5 ms·

> fully settling on the blockchain is slow and costly. That depends on which blockchain you're fully settling on. There's more than one, Ethereum != "the bloc

> fully settling on the blockchain is slow and costly. That depends on which blockchain you're fully settling on. There's more than one, Ethereum != "the blockchain".

yvdriess 5y ago
Fundamentally, the more popular the chain, the more expensive transactions are going to be.
- spopejoy 5y ago
  Not if the chain can scale -- ie not "fast finality" but being able to throw more resources at the problem as adoption increases (unlike Bitcoin, Ethereum and most single-chain POS systems however). Gas' true function is to stop griefing, the fact that it sends tx costs through the roof is because immature tech.
oblio 5y ago
How can they ever solve the fundamental problem of slow worldwide, globalized, decentralized consensus? Have I missed some Turing Award discoveries while I was away?
- basicallybones 5y ago
  Several newer blockchains have made significant progress on transaction speed and throughput. Solana probably is the most notable example, but there are others. https://medium.com/solana-labs/how-solanas-proof-of-history-is-a-huge-advancement-for-block-time-178899c89723 https://medium.com/solana-labs/how-solanas-proof-of-history-....
- TimJRobinson 5y ago
  > Have I missed some Turing Award discoveries while I was away? Yes. ZK Rollups - https://polynya.medium.com/conjecture-how-far-can-rollups-data-shards-scale-in-2030-14-million-tps-933b87ca622e https://polynya.medium.com/conjecture-how-far-can-rollups-da... If you don't understand this post he has many more explaining the technologies behind it.
- SkyMarshal 5y ago
  > the fundamental problem of slow worldwide, globalized, decentralized consensus? That's not necessarily a problem. Slow is ok if it's highly secure, reliable, and inexpensive relative to the amounts being moved or compared to other alternatives.

5 ms·

> fully settling on the blockchain is slow and costly. That depends on which blockchain you're fully settling on. There's more than one, Ethereum != "the bloc

by SkyMarshal 5y ago

> fully settling on the blockchain is slow and costly. That depends on which blockchain you're fully settling on. There's more than one, Ethereum != "the blockchain".

yvdriess 5y ago
Fundamentally, the more popular the chain, the more expensive transactions are going to be.
- spopejoy 5y ago
  Not if the chain can scale -- ie not "fast finality" but being able to throw more resources at the problem as adoption increases (unlike Bitcoin, Ethereum and most single-chain POS systems however). Gas' true function is to stop griefing, the fact that it sends tx costs through the roof is because immature tech.
oblio 5y ago
How can they ever solve the fundamental problem of slow worldwide, globalized, decentralized consensus? Have I missed some Turing Award discoveries while I was away?
- basicallybones 5y ago
  Several newer blockchains have made significant progress on transaction speed and throughput. Solana probably is the most notable example, but there are others. https://medium.com/solana-labs/how-solanas-proof-of-history-is-a-huge-advancement-for-block-time-178899c89723 https://medium.com/solana-labs/how-solanas-proof-of-history-....
- TimJRobinson 5y ago
  > Have I missed some Turing Award discoveries while I was away? Yes. ZK Rollups - https://polynya.medium.com/conjecture-how-far-can-rollups-data-shards-scale-in-2030-14-million-tps-933b87ca622e https://polynya.medium.com/conjecture-how-far-can-rollups-da... If you don't understand this post he has many more explaining the technologies behind it.
- SkyMarshal 5y ago
  > the fundamental problem of slow worldwide, globalized, decentralized consensus? That's not necessarily a problem. Slow is ok if it's highly secure, reliable, and inexpensive relative to the amounts being moved or compared to other alternatives.