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Rarible uses the Ethereum blockchain: https://www.notion.so/rarible-com-FAQ-a47b276aa1994f7c8e3bc96d700717c5 https://www.notion.so/rarible-com-FAQ-a47b276aa1994

by mcintyre1994 6y ago

Rarible uses the Ethereum blockchain: https://www.notion.so/rarible-com-FAQ-a47b276aa1994f7c8e3bc96d700717c5 https://www.notion.so/rarible-com-FAQ-a47b276aa1994f7c8e3bc9... So I guess it depends how much of the increase in Ethereum's energy consumption you put down to NFTs/their popularity. No idea how you'd calculate that but it's increased hugely the past few months: https://digiconomist.net/ethereum-energy-consumption https://digiconomist.net/ethereum-energy-consumption

agumonkey 6y ago
If musk want to do good, let him produce solar panel based doge mining rigs. ©
- TeMPOraL 6y ago
  You didn't actually think the heater that keeps Tesla batteries warm in winter is just a simple resisitve heater? :).
  - agumonkey 6y ago
    Ha. And they regulate the customer energy grid through eth based token. It all makes sense.
EGreg 6y ago
Someone tell me why you need the Ethereum blockchain for NFTs when you can just have non-divisible coins represent them, and be watched by a subset of the network instead of the whole network. I mean this is like transporting a beanie baby inside an armored truck with a convoy. It’s not like we need the history of all UTXOs ever, the coin may have changed hands like 100 times max, so it has an easily checked history. Same principle on Ethereum.
- dmitryminkovsky 6y ago
  > I mean this is like transporting a beanie baby inside an armored truck with a convoy. If I understand correctly, this is what sidechains are about? https://github.com/memo/eco-nft#still-using-ethereum https://github.com/memo/eco-nft#still-using-ethereum.
  - EGreg 6y ago
    I like this section better: Using other blockchains: Instead of Ethereum, other blockchains are used. This can be up to hundreds of times better for the environment in terms of carbon footprint. Some of these chains include Algorand, Tezos, Polkadot and other PoS networks.
    - dmitryminkovsky 6y ago
      Yeah, but then isn't there a risk of any such network becoming popular and then you've got the same problem as with Ethereum?
      - EGreg 6y ago
        Not at all, unless the network has a global bottleneck like a miner. Networks built on global blockchains are the problem. And if they use proof of work that’s even worse!
        dmitryminkovsky 6y ago
        Oh I didn’t see PoS there. I didn’t know there were such networks out there in production.
- intotheabyss 6y ago
  Just a small point, Ethereum uses an account based system, not UTXOs. Also, NFTs are built on the ERC721 standard, which is a contract standard that allows composability between different NFTs and contracts.

agumonkey 6y ago

If musk want to do good, let him produce solar panel based doge mining rigs. ©

TeMPOraL 6y ago
You didn't actually think the heater that keeps Tesla batteries warm in winter is just a simple resisitve heater? :).
- agumonkey 6y ago
  Ha. And they regulate the customer energy grid through eth based token. It all makes sense.

EGreg 6y ago

Someone tell me why you need the Ethereum blockchain for NFTs when you can just have non-divisible coins represent them, and be watched by a subset of the network instead of the whole network. I mean this is like transporting a beanie baby inside an armored truck with a convoy. It’s not like we need the history of all UTXOs ever, the coin may have changed hands like 100 times max, so it has an easily checked history. Same principle on Ethereum.

dmitryminkovsky 6y ago
> I mean this is like transporting a beanie baby inside an armored truck with a convoy. If I understand correctly, this is what sidechains are about? https://github.com/memo/eco-nft#still-using-ethereum https://github.com/memo/eco-nft#still-using-ethereum.
- EGreg 6y ago
  I like this section better: Using other blockchains: Instead of Ethereum, other blockchains are used. This can be up to hundreds of times better for the environment in terms of carbon footprint. Some of these chains include Algorand, Tezos, Polkadot and other PoS networks.
  - dmitryminkovsky 6y ago
    Yeah, but then isn't there a risk of any such network becoming popular and then you've got the same problem as with Ethereum?
    - EGreg 6y ago
      Not at all, unless the network has a global bottleneck like a miner. Networks built on global blockchains are the problem. And if they use proof of work that’s even worse!
      - dmitryminkovsky 6y ago
        Oh I didn’t see PoS there. I didn’t know there were such networks out there in production.
intotheabyss 6y ago
Just a small point, Ethereum uses an account based system, not UTXOs. Also, NFTs are built on the ERC721 standard, which is a contract standard that allows composability between different NFTs and contracts.