RexetBlell
Joined 10 years ago
Karma
270
Submissions
121
Member since
Sep 22
Recent submissions
Comment · 6 years ago
Augur 2.0 is coming out this month and it solves many of the problems of the original one.
Comment · 6 years ago
Scaling and transaction cost have been solved using ZK-rollups. Transactions cost less than a cent and take less than a second. 2000 transactions per second throughput. A lot has changed in the last 2 years.
Comment · 6 years ago
Ethereum is scalable already. Layer 2 solutions like https://zksync.io/ and https://loopring.org/#/ are already live and allow 2000 transactions per second. This is based on ZK-rollups and provides the same level of security as the base layer. This technology can be used for trades or transfers.
Another exciting technology that is coming this year is optimistic rollups, which will provide the same level of scalability for arbitrary smart contracts.
Comment · 6 years ago
Layer 1 is expensive. There are other really cool projects that get the same level of security as layer 1, but are much faster and cheaper. For example https://zksync.io/ allows payments that take less than a second and cost less than 1 cent. It’s based on zero knowledge cryptography.
Someone should build a way for people to pay 10 cents per article to read the New York Times without registering using this technology and a stable coin.
Comment · 6 years ago
There were no ICOs in the last 2 years. The community moved on from that. Decentralized non custodial exchange usage is growing, like https://loopring.org/ that’s based on zero knowledge proofs cryptography and allows 2000 trades per second, and the people who built it can’t steal your money even if they wanted to.
There are also decentralized options to protect you from volatility https://opyn.co/ or https://www.hegic.co/
There are many alternatives to Tether, for example USDc or a decentralized stable coin like DAI.
Comment · 6 years ago
Why do people instantly jump to the extreme negative? Any technology can be used for to do bad things. The community is aware of this possibility and have taken precautions. Also any financial market can also be viewed as an assassination market. You can short a stock and assassinate the CEO and profit, but people don’t actually do that in practice. Also, Augur v1 (V2 is coming out this month) has existed for about 2 years and there were no assassination markets on it. The community would resolve them as “invalid”, so it’a not possible to guarantee profit unlike in the regular stock market.
Comment · 6 years ago
What are the consequences that you’re talking about?
Comment · 6 years ago
I wasn’t talking about the price growing. I was talking the usage growing.
Comment · 6 years ago
Yes, here’s a use case - an open, decentralized, neutral, borderless and censorship resistant prediction market like Augur.
Comment · 6 years ago
Yes, and it’s growing fast. Look into DeFi https://defipulse.com/
Comment · 6 years ago
If you want to know how the decentralized oracle problem is solved, scroll down to “dispute round” in this paper https://www.augur.net/whitepaper.pdf
Comment · 6 years ago
Decentralized prediction markets also offer global liquidity, so the counterparty can be located anywhere on earth. Also the friction and fees should be much lower. If someone in Mongolia wants to bet a million dollars against someone in Colombia today, it’s extremely hard to do without a blockchain (think about the fees and time to wire the money, who would you be wiring it to, etc). Prediction markets are not just for gambling, by the way. They could be used for earthquake insurance, for example.
Comment · 6 years ago
A perfect killer example is globally accessible prediction markets. They always get shut down by governments. Isn’t it crazy that you currently can’t place a bet on a horse race or a presidential election in the US?
Comment · 7 years ago
The fact that Ethereum Classic exists proves that Buterin has no control.