3 ms·

> This is being addressed by moving things to rollups, and later by expanding rollup capacity with shards. First, it may be worth considering that non-crypto p

> This is being addressed by moving things to rollups, and later by expanding rollup capacity with shards. First, it may be worth considering that non-crypto people don't know or care about any of this jargon. Anyway, I hope it works. To me it just sounds like deferring trust to smaller but faster institutions/coins with proven track records. Doesn't seem all that different from the current financial system. At any rate, there are more issues than just gas fees.

DennisP 5y ago
Rollups are a way to compress the storage space required by a transaction. They store the compressed versions on chain, and there are cryptographic guarantees that everything is correct and that users can withdraw funds to regular on-chain accounts. Shards expand the storage available, by making it so that individual nodes can store just a portion of the total stored data. Each shard gets the full security of the main chain. The issue with refunds was that gas costs were high and many contributions were small, so that issue at least would be solved as scaling improves.
- ShamelessC 5y ago
  Thank you for clarifying the specifics. Sounds unnecessarily complex, to say the least.
  - DennisP 5y ago
    If you have a simpler way to achieve 100,000 tx/sec in a large decentralized network with strong security, then you should probably publish it. The alternatives I've seen so far achieve scaling by sacrificing decentralization.
    - ShamelessC 5y ago
      I have no such need for a large decentralized network responsible for handling my money as I have access to regulated (albeit not enough) financial institutions in the US and USD. IPFS/BitTorrent/Matrix is cool though. Can any of this research help in those areas?
      - DennisP 5y ago
        The networking technology from IPFS/etc will likely be helpful. Something a little different about Ethereum shards is that it needs stronger guarantees on data availability. On the other hand it's less ambitious in terms of total storage capacity. I tend to get heavily downvoted here whenever I suggest that Ethereum might be useful for something, so I tend to keep my comments strictly technical. But I'll take a chance and say that Uniswap, for example, is a pretty interesting financial innovation with no equivalent in legacy finance. And just the other day, the International Emissions Trading Association published a statement saying: > Digital tools hold the potential to revolutionise monitoring, reporting and verification, and they offer new means for highly secure, transparent and globally accessible registry infrastructure. There are also innovations in asset formation, such as issuing carbon credits in the form of digital credits or native tokens secured on a public blockchain. https://www.ieta.org/page-18192/12286504 https://www.ieta.org/page-18192/12286504
    - unboxingelf 5y ago
      I appreciate the accurate summary of the technology and scaling solutions you provided. It would be refreshing to see this community actually have a dialogue on the tech.

DennisP 5y ago

Rollups are a way to compress the storage space required by a transaction. They store the compressed versions on chain, and there are cryptographic guarantees that everything is correct and that users can withdraw funds to regular on-chain accounts. Shards expand the storage available, by making it so that individual nodes can store just a portion of the total stored data. Each shard gets the full security of the main chain. The issue with refunds was that gas costs were high and many contributions were small, so that issue at least would be solved as scaling improves.

ShamelessC 5y ago
Thank you for clarifying the specifics. Sounds unnecessarily complex, to say the least.
- DennisP 5y ago
  If you have a simpler way to achieve 100,000 tx/sec in a large decentralized network with strong security, then you should probably publish it. The alternatives I've seen so far achieve scaling by sacrificing decentralization.
  - ShamelessC 5y ago
    I have no such need for a large decentralized network responsible for handling my money as I have access to regulated (albeit not enough) financial institutions in the US and USD. IPFS/BitTorrent/Matrix is cool though. Can any of this research help in those areas?
    - DennisP 5y ago
      The networking technology from IPFS/etc will likely be helpful. Something a little different about Ethereum shards is that it needs stronger guarantees on data availability. On the other hand it's less ambitious in terms of total storage capacity. I tend to get heavily downvoted here whenever I suggest that Ethereum might be useful for something, so I tend to keep my comments strictly technical. But I'll take a chance and say that Uniswap, for example, is a pretty interesting financial innovation with no equivalent in legacy finance. And just the other day, the International Emissions Trading Association published a statement saying: > Digital tools hold the potential to revolutionise monitoring, reporting and verification, and they offer new means for highly secure, transparent and globally accessible registry infrastructure. There are also innovations in asset formation, such as issuing carbon credits in the form of digital credits or native tokens secured on a public blockchain. https://www.ieta.org/page-18192/12286504 https://www.ieta.org/page-18192/12286504
  - unboxingelf 5y ago
    I appreciate the accurate summary of the technology and scaling solutions you provided. It would be refreshing to see this community actually have a dialogue on the tech.