Ethereum Loopring's New Smart Wallet Can Help Recover Stolen or Lost Crypto |
- Loopring's New Smart Wallet Can Help Recover Stolen or Lost Crypto
- At this rate, in about 8 hrs, ETH will complete burning 1M coins. Probably nothing....
- Born 'dirt poor' in Alaska, man uses Ethereum Mining profits to fulfill dream of launching Brazilian Jiu Jitsu school in Texas
- Dont be like me.
- When that December difficulty bomb hits
- Which 2nd layer to use?
- Vitalik speaks today at a German conference about the future of Ethereum
- Why calldata gas cost reduction is crucial for rollups
- [HELP] Have Wrapped Ethereum and can't exchange to anything else due to gas prices
- Using Uniswap With Ledger Hardware Wallet - Complete Beginners Guide!
- How can I turn this into fiat? This is only visible from my OpenSea wallet
- I wrote an article on how surveillance-free security cameras is possible with encrypted blockchain and zero-knowledge proofs.
- How do you stay up to date in the world of blockchain/ethereum?
- Timing to consolidate Ethereum wallets with small balances
- Small paycheck, long term gains.
- Accidentally sent CRO ERC20 from an exchange to a CRO network wallet address
- Are there ANY resources in this forum which provide any legitimate guidance around ETH longterm expectations?
- Staking on Kraken
- Paper wallet to Ledger
- layerswap.io - You can withdraw ETH from Binance, Coinbase, KuCoin, Huobi, and FTX to Optimism
- The long-awaited policy statement on Crypto policy was just released
- Exodus Announces In-Wallet Sports Betting with SportX Integration on Polygon
- Scaling Ethereum & crypto for a billion users, from the Coinbase Ventures team
- What are the most successful ethereum/block chain use cases
| Loopring's New Smart Wallet Can Help Recover Stolen or Lost Crypto Posted: 23 Nov 2021 08:31 AM PST
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| At this rate, in about 8 hrs, ETH will complete burning 1M coins. Probably nothing.... Posted: 23 Nov 2021 08:26 PM PST
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| Posted: 23 Nov 2021 08:21 AM PST
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| Posted: 23 Nov 2021 06:25 PM PST I bought 5 ETH in january, it was my first real investment in crypto and investing in general. I looked at the charts every minute of everyday for 2 weeks straight. I was going crazy of fear, fear that I would loose all my hard earned money… So I sold with a loss.. Looking back at it now, I regret it so badly.. Lesson learned : DYOR, Buy & HODL! [link] [comments] | ||
| When that December difficulty bomb hits Posted: 23 Nov 2021 10:32 PM PST
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| Posted: 23 Nov 2021 06:10 PM PST I am planning to deploy a Dapp. The mainnet will be too expensive to use (until 2.0, I hope) due to the gas fees. Which layer network would you guys recommend? What are you actually using on those networks? Edit: the data which is stored on the contracts is arbitrare, strings, arrays etc. So I guess zK is not good fit, right? [link] [comments] | ||
| Vitalik speaks today at a German conference about the future of Ethereum Posted: 23 Nov 2021 02:32 AM PST Hey. Vitalik will be speaking at a conference in Munich today at 8 PM German time about the development and future of Ethereum. Could be interesting. https://twitter.com/1E9tech/status/1463092273252601859 [link] [comments] | ||
| Why calldata gas cost reduction is crucial for rollups Posted: 23 Nov 2021 10:50 PM PST We will be discussing the draft EIP to decrease calldata gas costs: Call data gas cost reduction with total calldata limit — HackMD. I'm not going to dive into technical and implementation details, but I'll definitely dive into what this means for rollups and the end users. First, a brief recap of rollups. They execute transactions, generate proofs, and compress transaction data to commit to Ethereum. For all rollups running at scale, the compressed transaction data component becomes 99% of the gas cost as the primary bottleneck. This is what is committed to Ethereum as calldata, and as a result, reducing cost of calldata has a dramatic impact on the end users' transaction fees on rollups. Tl;dr: this EIP will reduce transaction fees on rollups by ~5x, while the limit will ensure that it remains safe. Given how transaction fees & blockchain demand work, I believe the net impact will be far greater than 5x. There's been a lot of talk about reducing calldata this week. Louis from StarkWare has a great thread about it, responding to a prompt from @PhABCD. I had briefly covered the cost implications, but will dive into it more here. Over the last year or so, we have seen exponential demand for Ethereum smart contract transactions, whether it be DeFi, NFT or memecoins, which has led to skyrocketing gas prices. Unfortunately, because rollups have to compete with these use cases, there's been unnecessary contention, leading to calldata being overpriced in absolute terms. This draft EIP effectively subsidizes rollups so they can make better use of Ethereum blockspace. With significantly lower costs on rollups, this will also reduce the cost of DeFi, NFT, memecoins and other smart contracts on rollups, hopefully incentivizing more people & developers to migrate from Ethereum mainnet to rollups. This will, in turn, lead to reducing demand and gas prices on mainnet, which in turn will further decrease transaction fees on rollups. Hopefully, this will kickstart a positive feedback cycle and incentivize transition to rollup-centric usage of Ethereum. The question then becomes — but this will surely lead to a bloated chain, right? This is where the cap on the max calldata there can be per block comes in. Today, the average target for calldata is 937,500 bytes, assuming the entirety of Ethereum is calldata and nothing else. With this EIP, the max calldata is capped at 1,048,576 bytes. So, really, when we consider worst-case scenarios, nothing much changes from now. What will happen is the ratio between calldata and other transactions will increase, thus leading to larger blocks. But as covered, this is still within bounds, and history expiry as proposed by EIP-4444 will mitigate this in the future. I'm oversimplifying, of course, please read the EIP for more details. The other concern to be addressed is — will it delay The Merge? The early feedback I've seen is that this is a relatively simple change, not much more complex than Arrow Glacier's bomb defusal so it should not impact The Merge's timeline — which is getting close to spec freeze — by more than a week or two. Of course, there'll be a lot of discussion about this in the upcoming Ethereum Core Devs call, and we'll see clarity around timelines emerge then. But generally, it's possible we can have this EIP rolled out as early as Q1 2022, before The Merge. The other possibilities are with The Merge itself, or the fork after The Merge. But given the urgency of the situation, we should try to make the pre-Merge fork happen. Personally, I'd argue that reducing transaction fees on rollups by 5x actually has a much greater impact in the short term, so any small delays in The Merge will be well worth it. What do you think? How much will transaction fees on rollups reduce? Tl;dr: by 5x or so, but this is a complex topic. If you want to get into the weeds, read on, otherwise feel free to skip this section. Fees on rollups have three components broadly: fees by the rollups, batch/verification fees, and transaction data (as calldata). Only the calldata will be affected, but as mentioned above, for a rollup running at scale, this will be 99% of the fees. But, of course, rollups are not yet running at scale, so let's look at a few examples. The last Uniswap V3 trade on Optimistic Ethereum had a total transaction fee of $2.95 (I'm using OE as their recent EVM-equivalence upgrade makes comparisons easier). The L2 component is relatively negligible. While they don't break it down, I'll assume the L1 gas is largely calldata at 6,290 gas. At the time of this transaction, this amounted to $1.95. As an early rollup, they have a buffer, where each transaction is charged 1.5x to mitigate gas price volatility etc. I believe this is far too high, and will reduce down to close to 1x over time as rollups scale up and mature. Given that, after this EIP, the cost for a transaction fee could potentially reduce to only $0.36. Now, of course, that's a naïve illustration. In reality, the matter is far more complex. For example, if we see more developers & users move from Ethereum to Optimistic Ethereum to benefit from this massive reduction in costs (from $50 swaps to $0.5!) we could see gas prices reduce on Ethereum, which could ignite a positive feedback loop as discussed above. On the other hand, at sub-$0.5 there'll surely be higher demand from outside the Ethereum ecosystem. As long as within the rollup's limits, this won't impact the L2 fees. However, the rollups could start bidding up the gas price if they start using a significant amont of calldata, but on the fourth hand, rollups' batched transactions will be far more efficient than users directly interacting on Ethereum. On the fifth hand, I haven't even mentioned calldata compression techniques, which ORs like Optimistic Ethereum & Arbitrum One have yet to implement, which could lead to another 10x reduction in costs. So, potentially, with compression, we could have AMM swaps on ORs sub-$0.05! Arbitrum has their first implementations of calldata compression rolling out with Nitro, and the Optimism team is also working on it. Anyway, the point is — there are many dynamics at play! It's nigh impossible to predict where fees and demand will finally land, but you get the picture — much lower transaction fees on rollups! Things get a little more complicated when we consider ZK rollups. While optimized ORs have a relatively low batch costs, it's more expensive to verify the validity proof. Especially for STARKs, this costs ~5 million gas. If we look at the case of dYdX, we've seen batches with 13,000 transactions. This leads to a 384 gas cost per transaction. (Note: for the user, dYdX has zero gas fees, as it's abstracted from the user, but there's a gas cost that dYdX pays.) Due to ZKRs' highly efficient compression techniques, and the nature of dYdX making it particularly compressible, the calldata cost is actually only 86 gas. With this EIP, this calldata cost will reduce to 16.1 gas. But overall, the transaction fee will reduce from 470 gas to 400 gas. At the time of writing this post, that would be from $0.15 to $0.125. Not the most dramatic improvement, but here's where things get interesting. The batch cost is poly-log, so practically fixed. If dYdX's activity increases 100x, the batch costs will decrease to only 4–5 gas per transaction, in which case the calldata reduction would have a huge impact. If dYdX did do 100x the TPS they are doing today, the total on-chain cost will reduce to only 21 gas, which is $0.007. At this point, the bottleneck becomes prover costs for the ZKR as much as on-chain gas fees! I should also note that PLONK-rollups like zkSync have much lower verification