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These blockchains have more development than you might think... Chainspect's developer dashboard shows data on how many developers are currently active on each chain, featuring expected names like Ethereum $ETH and Solana $SOL. However, it also details some chains with impressive developer numbers, but that are less widely known...

34,978 просмотров • 1 месяц назад •via X (Twitter)

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The modular era has arrived and NEAR is set to take centre stage. Introducing the NEAR Data Availability Layer. Hot off the press at NEARCON23, NEAR DA is set to launch to offer secure, cost-effective data availability for ETH rollups. 🌐 NEAR DA marks NEAR's entry into the modular blockchain landscape with the lowest-cost DA offering in the Web3 market today. It's a game-changer for projects building Ethereum rollups. Posting rollup data on NEAR is 8,000 times cheaper than on Ethereum. With powerhouses like Starknet (Privacy Arc), Caldera, Fluent, Vistara Labs, Dymension, and MovementLabs joining the initial launch, NEAR DA builds upon NEAR Protocol’s 3+ years of secure, reliable blockchain tech with 100% uptime. 🛡️ "We are super excited about this opportunity. Starknet continues to evolve and mature, and we are happy to see the variety of options Starknet developers have," - from Starknet (Privacy Arc). 🌟 "High throughput and low cost are important for the social, gaming, and consumer use cases we're focused on. These are things NEAR DA does really well and can't be achieved using Ethereum DA," shares Eggs, Dino from Fluent. 🎮 "Developers, and by extension their users, win when they have the freedom to use high-throughput and cost-effective DA layers like NEAR," - Matt Katz, CEO of Caldera. NEAR DA is not just about cost savings. It's about scalability, reliability, and accessibility. It's about reliability and integration with the Ethereum ecosystem. Supporting Ethereum L2s and high-quality projects launching app-chains. It's about building a more inclusive and efficient open web for all. 🌍 Developers and founders building on Ethereum rollups interested in using NEAR DA can visit to get started. Let's build the future of the open web. Together! 🛠️

NEAR Protocol

22,380,922 просмотров • 2 лет назад

Cross-Chain Arbitrage on Uniswap V4 (opportunities available) I’ve always been curious: how much do prices actually differ between the “same” Uniswap V4 pool deployed across different chains? Think ETH/USDC on Ethereum vs on Unichain, Arbitrum, or Base . They’re technically the same trading pair, but entirely separate pools, with different liquidity, fees, and most importantly, prices. So I built a dashboard to monitor exactly that. It tracks real-time price discrepancies across Uniswap V4 pools on different chains. Why? I was curious. I wanted to understand: - How often do mispricings occur? - How big are those discrepancies? - And perhaps most interestingly: how fast are they arbitraged away? On the same chain, arbitrage between DEXs is well understood. You can create a smart contract that executes a set of swaps atomically, either guaranteeing profit or reverting the transaction. But cross-chain? That’s a different game. Different chains mean different execution environments, timing issues, and gas fee structures. It’s harder to coordinate. It’s also harder to monitor... What I’ve Built (So Far) Right now, the dashboard monitors the ETH/USDC pair across four chains in real time. You can visually see: - Realtime ETH price on each chain - Size of most recent trades indicated by bubble size - Max current spread available. I've only finished it this afternoon and after watching it for 15min I've already spotted a few times where the mispricings are significant. I want to add more pairs and chains soon (super easy actually) - just don't want to clutter it before getting more feedback and ideas. I’ve dropped the link to the dashboard in the comments below. If you’ve built a cross-chain arb bot, I’d love to hear how you approached it!

