0x64

11 ms·

31.
by 0x64 4y ago
> the "nothing at stake" issue inherent to proof-of-stake systems The "nothing at stake" problem was inherent to proof-of-stake more than six years ago. It has, since then, been solved on Ethereum (and Polkadot) with
32.
by 0x64 4y ago
What makes you think a network like this would be PoW in the first place? It could just be PoA.
33.
by 0x64 4y ago
You clearly don't live in a country bordering Russia. This is not an issue you will solve with de-escalation, it's a fundamental issue that stems from the fact that Russia has shown that nothing they say can be trusted. Try tellin
34.
by 0x64 5y ago
It has $5M in ether alone, plus over $1M in USD stablecoins.
35.
by 0x64 5y ago
"Staking" was definitely not invented by this protocol as a term, and is not really related to the consensus protocol, barring the fact that you lock up ("stake") some underlying token in a smart contract. Various protoc
36.
by 0x64 5y ago
The cost highlighted there does not include new issuance, as in block rewards which are paid by the network protocol. The entirety of that $9.9b are fees paid by users in the form of gas and tips. Since EIP-1559 was implemented in August, t
37.
by 0x64 5y ago
Depends on what you count as earnings; Ethereum did $9.9b in transaction fees and tips alone last year. [1] https://stark.mirror.xyz/q3OnsK7mvfGtTQ72nfoxLyEV5lfYOqUfJIo...
38.
by 0x64 5y ago
If inflation was bad, would destroying ETH not be a good thing since it leads to what's effectively an instant deflation of supply?
39.
by 0x64 5y ago
In 2019 you probably read about the launch of the PoS beacon chain, as in the "phase 0" of what was then known as the Eth2 roadmap. Beacon chain launched in December of 2020, and since then the work on the merge has been ongoing,
40.
by 0x64 5y ago
>A typical single-person household utilizes around 2-3 kWh per year, that is about ~1,000 times less, including your whole gaming setup all other appliances. What do you base your 2-3 kWh number on? Because there's literally no way
41.
by 0x64 5y ago
What's bad about Pi-hole?
42.
by 0x64 5y ago
You gain more power by having more money in both PoW and PoS. In PoW it means you can buy more hashing power, in PoS it means you can buy more of the network's currency to stake. Even under PoS, the network's upgrades still rely o
43.
by 0x64 5y ago
What makes Ethereum not viable? If you refer to the article you linked, the PoW network will be merged to the PoS network launched last year by June 2022. The first public merge testnet actually launched today! [1] [1] https://ha
44.
by 0x64 5y ago
Thank you for the intellectually stimulating response
45.
by 0x64 5y ago
I'm aware, but I don't know if there are any clear-cut solutions. I'm honestly not too knowledgeable on the issues surrounding MEV in the first place, beyond the obvious issues with censorship and the power large node operato
46.
by 0x64 5y ago
It's currently a standard Geth node due to storage limitations (a 1 TB disk for both Geth and Lighthouse). I'll bump the storage up next year to 2 TB (or more), so I can run an erigon archive node and thus won't need to prune
47.
by 0x64 5y ago
dYdX is a layer-2 zk-rollup-based exchange that is definitely not decentralized in the sense that e.g. Uniswap is on layer-1. It still, however, inherits the security guarantees of L1 despite not being directly intractable with from L1.
48.
by 0x64 5y ago
My origin story was being a nerdy kid interested in how I could turn compute power into magic internet money. Hardly criminal, wouldn't you say?
49.
by 0x64 5y ago
I'm one, with a node running within arm's reach from me; so make that two I guess
50.
by 0x64 5y ago
Dai, MakerDAO's stablecoin, is over-collaterized through various crypto assets and there's around $6.5b worth of it in circulation right now.
51.
by 0x64 5y ago
When did I claim such a thing? I claimed that the transaction fees were getting to fractions of cents.
52.
by 0x64 5y ago
I don't understand. Is the trick in your question the fact that you're inevitably paid in fiat and you have to buy crypto, thus proving that crypto is useless as a currency?
53.
by 0x64 5y ago
What steps did I skip? Some exchanges already allow withdrawals to L2s, and Coinbase is working on it. Once social recovery wallets like Argent start to onboard users directly to L2 (zkSync), L1 might as well not exist for the regular Joe s
54.
by 0x64 5y ago
On Ethereum: - The rise of decentralized finance. - Ownership through NFTs (I personally love ENS [1]). - Truly decentralized proof-of-stake ready for prime time, pending only the merging of the PoW network into the PoS network that launche
55.
by 0x64 5y ago
It's interesting how the discussion is always so incredibly black and white. Crypto doesn't have to fix every major problem in three separate categories for it to be relevant, or whatever HN typically proclaims crypto to not be. A
56.
by 0x64 5y ago
Maybe not less than a penny, but $0.20–0.35 on the cheapest Ethereum L2 rollups [1]. That'll drop by almost an order of magnitude more in the short-term if/when the calldata gas fee reduction EIP passes (could be medium-term if it
57.
by 0x64 5y ago
It's not a test chain, it's _the_ PoS chain that will be transitioned to. It's running on real Ether, over $30b worth of it. You're incredibly out of touch.
58.
by 0x64 5y ago
1. It’s already live on the PoS beacon chain, and has been since December 2020. 2. The specs for the transition are ready and it’ll happen next year. Target is before June. First long-lived Merge testnet goes live next month.
59.
by 0x64 5y ago
Even if you assume 100 watts of power per validator, it’s a >99% reduction in energy consumption. In reality, the average power consumption per validator is probably closer to 1–20 watts due to the fact that additional validator don’t st
60.
by 0x64 5y ago
There is nothing cool about dPoS. Compared to PoS, it's an objectively worse system in terms of decentralization.

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