costs, with a fixed batch cost of ~0.5M gas, so they need less ~10x less activity to amortize the batch cost. On the other hand, they do have higher prover costs, and STARKs have other benefits, and as demonstrated above at scale the gas costs become negligible any way. More on this fascinating topic here. Either way, the point is — as ZKRs start ramping up activity, we're easily looking at $0.0X transaction fees post this EIP. What about capacity? If we assume that Ethereum is 100% rollup transactions, then the peak capacity for rollups is not going to change much. In line with the max calldata limit as per the EIP, we're looking at a ~12% increase. So, for optimized, compressed 16 byte transactions, this is 5,000 TPS across rollups. For highly compressive usecases like dYdX, 15,000 TPS. I believe this is a ton of headroom given all blockchain activity combined is less than 1,000 TPS (not counting consensus votes and such). By the way, I'll point out that monolithic blockchains are struggling to keep up even with this tiny, tiny level of activity. Rollups & specialized DA layers like data shards are inevitable. Since I wrote this post, Polygon PoS has bumped their gas floor 30x, Solana has occasional instability (usually short-lived, but up to 18 hours downtime), Binance Smart Chain is melting down, Avalanche C-chain gas prices have skyrocketed lately etc. The evidence is mounting, at this point I have 0 doubts. Sorry, you know I had to mention that! Anyway, back to rollups. Even if we saturate 5,000 TPS, further, we have StarkNet & zkSync 2.0 releasing volition systems in early 2022 with alternative DA solutions, which are much, much easier to parallelize and scale than blockchains. Not as secure as rollups, to be sure, but still more so than centralized L1s. So, we have plenty of throughput left to exploit. By the way, here's a nice site to follow along where Ethereum sidechains & rollups activity is at. The long-term solution remains data sharding, of course. That'll get is 10,000 scale incrementally over the next 4 years, and speculatively 1 million x over the decade. In the short-term, though, this EIP will be a huge boon that'll have an outsized impact in bootstrapping adoption for rollups. When data sharding does release, rollups will be ready. I hope you will all join me in supporting this EIP! If you have any questions & concerns, please do post them here. [link] [comments] | ||
| [HELP] Have Wrapped Ethereum and can't exchange to anything else due to gas prices Posted: 24 Nov 2021 12:44 AM PST Trying to exchange WETH to literally anything at this point. However, to simply exchange $50 it costs almost $200. Anyone have any idea how I can get rid of my WETH? [link] [comments] | ||
| Using Uniswap With Ledger Hardware Wallet - Complete Beginners Guide! Posted: 23 Nov 2021 03:53 AM PST Hey guys I've made a new complete video guide for the community on how to use Uniswap with a Ledger device and secure your DEFI assets: https://www.youtube.com/watch?v=9QW8gXNaw2I If you are using MetaMask "hot wallet" while interacting with UniSwap decentralized exchange, your crypto tokens are at risk. If you have more than $5,000 in crypto and you are using Metamask Extension, you HAVE to watch this guide in order to learn how to use decentralized apps like UniSwap with Ledger. Once the hacker has your private key he can steal all your funds (all the different blockchains). In the video, We will understand how hackers operate and how we can level up our security in order to avoid such incidents. By using a hardware wallet-like ledger device you are making the hacker's life much harder since the private key doesn't exist in the computer itself but is stored in a secured way in the ledger operating system memory. We will also learn how to connect your ledger to the Metamask Extension and sign the transaction on the ledger itself. The transaction will be signed on the ledger and will be sent to UniSwap Smart Contracts by the RPC nodes that are configured in the MetaMask Extension. The metamask extension is not aware of the private key, and the private key never "touches" the computer memory, but is living in a secured and encrypted way inside the Ledger device. Let me know what you think about the guide and if you have any questions. [link] [comments] | ||
| How can I turn this into fiat? This is only visible from my OpenSea wallet Posted: 24 Nov 2021 12:13 AM PST
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| Posted: 23 Nov 2021 02:24 PM PST
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| How do you stay up to date in the world of blockchain/ethereum? Posted: 23 Nov 2021 03:29 PM PST New to ethereum, crypto, defi, and blockchain overall. While exciting, it is a large and ever changing space. What resources/websites/publications do you use to stay up to date on it? Thanks! [link] [comments] | ||
| Timing to consolidate Ethereum wallets with small balances Posted: 23 Nov 2021 06:35 PM PST So I definitely get why gas fees are "high" on Ethereum's base layer (it's useful). Also that the goal of the layer 2's will be to combine many transactions into a single transaction on the base layer so that base layer gas fees are distributed across the transactions, so each layer 2 transaction costs less per transaction. (Feel free to harass me in the comments if you feel this is an oversimplification regarding the questions I have below) With that in mind, when do you think the best time will be to combine base layer dust wallets? I have a couple methods of thought, and I am curious what your opinion is.