jonjon

45,137 просмотров • 1 год назад

In Q2 2024, queries on The Graph Network reached all-time highs following the completion of the Sunrise initiative ☀️ The new record? 3 billion queries in a single quarter 🤯 Additionally, The Graph’s core devs shipped several exciting new features, significantly enhancing the developer experience on the network 🔥 Here are the top 7 key takeaways from the Q2 2024 Participant Update ⬇️ 1️⃣ The Graph Network experienced significant growth, serving nearly 3 billion queries in the quarter—an almost 100% quarter-over-quarter increase. 2️⃣ With the Sunrise of Decentralized Data concluded, over 7,000 subgraphs are now active on The Graph Network. This includes projects like Aave, ens.eth, Art Blocks, Balancer, Snapshot, Decentraland, Lido, Messari by Blockworks, PancakeSwap and Sushi.com. 3️⃣ Scaling via Arbitrum on L2 is officially complete. Queries and fees are now being processed exclusively on L2. 4️⃣ StreamingFast ⏫ launched Codegen, a no-code tool, which prompts developers with questions to auto-generate fully working Substreams. It provides a complete developer environment that remotely compiles the project. 5️⃣ GraphOps | graphops.eth launched GraphSeer, an ecosystem dashboard showcasing Indexer and subgraph deployments data. It’s designed to empower Subgraph Users, Indexers and Delegators to optimize their performance and maximize their impact on the network. 6️⃣ With the help of InfraDAO, new chains continue to integrate with The Graph and complete the official Chain Integration Processes (CIP). Recently integrated chains include: BNB Chain, Base, Linea.eth and Scroll with many more in process. 7️⃣ Bridge Builders DAO continued to provide expert support to web3 builders including supporting in person hackathons at ETH Kyiv and Hack’n Heights. Additionally, BuildersDAO just launched a new website, to better showcase all the ways they can support subgraph developers and The Graph ecosystem. The Graph's Q2 2024 Participant Update shows that with the conclusion of the Sunrise, web3 clearly values a decentralized data layer. Core devs continue to ship meaningful upgrades designed to improve the developer experience and lay a strong foundation for an action packed second half of 2024. Don’t miss any of the details from The Graph’s Q2, 2024. Watch the full update featuring Eva Beylin, 0xMaxTang, , Etienne Brunet, and caro f here:

The Graph

23,433 просмотров • 2 лет назад

"Something interesting that Vitalik mentioned was that none of that [Ethereum scaling] roadmap took into account AI developments. My kind of personal hot take is they're actually gonna ship this [strawmap] faster than people think. Iterations in things like Claude, helping out with the Ethereum developer community." - Nomatic ---------- "No one's ready for Ethereum to actually ship faster than what we think. No one's ready for Ethereum to actually go into like the driver's seat of winning mode, while retaining the most important quality, which is decentralization. I mean, as software becomes more commoditized and as development cycles get faster and faster, it's gonna be easier and easier to spin up new chains. But the one thing no one can recreate is a fully decentralized smart contract chain. Ethereum has the most amount of nodes. That can't be recreated. If anyone wants to cut corners and try and create a blockchain, they need a tiny validator set. They need a centralized validator set. Everyone knows what the tradeoffs are. So Ethereum kind of has the best of both worlds where it went slow when it needed to, during regulatory overhang, and now it can go a lot faster than people think. It's gonna be post-quantum money way faster. It's gonna be money for AI agents way faster than we think. And I think it'll flippen Bitcoin faster than we think as well. And I think that needs to happen during a bull cycle." Vivek Raman, CoFounder of Etherealize

