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    Home Unlabelled Ethereum It's happening: EIP-1559 is officially scheduled for London (July hard fork)

    Ethereum It's happening: EIP-1559 is officially scheduled for London (July hard fork)

    March 05, 2021

    Ethereum It's happening: EIP-1559 is officially scheduled for London (July hard fork)

    It's happening: EIP-1559 is officially scheduled for London (July hard fork)

    Posted: 05 Mar 2021 07:55 AM PST

    Why the Merge Should Be Prioritized Over Data Sharding

    Posted: 05 Mar 2021 11:02 AM PST

    Some Background

    The roadmap for Ethereum has evolved over the years, in good ways. Not too long ago, ETH 2 was divided into phases, roughly as follows:

    Phase 0: Staking on the Beacon chain (completed / happens today).
    Phase 1: Data Sharding.
    Phase 1.5: the Merge.
    Phase 2: TBD (this phase is/was the most nebulous; basically, there could be further improvements made to Ethereum).

    These Phases Need Not Happen Chronologically

    In recent months, Vitalik, Danny R., and others, have clarified that Phases 1 and 1.5 need not occur in that order. In other words, the Merge could be prioritized and implemented before Data Sharding. I urge the community to prioritize the Merge over Data Sharding for at least the following reasons:

    • Rollup tech buys us time. Both optimistic rollups and ZK rollups are now coming online. These have the ability to scale Ethereum from less than 10 TPS to over 1000 TPS. We gain at least two orders of magnitude of scaling with rollups. Once major DAPPs such as Uniswap migrate to L2 (it is happening!), then fee pressure on L1 will be greatly alleviated. And it is all happening in the short term, over the course of the next few months. I estimate that this will provide at least 1 to 2 years before Data Sharding is needed to further scale Ethereum to 100,000+ TPS.
    • Having the Merge at the ready provides a fallback for the community should a cartel of miners collude to neutralize the positive effects of EIP 1559. There are some within the mining community who have threatened to form a group of miners to essentially prevent some aspects of EIP 1559 from having their intended effect. While I believe it would be difficult or impossible for this group of miners to pull this off, there is a small chance that they might be successful. The community would rightly interpret such an action to be an attack on the network. The mere fact that the Merge is prioritized before Data Sharding might be enough to ward off such an attack like a Sword of Damocles, given that the Merge is the final separation of POW miners from the network. This would further incentivize the mining community not to attempt to subvert the network.
    • The Merge brings immediate liquidity to POS stakers who have tied up their ETH.
    • The Merge is technically less complex than Data Sharding, albeit still with significant implications to the network. It shouldn't be rushed, but it also should not be delayed. Careful development with multiple testnets are obviously called for. Overall, it is better to implement the technically-less-complex option having more immediate benefits to the community, and then shift community attention to the technically-more-challenging Data Sharding effort.
    submitted by /u/Always_Question
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    Jack Dorsey is currently selling his first ever Tweet as a NFT on Ethereum for $88,888 atm

    Posted: 05 Mar 2021 06:03 PM PST

    (From a few months ago) A proposal for how prediction markets could be modified to reduce capital costs when there are many highly improbable events that people are betting on

    Posted: 05 Mar 2021 01:14 PM PST

    Investor opinions about Ethereum and crypto is shifting positively. “The questions are getting better and better.”

    Posted: 05 Mar 2021 01:27 PM PST

    Once EIP 1559 is implemented in July, which mining pool would be the best?

    Posted: 05 Mar 2021 12:10 PM PST

    I'm currently using Ethermine, but wanted to know if it will be worthwhile to chance over to Sparkpool since EIP 1559 difficulty will increase and that pool appears to be the biggest.

    submitted by /u/garcia-a
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    Vitalik Buterin on the Rationally Speaking Podcast | Intellectual honesty, cryptocurrency, & more

    Posted: 05 Mar 2021 04:35 AM PST

    Link to podcast page. Also available on wherever you get your podcasts I imagine. The transcript is also available

    Really fun to hear Buterin talk about how he thinks.

    submitted by /u/welliamwallace
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    EIP 1559 - miner acceptance question

    Posted: 05 Mar 2021 12:44 PM PST

    I understand that some (perhaps a majority) of the miners are opposed to EIP 1559. What is the likelihood that this opposition leads to a contentious split and how might that play out if it happens? I.e. are we potentially looking at an ETH Classic 2 situation, or is that simply very unlikely and is just FUD that is being spread?

    submitted by /u/celticwarrior72
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    How to run Eth2 node on Amazon Managed Blockchain Service?

