Ethereum is a congested piece of shit

He’s in Cardano, cut him some slack. Hard to keep up when you’re already years behind

Layer 2 scaling of ETH is still ETH.

miners just voted to raise gas limits

if you paid 16 cents, you transaction would go through in 1 minute

Exactly why we need LOKI adoption to take off
Oh you didn't know about Lokinet?

Good thing ETH is the chosen public settlement layer by big enterprise

Fuck off, why should i pay 16 cent for a transaction of 20$? 7 cent is already way too high imo

Yeah. Saw Peter freaking out. Bit of a shit show. We’re still very early as “adoption” is mostly useless speculation. Still very possible for other chains to actually grab adoption when we are really and truly using blockchain for everyday solutions. There could be multiple successful L1 chains when all is saI’d and done and people really discount the possibility of a Google or someone else just making their own that everyone will instantly flock to.

Exactly. That's why saying "ETH will be replaced" is silly.

It’s a good thing I put 100% of my money into the middleware they are all reliant on. I couldn't give a fuck who wins the settlement layer race

Ok vitalik

Today. What would happen if Google released their own? How quickly would that change? What kind of disruptions would that bring to these “big enterprises”? Not much because they aren’t really using it for much right now. We’re still very early in “adoption” as most traffic is speculation and useless transfers within the ecosystem. Yes, the time is coming when really important things will rest on blockchain, but there’s nothing that says Ethereum wins out other than it is the leader right now. I remember a time when Lycos was a big deal and no one ever heard of Google. Just remember that lots can change from the time of early adopters to actual widespread mass adoption.

“Replaced” is a figure of speech user, I apologize because I see why you would have taken that literally. What we mean is that 90% of the work is done off chain via Arbitrum and LINK, with the remaining 10% just being the recording of the event on the settlement layer. Some anons have compared ETH2.0’s fate to essentially a decentralized storage base, where nothing is really compututated, rather just recorded. So, yes ETH will exist, but it’s purpose will be severely diminished with layer 2 functionalities.

kek underrated

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Same thing applies to LINK though, some other oracle system could come along. I like both of them, bought the presale for LINK even, I just think it's dumb how some LINK holders try to diminish ETH lately. Yeah, it's great the LINK will work with any chain though.
That makes more sense, but layer 2 functionalities help ETH more than they hurt it.

Oracle is winner take all. So yeah, I have LINK too. But I’m far less sure about L1. I think Eth2 is going to be pivotal, but more about how and when the rollout occurs. The longer the delay, the more opening there is for actually non-shit chains to show their worth and gain actual adoption. My smooth brain likes the approach of Cardano going after third world country clients to facilitate the digitizing of many institutional processes.

>the link

Yeah, made a type there. Should say "that LINK." I just woke up fren.

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It’s possible, but not likely. Baseline protocol was just created by Microsoft and EY to onboard other enterprises to the ETH chain. They’ve discussed how their intent with the project is to create a “standardization process” to onboard other enterprises. Wolpert, Rhodes, Hudson have talked about how they are creating a “baseline” so that other enterprises have a standard to work off of, according to them this is a major hurdle to getting banks and big enterprise to adopt a public protocol. Google could create their own in house solution but how would it differ from other in house solutions like Hyperledger? Many in the space have been vocal about the added benefits of using a public chain. That wasn’t possible before due to security concerns. Now you have tech advancements like Secure Enclave’s, tsigs, Mixicles, trusted execution environments to securely process sensitive information off chain then relay it on chain securely and reliably without revealing the sensitive info. ETH has network effects like no other settlement layer, public or private.

If Google made their own it would worthless. Ethereum has value because it's not like Google. People don't like the idea of trusting shady companies, especially when there are trustless alternatives that provide a superior product. Sure things can change quickly, but it won't be because of a jew making goycoin. Either ethereum solves scaling or someone else will. We all know Google is incapable of such a task.

Pretty much this. Using a private settlement layer undermines the entire premise of using a blockchain solution in the first place. Public layers are immutable and transparent and some have robust network effects which allow for inherent security guarantees. You can’t necessarily say that about a closed source, mutable private layer.