DeFi Dad ⟠ defidad.eth

17,022 просмотров • 2 месяцев назад

Here's why $NEAR is a no-brainer in 2025 👇 Everybody loves NEAR Protocol and there is a reason for that (or many). Near is well-positioned to be one of the leading blockchain ecosystems this year. Let’s explore the “whys”. TIMESTAMPS Quick Bio – 00:00:15 Inflation Reduction Proposal – 00:00:43 Technically Speaking – 00:02:40 Near Intents – 00:03:37 Chain Signatures and AI – 00:04:39 Decentralization and DeFi – 00:05:59 I have my Near account since March 2023, but it has been inactive for a while, as I was focused on other stuff. However, the recent inflation halving proposal by HOT DAO (HOT Protocol 🔥) and LiNEAR (LiNEAR Protocol) brought my eyes back to the project and I really like what I’m seeing. So, here’s my first point. If this proposal passes, NEAR could lead the way in what appears to be a market trend of improving the tokenomics, as more and more experts realize holders have been overpaying for these networks' security, with a too high supply inflation. Solana tried something similar, but the proposal was rejected. In my opinion, validators voting favorably to that show a commitment to the chain for the long term. On the other hand, voting against it signals a short-term vision focused on milking the emissions as much as possible, at the ecosystem’s expense. The voting currently goes with 28% “YEA” votes, needing 66.76% to pass. Most of the validators who already cast their votes went with the yes. 2pilot, avb, openshards, qbit, sicmundus, fox, and intear are, so far, the only seven who voted “NAY”. This proposal has the vocal support of most influential figures in the Near ecosystem, including the Near Foundation (NEAR Foundation), led by Illia (root.near) (🇺🇦, ⋈), which makes me believe it will pass and show the power of the halving in getting the market’s attention and presenting a huge investment asymmetry for the native token right now. Is this everything I like about NEAR? Definitely not. This is just what got me looking at it again, just to discover a (very much) thriving ecosystem, full of interesting things happening at the same time. I’ll mention a few, but there is (much) more. Technically speaking, Near is a high-performance blockchain, with really low fees and one of the fastest finalities, with 600ms block time and approximately 1.8s finality. It also has my favorite architecture for internet-scale scalability, using sharding, while keeping a high decentralization standard. As a learning programmer, Near also has one of the best dev experiences (in my limited opinion). The documentation is clear, has a logical journey, presenting from the basic anatomy in details to more complex SDKs and tools. I’m also in love with the near-cli-rs. A command line interface program written in Rust for seamless interaction with the Near blockchain. Allowing wallet creation, chain query, sending transactions, staking, smart contract calls, and more. Near Intents. This was the second thing to get my attention, while studying the project again, and it sets a whole new standard for blockchain interactions, especially cross-chain. Basically, users can declare an intention (for example, swap Ethereum-USDT to Bitcoin) and a network of solvers, running on Near, will find the best path to accomplish this task. We recently saw an impressive 465k-worth swap happening in exactly this example, paying 0.55% of trading fees to thorswap.near and swapkit.near. According to a Dune Dashboard, the protocol accumulates nearly $400 million in volume since its launch not long ago, in November 2024. *obs.: half this volume was achieved in the last month. Massive! Near Intents is possible due to two other very interesting things: (i) Chain abstraction, and (ii) a solid AI infrastructure. Chain abstraction (via Chain Signatures) is a powerful interoperability feature, allowing Near to friendly connect different blockchains as if they were part of a single network. Users and devs benefit from wallet, address, fees, and cross-chain bridges abstractions - not even noticing they are interacting with multiple chains. One wallet that powers everything. Powered by Near. On AI, Near is just built differently. Not for the hype, but for the solution. The team has been looking for AI solutions much before the ChatGPT fever. Actually, they started as an AI company, pivoting to blockchain later. So, being one of the most promising networks for the growing AI economy was just the natural path to follow. There is an extensive and super complete research piece on that topic, recently published by Reflexivity Research (Reflexivity Research) on July 1st. It presents Near as an AI-optimized blockchain, covering AITP, Shade Agents, x402, Near Intents, and more. Definitely worth the reading. Wrapping up this content with one more aspect that really matters to me is how Near remains truthful to decentralization, data ownership, censorship-resistance and open-source primitives that have been increasingly abandoned by other key players. A simple example of that is how the Near Foundation decided to deprecate its public APIs, encouraging the surge of a more decentralized and competitive market of SaaS projects, with a highlight to Lava Network, that recently appeared in my timeline talking about that. DeFi is also huge on Near, leveraging all the previous properties I mentioned, creating a truly decentralized liquidity pool via Rhea Finance, connected with other chains like BTC, Ethereum, ZCash, and more. All that contributes to Near having the second-largest monthly active addresses, with nearly 50 million, only losing to Solana’s nearly 90 million. In the meantime, NEAR, the token, is not even at the 30rd position by market cap. Crazy stuff. To (finally) wrap it up, I also want to mention Near’s consensus decentralization. While having a low node-count, the network has a Nakamoto Coefficient of 11, which is not bad at all. Surely, there is still room for improvement, which is possible as becoming a validator is accessible staking and hardware-wise. If you liked this content, make sure to click the like bottom and share it around. Follow me on X or subscribe to my YouTube channel, both at vinibarbosabr. See ya!

