm hoping they pull it off.
- jereees 6y ago
  Perhaps they could use https://cheapeth.org/ https://cheapeth.org/
  - vmception 6y ago
    will I be cancelled or praised in India if I launch pajeeth? feel like it could go either way
  - 1996 6y ago
    Oh you mean the one where the author did a huge premine for himself and bans anyone who dares mention that?
- vmception 6y ago
  My favorite thing with L2 is how you can call almost anything an L2 and people believe it. You can just tell them to use an independent proof of stake network with permissionless validators like Polygon (formerly Matic), and everyone believes this is the "trustless growing L2" while Binance Smart Chain - which is also an independent proof of stake network with permissionless validators - is the "centralized" one. Polygon has a separate Plasma network which is not what anybody uses for all their smart contract redeployments. The gulf of knowledge just gets wider and wider, and more and more profitable.
  - X6S1x6Okd1st 6y ago
    Yeah a trusted 3rd party guide that calls out the security properties of the different L2 & other scaling approaches would be really good. I'm also concerned about how so many approaches rely on security though making a ton of on chain tx disputing any bad actor. Seems like a DoS vector
agumonkey 6y ago
some people are even worried that the current fees will last just long enough for competitors to pull the rug under eth feet

pjc50 6y ago

You're right, those fees aren't transferring nearly enough money to early adopters. It could probably be made to emit more CO2 along the way too.

X6S1x6Okd1st 6y ago

Yeah gas fees are insane, more and more stuff need to happen on L2. and ETH2 can't come fast enough.

chrisco255 6y ago
Optimistic rollups in the short-term, but I'm very hopeful for EVM zkRollups in the next 6 months: https://zksync.io/faq/intro.html https://zksync.io/faq/intro.html
- rglullis 6y ago
  Loopring (https://exchange.loopring.io https://exchange.loopring.io) is already here, also based on zk-rollups.
  - chrisco255 6y ago
    This is correct, but Loopring can only do basic trades. It can't run arbitrary Solidity code...yet. zkSync, that I linked above, is working on bringing Solidity and the Ethereum VM to zkRollups. They claim they can pull it off by this summer. Many DeFi projects, including Loopring, invested in zkSync as a result. I'm hoping they pull it off.
jereees 6y ago
Perhaps they could use https://cheapeth.org/ https://cheapeth.org/
- vmception 6y ago
  will I be cancelled or praised in India if I launch pajeeth? feel like it could go either way
- 1996 6y ago
  Oh you mean the one where the author did a huge premine for himself and bans anyone who dares mention that?
vmception 6y ago
My favorite thing with L2 is how you can call almost anything an L2 and people believe it. You can just tell them to use an independent proof of stake network with permissionless validators like Polygon (formerly Matic), and everyone believes this is the "trustless growing L2" while Binance Smart Chain - which is also an independent proof of stake network with permissionless validators - is the "centralized" one. Polygon has a separate Plasma network which is not what anybody uses for all their smart contract redeployments. The gulf of knowledge just gets wider and wider, and more and more profitable.
- X6S1x6Okd1st 6y ago
  Yeah a trusted 3rd party guide that calls out the security properties of the different L2 & other scaling approaches would be really good. I'm also concerned about how so many approaches rely on security though making a ton of on chain tx disputing any bad actor. Seems like a DoS vector

agumonkey 6y ago

some people are even worried that the current fees will last just long enough for competitors to pull the rug under eth feet