Also, for those of you who are in the group 1 opinion. What do you think should be done with wallets that currently have less Ethereum than the current base gas fee? If your opinion is the gas fee will never be consistently lower than it is currently, then theoretically I might as well abandon any of those wallets. [link] [comments] | ||
| Small paycheck, long term gains. Posted: 23 Nov 2021 06:50 PM PST This week, I only get 200 on my paycheck. 2 days off because an injury, 2 days off because of holidays. My plan is to buy 200 of ETH to convert this week into a full week. Should work out! [link] [comments] | ||
| Accidentally sent CRO ERC20 from an exchange to a CRO network wallet address Posted: 24 Nov 2021 01:11 AM PST | ||
| Posted: 24 Nov 2021 01:03 AM PST When I say legitimate, let me qualify that to, "are there any non-super-obvious-shill posts here which provide any sort of guidance for long term investments"? From a quick scan it seems that genuinely 70+% of content here is either bot generated or completely unfounded sentiment. Maybe I'm misinterpreting the intent of this sub, but as somebody who has been invested in / had great gains from crypto in the past 2 years, it's genuinely terrifying coming into this sub and filtering by new to think I might be able to make better timing decisions on swing trades. [link] [comments] | ||
| Posted: 24 Nov 2021 12:34 AM PST Just staked a small amount of ETH on Kraken to test their staking. I know full well I can't unstake until ETH2.0 comes out. But did I fuck myself? (I stake ETH other places as well). [link] [comments] | ||
| Posted: 23 Nov 2021 05:18 PM PST Noob question. I've searched through the subreddit and most relevant posts are a few years old. New to etherum after receiving a paper wallet as a gift. Is MEW still the easiest way to transfer it to a ledger? (Or is it the easiest?) [link] [comments] | ||
| layerswap.io - You can withdraw ETH from Binance, Coinbase, KuCoin, Huobi, and FTX to Optimism Posted: 23 Nov 2021 10:29 AM PST With https://layerswap.io, you can directly send crypto from your crypto exchange accounts to the Optimism network without paying ridiculous gas fees. We utilizing the internal ledger of crypto exchanges to cut of gas fees. Supported Exchanges: Binance, Coinbase, Huobi, FTX, KuCoin Discord: https://discord.gg/KhwYN35sHy P.S. I am from LayerSwap team, will be happy to answer any questions you may have! [link] [comments] | ||
| The long-awaited policy statement on Crypto policy was just released Posted: 23 Nov 2021 10:49 AM PST The long-awaited policy statement on Crypto policy was just released by the three agencies that would be collectively engaged in supervision. The stated purpose of their working on the collaborative effort is to bring clarity to promote safety, soundness, consumer protection, and compliance with current finance statutes and rules. Staff from the Federal Reserve, FDIC, and OCC, first worked to understand crypto-assets and then determine their organization's potential involvement. Involvement included:
Based on their review, they created a list to provide greater clarity on whether banking organizations are legally permitted to engage in specific activities related to crypto-assets. During 2022 the agencies plan to provide guidance on:
[link] [comments] | ||
| Exodus Announces In-Wallet Sports Betting with SportX Integration on Polygon Posted: 23 Nov 2021 09:07 AM PST
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| Scaling Ethereum & crypto for a billion users, from the Coinbase Ventures team Posted: 23 Nov 2021 08:16 AM PST
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| What are the most successful ethereum/block chain use cases Posted: 23 Nov 2021 02:00 PM PST I am trying to find successful blockchain and smart contract use cases that are not insular to crypto itself. I find a lot of websites touting the potential of it for supply chain tracking, charity watch, gambling, etc. But many of the "success" cases no longer exist or have only succeeded in getting funding - not profit. Can anybody point to practical successes outside of the services for crypto/blockchain community ( like coinbase, opensea, etc ). Thank you [link] [comments] |
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