Vini B |「 thecoding 」

40,183 просмотров • 1 год назад

If you know #Python you can now build Apps on a blockchain. #Algorand is a permissionless operating system, anyone can build on it. Transaction fees are low meaning it's not expensive to use. Algorand has never had any downtime so it's reliable and is one of the rare blockchains with instant finality. Over 10 million Python developers are now able to use what they've learn't through writing in the Python coding language and apply it to a blockchain for the first time. It's going to be interesting to see what people start building, we're building a low poly virtual world 🌐 Developers no longer have to learn complicated and relatively unknown languages like #Solidity or #PyTeal to be able to build #Decentralised applications. In under 10 minutes, you can start building on a blockchain. If you'd like to get started or learn more then check out this link and follow the Algorand Developers. The barrier to entry for blockchain development has now significantly been lowered. Algorand may start to out develop blockchains like #Ethereum and #Solana, partly because of the access to a developer pool 300 times bigger than the Solidity developer pool. But also because Algorand doesn't crash, have failed transactions or cost much to use. 😆 😌 🤔 ✨To help us spread the message and have a chance to win a share of 1m $NIKO ($900) then please like, retweet, follow rxelms and tag 3 friends in the comments using the emoji 🐍 10 winners will be selected in 48 hours, to be eligible you must have over 50 followers. Thanks and good luck.

rxelms

73,551 просмотров • 2 лет назад

Tomorrow, we publish a new The Edge Podcast with Robinhood GM of Crypto, Johann Kerbrat. This clip might be the clearest articulation I’ve ever heard on why Ethereum's roadmap is working, and why Robinhood chose to build its own L2 using Arbitrum. + Ethereum offers security, with proven decentralization + New L1s = centralized databases + EVM liquidity is essential for tokenized stocks & RWAs + Arbitrum’s tech stack wins on engineering merit No edits. No spin. Just a major U.S. fintech explaining why they’re building the future of finance on Ethereum. Real validation for those of us who are long term Ethereum/ETH investors. Here is the clip and transcript for Johann answering why Robinhood chose to build its own Ethereum L2: "You see a lot of companies right now building their own L1. And for us, we felt excited about this idea where we can control anything that we want to build and we don't have to deal with any other chain to talk to or anything like that. But at the same time, creating the security of a real proper decentralized chain is extremely difficult, as you know. And we basically get that for free with Ethereum. The network has been going on for a very long time now and the security is stable and it's decentralized. And I think that's really the key two points that we wanted to have. When you look at some of these new L1s that are being created, it's not really decentralized and it's not really secure. So at the end of the day, you're basically having like a... fancy database that is probably a bit slower to use than an actual database. And so we didn't really see the value in that. With Ethereum, we get the security by default. The second thing that we get by having an L2 is that you get all this liquidity that is already part of all the EVM compatible chains. And that was also a very important decision factor for us. If we really want to bring the stock market onto the chain, we need to have this liquidity. It's not going to be possible if it's in a closed loop or in a closed chain that nobody can access and you need to have like 20 different hoops before you can bridge to that chain. So for us, that was kind of the two elements that we really wanted to focus on and that's why we decided on building on Ethereum. And then we decided on Arbitrum mostly because we love the technology. There's a few things that we are excited about. For example, Stylus. It's a way that we can basically use different language into the chain and we can build on top of that. We also like the way that they prioritize transactions that is, we think, a better way than some of the competition. And so basically we'll use the Arbitrum stack and we'll create our own L2, which will make us also compatible with all the Arbitrum chains. And so we think it's kind of the best of all the worlds. But for us, the idea is like we will start with public stock, and then we think that we can tokenize anything really, not just stocks. It can be private stock, it can be art, it can be real estate, whatever you want to think of. And so we really wanted to have a platform that is kind of easy to build on and we can keep adding on it. At the same time, we know that regulation are going to be hard on some of these products, especially when it comes to financial products. You always have different regulators. You have different rules depending on the region. If you're in the EU versus the US versus LATAM. And so we felt like we wanted to have our own layer that we could customize for these needs. And then anyone that is building on the chain will also be able to benefit from what we are building, versus just putting everything in a contract that will be just good for the people that are using the Robinhood contracts. But so at this point, we announced the chain in June. We are in private test right now, and then we'll do more announcements in the future." Subscribe for the full episode tomorrow! ► Newsletter: ► Spotify: ► Apple: ► Youtube: ► Pods:

DeFi Dad ⟠ defidad.eth

62,600 просмотров • 8 месяцев назад

I'm excited to announce Universal, and our $9M round led by a16z crypto. Universal fundamentally improves how assets move and trade onchain. You can now trade spot assets like SUI, DOGE, and XRP directly on your preferred chain without bridges or centralized exchanges. The problem is simple: crypto is fragmented. So many chains, so many assets. If you're trading on Base but want exposure to something like SOL, DOGE, or XRP, you have to bridge or find your way back to a CEX. This creates unnecessary friction for users and severely limits which assets developers can use. Universal solves this with uAssets - wrapped tokens that are backed 1:1 by verifiable reserves held in Coinbase Prime. Each uAsset can be natively minted and redeemed on-demand across any supported chain. Since going live, uAssets have already seen over $850M in trading volume. Traders: this means you can finally trade 80+ new assets without leaving your preferred chain. No bridges, no CEXs, no fragmented liquidity. Plus, you can put your uAssets to work in DeFi. Provide liquidity on Aerodrome, lend on Morpho Labs, and much more. Builders: You can now integrate those 80+ assets that were previously unavailable on your chain in a few lines of code through our Universal Relayer API. We’re actively working on dozens of new integrations. Reach out. As of today, we support Base, Polygon, and Arbitrum, with Solana, World, Monad and many more coming soon. Try Universal now at or build with us at

gaut

231,509 просмотров • 1 год назад

Some personal hot takes from AI: engineer Miami follows... 1. Software development is a dead-end profession because anyone can be a software developer now. 2. Anyone can use Cursor or any other tool and generate code. Being a coder and being a software engineer are different. 3. Computers used to be gated; now everyone has the power to make computers malleable. Everyone is a software developer now, but that does not mean they are software engineers 4. If you cannot demonstrate how a coding agent works, you are just a consumer and have imposed an artificial glass ceiling on your career as a software engineer. 5. If you are curious, you will have a job. If you have not been curious in the last two years, you are replaceable. 6. SaaS per-seat economics may become unstable as customers need fewer people to achieve results, prompting founders to think about new unit economics 7. Most companies will take two or three years (or more!) to figure out AI transformation. 8. Some companies are already building AI native teams of five to ten people who can build with the grain of AI 9. There will be an explosion in the number of software developers. Software development is now essentially free, and tokens are cheaper than humans 10. Not enough engineers know what it means to be a product engineer 11. JIRA ticket monkeys are cooked 12. If your company has banned AI, you should quit that company 13. AI is more like a musical instrument than just a tool play with it, make discoveries, build intuition learn where AI is good and where it fails

