constant escape

winter withered, warm
Like the sound of it, and I'd be happy to give feedback, at whatever point. If I come across any similar/relevant projects, I'll mention them here. Tezos seems to be culturally territorializing around gaming and art, but perhaps it's too early to say if those will be its strengths.

Good to have woman-oriented services and content in this space. Bit blokey thus far.
 

Leo

Well-known member
whoa

First on CNN: US recovers millions in cryptocurrency paid to Colonial Pipeline ransomware hackers

...behind the scenes, the company had taken early steps to notify the FBI and followed instructions that helped investigators track the payment to a cryptocurrency wallet used by the hackers, believed to be based in Russia. US officials have linked the Colonial attack to a criminal hacking group known as Darkside that is said to share its malware tools with other criminal hackers.

FBI director Christopher Wray: "I don't want to suggest that this is the norm, but there have been instances where we've even been able to work with our partners to identify the encryption keys, which then would enable a company to actually unlock their data — even without paying the ransom," he said.
 

wild greens

Well-known member
Personally I think a lot of the technology that was meant to be decentralising the qoels- or whatever the theory is- has already become outdated and that includes current crypto iterations

It will be the truly anonymous coin that ends up being worth the amount most people thought BTC would, or the one that is perceived as anonymous at least.

This doesn't help people's failing crypto portfolios (or mine, though I have cashed out several times over the years), but that's what you get when you think drug market tokens will change the world I guess
 

Clinamenic

Binary & Tweed
Apparently Ethereum just had 13 straight green days, for the first time. I took a cursory look at the chart, and it seemed to be true, but I didn't go any further than that. Also just had a major update that changes the economics of the native currency ETH, making it less inflationary and perhaps even deflationary past a certain point, but I'm still working it out.
 

Clinamenic

Binary & Tweed
The transition from proof-of-work to proof-of-stake is being equated to a family completely renovating their house while continuing to live/operate inside it.

The metaphor works to an extent, but really the transition seems more like if the family was continuing to live in the old house, while virtually designing their new house, which will more or less instantaneously replace their old one once the design is finished.
 

Clinamenic

Binary & Tweed
Just watched a basic 90-min intro to writing smart contracts in Solidity, which I gather is the language for Ethereum, but I'm not sure if it is a language tailored for Ethereum.
 

william_kent

Well-known member
This article tries to explain the significance of Ethereum's 'London' Fork - I don't know how successful it is though - I got the impression that less gas would be involved
 

Clinamenic

Binary & Tweed
This article tries to explain the significance of Ethereum's 'London' Fork - I don't know how successful it is though - I got the impression that less gas would be involved
"Rather than holding a blind auction every block to determine the gas price, ethereum’s protocol will algorithmically decide the transaction fee based upon overall demand on the network."

Yeah there was somewhere else I read that the gas fee would depend on network traffic still, but would have something to with a 50% threshold of network throughput/capacity. If the network was operating under 50% capacity, the fees would be lower, or something to that effect, which would seem to make the network tend toward whatever that threshold is.

Although I might be misunderstanding that, because it seems odd to have the system tend toward 50% capacity and not something higher.
 

Clinamenic

Binary & Tweed
Here was the article I had in mind. Highly recommend this source for crypto, specifically DeFi, news:

 

Clinamenic

Binary & Tweed
For a while the gas fees were crippling. I had maybe $100 worth of wrapped ETH (wETH) on Metamask wallet which I wanted to swap back to regular ETH via Uniswap, and the fee was some double-digit percentage of the total amount. And you can find even more extreme examples from complaints issued via reddit.
 

Clinamenic

Binary & Tweed
Although it seems even within the last month or so the fees have dropped, but I haven't been tracking very closely.
 

Clinamenic

Binary & Tweed
Here was the article I had in mind. Highly recommend this source for crypto, specifically DeFi, news:


"EIP-1559 will also increase the network capacity by changing the max gas limit per block from 12.5M to 25M gas. This means that when the network is >50% utilization, the base fee is incrementally pushed up. Inversely, when the network is <50% utilization, the base fee is lowered. As a result, the network will reach balance at 50% capacity by adjusting fees accordingly to the traffic. "
 

Clinamenic

Binary & Tweed
I suppose setting equilibrium at 50% capacity is strategic in a sort of macroeconomic way, seeing as it would allow headspace for spikes of activity that may not be affordable if the equilibrium were set higher.

I wonder if the incremental increase of base fees is linear, I thinking cost as a function of network utilization. Could perhaps be better if it were exponential, but I'm not sure.
 

Clinamenic

Binary & Tweed
The dynamic seems strategic though, to increase fees to disincentivize more network activity, and to decrease fees to incentivize more network activity.
 
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