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Most of the spike in gas prices here was caused by their contract being horrendously un-optimized. If they had done even basic optimization of their contract, g
by amyjess 4y ago
Most of the spike in gas prices here was caused by their contract being horrendously un-optimized. If they had done even basic optimization of their contract, gas prices would've been a tiny fraction of what they were, and they would be orders of magnitude smaller if they used ERC-721A. Here's an estimate of what would have happened if they just optimized their damn contract: https://twitter.com/gioperalto/status/1520751524070187010 https://twitter.com/gioperalto/status/1520751524070187010
919.96 ETH would have been saved if they optimized it and stayed on ERC-721, and 39194.05 ETH would have been safed if they also switched ot ERC-721A.
I'm convinced that Yuga is just technically incompetent. All of the people I pay attention to in the crypto space are incensed by everything Yuga is doing here, from the un-optimized contracts to blaming ETH for their own incompetence to their pricing model that excludes everyone except for whales who are already wealthy. The people I follow in the space are small-time independent artists who use NFTs as a way to make a living off their original art, and none of them are happy with Yuga at all.
- SemanticStrengh 4y agoWhat's preventing an actor from deliberately designing the slowest or most resource intensive contracts in order to break the system ?
- pshc 4y agoIt's all limited by fees. Typically, users would see the high fees and choose not to interact with the contract. It seems during this sale, FOMO outstripped the incredibly (negligently) high expense.
- WFHRenaissance 4y agoConsumers normally won't tolerate insane prices.
- SemanticStrengh 4y agoMistakes happens
- runnerup 4y agoInefficiency costs money. Every operation on the Ethereum Virtual Machine costs “gas”. They’d have to get someone to pay for all that gas used. Yuga is able to get people to pay because they have the top “brand” in NFT’s currently.
- nootropicat 4y agoA more optimal contract would just mean it would happen faster, with a higher gas price while the sale is ongoing. I think this was also intentional - as a way to make the congestion last longer.
- CryptoPunk 4y agoWith a more optimized contract, the same number of transactions would have been submitted, and the aggregate computational load would have been smaller, leading to less congestion.
- nootropicat 4y agoThere would be less congestion on that day, but the total fee amount would be roughly the same.