geoff

64,193 просмотров • 1 месяц назад

Whoa...Florio heard what I heard. And there are way too many fans who know exactly what Geno was talking about. Florio is right. He heard it right. Some guys need to lock in. And the comments about Duke? The comments about heads rolling? I've told the story about what happened after the loss to the Texans when Marvin's offense hadn't scored a TD all year. Mike Brown pulled everyone into a meeting, and Mike got fired up. There's a limit. It's probably higher than many fans like, but there's a breaking point. I've been saying it. Now, Florio is too often full of shit, but the organization knows how it runs. It knows who's responsible for what. There's too much data. There's too many resources out there. And now there are too many people talking about the analytics, the process improvements, the easy buttons on talent acquisition. I've encouraged people to write letters, professional letters backed by data, but I'd bet some people with far more money than we all have may have already picked up the phone. The information is way too widely available, and if it wasn't already known, then given a path forward to a better way, the owners are going to eventually make the changes necessary, or lose major gains of the past 5 years. Change may not be terminations. But just the idea that Florio thought to say this, with his opinion of how this team operates, makes me think there's more to it than all of us screaming. Whatever it is, it's a glimmer of hope that the problem is seen, and the solutions are known. Now, to take action.

𝗕𝗲𝗻𝗴𝗮𝗹𝘀𝗖𝗮𝗽𝘁𝗮𝗶𝗻

66,844 просмотров • 9 месяцев назад

In Q1 2024, The Graph Network saw substantial growth in queries, reaching an all-time high of over 1.5 billion, up 65% from just shy of 1 billion in Q4’23. This growth accompanies updates recently shipped by core devs, enabling developers to easily take advantage of low cost, reliable and permissionless decentralized data ⚡ Here are the top 8 key takeaways from the Q1 2024 Participant Update ⬇️ 1️⃣ The Graph Network experienced significant growth, serving 1.5+ billion queries—a 65% quarter-over-quarter increase. Additionally, the number of subgraphs published on the network grew by over 30%, exceeding 1,900 subgraphs. 2️⃣ The Sunray Phase of the Sunrise of Decentralized Data concluded with the launch of key developer centric features including a free query plan, payment by credit card or GRT with access to 5️⃣0️⃣+ chains on the network. 3️⃣ The Graph added support for Bitcoin data by introducing a Bitcoin explorer module, a composable BRC-20 Substreams Module and a BRC-20 Substreams module, facilitating the integration of data into subgraphs for GraphQL queries. 4️⃣ Members of The Graph’s leadership teams traveled to Asia and participated in community events, engaged with the local web3 communities and strengthened The Graph ecosystem’s relationships with key thought leaders in the region. 5️⃣ Looking ahead, Sunbeam (Phase 2 of the Sunrise of Decentralized Data) concludes on June 12th. This milestone marks the end of the subgraph upgrade window in which hosted service subgraphs must upgrade to the network. 6️⃣ Firehose is now integrated with Go Ethereum. The 44% of Ethereum devs that make use of GETH can now get natively deeper insights, more precise event ordering, pattern matching, simpler and a more reliable integration, lower latency and super fast reprocessing times. 7️⃣ The Graph is saving the blobs! Developers now have two ways to access blob data (EIP-4844) - through either the consensus layer or the execution layer. 8️⃣ The Graph ecosystem can expect many exciting announcements coming in the near future around new data services live on the network and served by an ecosystem of Indexers earning GRT. Core Devs (Edge & Node, StreamingFast ⏫, Semiotic AI, The Guild, Messari by Blockworks, GraphOps | graphops.eth, Pinax, and ) will continue to execute on the New Era Roadmap by integrating SQL query capability and a SQL data service, File Hosting Service, new micropayment system Scalar TAP, AI data services and more. The Graph's Q1 2024 Participant Update establishes a clear watermark for web3 and decentralized data. The Graph’s expansion across many chains as well as progress on new developer experience enhancing features and new data services is expanding what’s possible with decentralized data in web3. Accessing more diverse data across more blockchains has never been easier for dapp developers and data consumers. The best part: The Graph has many more big announcements to come throughout 2024 🌟 Don’t miss any of the details. Watch the full update featuring Eva Beylin, Tegan Kline, 0xMaxTang, Etienne Brunet, and caro f here:

The Graph

27,410 просмотров • 2 лет назад

WARNING: THIS IS NOT A TEST 🚨 Global telecom goes live on Hedera. Ripple gains access to $8T+ market. Solana crosses $1B RWA TVL. DTCC hints at future L1 & L2 integrations. New XRP super platforms emerge. Telcoin advances regulated banking. Grayscale says the cycle has changed (Link & Solana). Today was one of those days that reminds you we still have no real grasp of how big this industry is going to become: • One of the world's largest global telecom's announces they are 100% live on Hedera ~1,300 suppliers (Tata Communications) • Ripple expands into $8T+ trading engine, institutional markets via LMAX partnership (RLUSD) (core collateral asset) • XRP Ledger new native lending + wallet infrastructure via EasyA Labs Dom Kwok | EasyA Phil Kwok | EasyA • XRPL super app being built by Anodos 🔼 • Solana crosses $1B+ in real-world assets (RWA) total value locked (TVL) and integrates Starknet (Privacy Arc) via NEAR Protocol • Depository Trust & Clearing Corporation shines a light on L1 & L2 integrations “DTCC will offer its tokenization service across multiple Layer 1 and Layer 2 networks to enable a more interconnected, scalable, and efficient digital environment.” • Grayscale believes four-year cycle is broken, widely-adopted networks like Chainlink and Solana institutional appetite growing similar to Bitcoin and Ethereum • Telcoin continues telecom, stablecoin + regulated U.S. banking adoption $HBAR $XRP $LINK $SOL $BTC $ETH $TEL $LINK $RLUSD $ESDR $EUSD

King Solomon (Ryan Solomon)

61,762 просмотров • 6 месяцев назад

Vitalik Buterin explains why proof-of-stake is more secure than proof-of-work “I think proof of stake is very secure because to attack the system, you need to have basically as much stake as the rest of the network. Right now, for example, we have 5 million ETH staking, which means you have to come up with 5 million ETH and then join the network.” At the time of this writing, more than 37 million ETH are being staked, with 3 million ETH waiting to join via the validator queue. At today’s prices, that’s more than $80 billion of ETH someone would have to acquire to attack the network and revert finalized blocks, which is more than the cost of attacking even the Bitcoin network by some estimates. The other defense mechanism that proof-of-stake has that proof-of-work doesn’t is slashing, which makes Ethereum antifragile. Vitalik explains: “Recovering from attacks is much easier in proof-of-stake than proof-of-work. For many kinds of attacks you do against [the Ethereum] network, we have this concept of automatic slashing. In order to revert a finalized block, you basically have to have a big portion of your validators sign two conflicting messages. This is something where once these messages are on the network, you can go and prove ‘these people did it.’ So we have this feature in the protocol where you basically take all these people who provably misbehaved and you burn their coins.” Vitalik also acknowledges the possibility of censoring attacks, where if 1/3rd of validators refuse to attest, the chain can’t finalize. But, as he explains, Ethereum has a contingency plan for this as well: “Everyone who got censored would create a minority chain, and the community would have to do a soft fork. The would have to say, ‘this chain is clearly attacking us and this one is not attacking us, so we’re going to join this chain.’ Then what happens is, on that new chain, the attackers also lose a lot of coins. The difference between proof-of-stake and proof-of-work is that in a proof-of-stake system, you can identify specific participants — and this isn’t a human going in and saying ‘I don’t like you’. It’s all automated.” One last benefit of proof-of-stake is that security scales with the value of the network. As Vitalik put it five years ago, it is really relative security, and not absolute security, that matters: “The security needs of a thing have to be proportional to the size of that thing, because as a thing gets bigger, its enemies become bigger and more well-motivated. If BTC were 100x as big as it is today, the value from destroying it would be 100x higher, and the kinds of actors that would want to care about destroying it would be much bigger and scarier. This is also why countries of all sizes have roughly similarly sized militaries as a percentage of GDP. Hence, cost of attack divided by market cap really is the correct statistic to measure, and in the long run issuance-free PoW really does look not that good." Source: Lex Fridman (Jun 2021)

Etherealize

102,010 просмотров • 4 месяцев назад