mattdesl

26 ms·

301.
by mattdesl 4y ago
The purchaser paid that fee to the protocol (miner + burn), not the seller, to have their transaction processed before others in the mempool and settle the trade in < ~30 sec. They could have set a smaller fee ($10-100) and gone for lunc
302.
by mattdesl 4y ago
you point an ENS name to an address (a public key hash). in a system built on private/public keys, it can be useful as an alias. the “IP”, or address in this case, is my own , because it is directly generated from a 24 word seed phras
303.
by mattdesl 4y ago
> If nobody has an issue with it, why are you talking about an alternative to it? this entire far-too-long discussion I’ve participated in stemmed from the notion that blockchain’s goals are already better solved by existing solutions. I
304.
by mattdesl 4y ago
The whole point of the distributed ledger is that no single entity can “take away” ownership of, say, an ERC721 (NFT, which domains also are) without access to my keys. Websites can de-list this but anybody can still see it clearly indexed
305.
by mattdesl 4y ago
Sure, they are apples and oranges. Namecheap will likely never be able to match these settlement times, 0-2.5% fees, data privacy, interoperability etc. If they decide to one day sell crypto domains like ‘.eth’ and ‘.tez’, they will be ente
306.
by mattdesl 4y ago
My original comment[1] is responding to the notion that crypto's technical problems are better solved by non-blockchain alternatives. The most common alternative is placing trust in an Amazon or Google database, or another tech corpora
307.
by mattdesl 4y ago
“We don’t need peer-to-peer digital assets when we can just trust [insert major tech corporation]” tends to be the common answer to my earlier question a couple comments up.
308.
by mattdesl 4y ago
The scope of the problem is basically what is happening on Uniswap (peer-to-peer swapping of ERC20 tokens) and Opensea (peer-to-peer swapping of ERC721/1155 tokens), which together account for the vast majority of Ethereum's daily
309.
by mattdesl 4y ago
Trusty ol' FAANG.
310.
by mattdesl 4y ago
I'm not sure what point you are making. Using a blockchain doesn't mean you no longer need trust. But it can be used as a tool to help build social consensus about certain digital state/records without placing the data in c
311.
by mattdesl 4y ago
Namecheap: 10% commission, only works with Namecheap-registered domains, the exchange may take up to 96 hours, and then 5 days later you can withdraw these funds to PayPal (which will incur additional fees). Compare this to, say, Tezos doma
312.
by mattdesl 4y ago
A company like Blizzard that might define ERC20WoWGold can fork the blockchain to try and alter a record on their contract, but it would have little effect. A successful fork requires a consensus across the majority of developers and users
313.
by mattdesl 4y ago
These problems (the desire to find peer-to-peer systems to transfer and record digital assets) predate blockchain/crypto.
314.
by mattdesl 4y ago
This is a pretty stupid argument; WoW and FF14 gold are not assets defined on the network. The goal of Ethereum is to record Ethereum-based assets (e.g. ERC20, ERC721), not to record the exchange of every asset on the web. > I can alread
315.
by mattdesl 4y ago
Perhaps, but my original question was around digital assets across the internet (and ideally on a global scale). If you are trading a plush toy for a coconut the "atomic swap" could be done with each party's two hands.
316.
by mattdesl 4y ago
A centralized escrow is not heresy; it involves a different set of trade-offs. In some cases the decentralized escrow might be more appealing. To go back to my original example of a domain transfer, the exchange can occur in a matter of sec
317.
by mattdesl 4y ago
Consider a simple answer: my ENS domain is one of the few digital assets I own (and have “digital ownership” over) that is not inextricably linked to a single corporately-owned user account (that ultimately has full control over the asset
318.
by mattdesl 4y ago
The assets are “real” in the same way domain names are “real.” These are social constructs, maintained by social consensus. It is very easy to come to a shared consensus about what address “mattdesl.eth” points to, because the history is re
319.
by mattdesl 4y ago
If this has been done many times in a way that solves my original question (decentralized escrow), there should be some concrete examples you can point to besides blockchain/crypto systems.
320.
by mattdesl 4y ago
Transactions are broadcast with RPC. Once accepted and written to the ledger (ie: after a number of confirmations), you can verify the state of the transaction via your own local node. It is impossible to completely remove the need for trus
321.
by mattdesl 4y ago
What you are suggesting sounds like a consensus mechanism. How do you safely choose which peers to assign this responsibility? How do you ensure it is resistant to a Sybil attack? Suddenly the answers begin to look a lot like Proof of Work
322.
by mattdesl 4y ago
If both assets are defined by the same blockchain protocol, a contract can be written that provides both users the ability to deposit the two assets into it. Only once both assets have been deposited will the atomic swap occur. And at any p
323.
by mattdesl 4y ago
As usual, “just trust Amazon or Google” which is centrally owned, and not peer-to-peer (distributed/decentralized), and not an answer to my question. > You're mentioning a .eth domain name being bought with cryptocurrency as an
324.
by mattdesl 4y ago
The whole point is peer to peer transfer of digital assets and digital state that is recorded on-chain . The goal is not “how to transfer a physical asset.” These assets do have market value (despite your own personal feeling on what t
325.
by mattdesl 4y ago
I gave an example here[1]. The typical answer is "just trust a third-party service" which side-steps the constraints in the question. FWIW there is a variety of reasons you may not want to use a service like escrow.com — they take
326.
by mattdesl 4y ago
> technology does not solve technical problems that havent been solved better Critics like Diehl repeat this often, but without ever referencing the solutions. What non-blockchain solution solves the double spend problem when transferrin
327.
by mattdesl 4y ago
Lightning Network is a Layer 2. State channels also exist on top of Ethereum, such as Raiden Network and others[1]. The Eth core devs and users are more interested in rollups due to them being general-purpose[2], i.e. suitable for applica
328.
by mattdesl 5y ago
> Is it possible that blockchain has already reached maturity Simply put, not at all. There are several massive developments that need to occur. These are mostly in the context of Ethereum but likely all blockchains would benefit from su
329.
by mattdesl 5y ago
This seems to ignore Ethereum's rollup-centric approach to scalability. Many of those interactions you mention (such as sending coins, interacting with a smart contract) can be batched and, in a single L1 transaction, their integrity v
330.
by mattdesl 5y ago
But, 1) your past media and posts are not migrated to the new instance, so your timeline effectively has to 'start over', and 2) from what I understand the move is not seamless; you must announce your account has moved, and hope t

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