    Posted: 05 Mar 2021 02:24 PM PST

    Has anyone tried to run an Eth2 node with the newly supported AWS Ethereum managed blockchain? Does it support Eth2?

    submitted by /u/nocturnien
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    How to Write a dApp?

    Posted: 05 Mar 2021 11:36 AM PST

    I know smart contracts run on nodes. dApp's are basically smart contracts, right? If a person wanted to release their dApp, do they need a node of their own? Or do they upload their code onto a node somewhere? What's this ecosystem like?

    Also, it is true that once a smart contract has been release it cannot be modified? That's why there's so many v2 out there?

    submitted by /u/nigelwiggins
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    Best Wallets?

    Posted: 05 Mar 2021 11:34 AM PST

    Hi, so I'm considering investing in Eth & before I buy a Ledger Nano S for my new laptop in a few months (as current laptop is on it's last legs & I think it's easier just to set up on 1 laptop I assume..) Whats the best IOS wallet to keep my Eth in until then?

    Thanks!

    submitted by /u/bh8787
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    Safest way to get some exposure to the NFT trend ?

    Posted: 05 Mar 2021 09:27 AM PST

    I really don't understand NFTs but it seems like it's getting hyped up everywhere by everyone , including big players. I really don't want to invest in something that doesnt make sense to me, but I'd like to have at least a bit of exposure in case it takes off

    What's the best/safest way to get exposure to the NFT craze without actually owning any ? (besides owning eth)

    Thank you!

    submitted by /u/throwawaygeneral1122
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    Thoughts on the carbon footprint of PoW / Eth?

    Posted: 05 Mar 2021 10:52 AM PST

    There's been a lot of chatter on Twitter recently about the carbon footprint of PoW and ethereum.

    Its mainly from the NFT community and looks like it was started by this nifty (pun intended) calculator:

    https://carbon.fyi

    Some people are coming out saying that anyone using PoW is evil and we need to boycott Ethereum.

    Others saying the numbers are BS or at the very least that NFT community is a tiny contributor of total network footprint.

    submitted by /u/red_hot_pawn_star
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    What does it mean to 'stake' ETH 2.0?

    Posted: 05 Mar 2021 07:36 AM PST

    I've been in crypto for about a year and despite some research, I am a little embarrassed to say I still don't quite understand what it means to 'stake' a coin. Can anyone explain it to me in terms I might more easily understand?

    submitted by /u/Metasketch
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    Good reading on Game Theory and Tokens Economics?

    Posted: 05 Mar 2021 01:18 PM PST

    I'm looking for books or articles about game theory and token economics. Anyone have any good suggestions?

    I'm looking for stuff that's somewhat noob friendly. I'm pretty familiar with technicals of blockchain, but the economics I'm fuzzy on.

    submitted by /u/OopsSudoBangBang
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    EIP-1559 on London hard fork

    Posted: 05 Mar 2021 08:17 AM PST

    It's ERC-777 week! �� Here's some tweetstorms I wrote this week about the ERC-777 token standard, and how it fixes the issues of ERC-20

    Posted: 05 Mar 2021 05:24 AM PST

    Miners upset with EIP-1559?

    Posted: 05 Mar 2021 01:42 PM PST

    I have seen a lot of comments about Etheruem being too centralized off of this decision and miners are saying that it is going to kill the coin. What do you guys think about this? I see it as a good thing, high gas fees can kill the coin while miners get the short-term profits.

    submitted by /u/001011001101
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    Tidal Finance partners with bZx Protocol providing Asset Insurance

    Posted: 05 Mar 2021 06:35 AM PST

    Economic Analysis of EIP-1559: A Summary

    Posted: 05 Mar 2021 03:17 AM PST

    (BEGINNER FRIENDLY)Token Metrics You Should Know

    Posted: 05 Mar 2021 05:59 AM PST

    [Bankless] What you need to know about EIP-1559 regarding fees, miners, and issuance

    Posted: 05 Mar 2021 08:16 AM PST
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