Author Topic: How Etheroll and other Dapps will kill Ethereum  (Read 2348 times)

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Offline JoeyD

Isn't it possible to make changes to the infrastructure of bitcoin or eth? I know the decentralisation is pretty strong, but I wonder if Etherum can be changed in the future to work around f.ex. scalability issues? Sorry if my question is stupid, I'm just pretty new to bitcoin :)

I'm not a computer scientist so use appropriate amounts of salt with my comments. From what I understand there is a fundamentally different design at the base of bitcoin and bitshares (and other graphene based blockchains).

The difference seems to be mainly whereas bitcoin stores and processes operations on the network, bitshares deals with messages (the results of operations). The latter allows for the massive optimizations and speed (not using the inefficient blockchain for the slow stuff, but only for the absolutely essentials). It also allows for more complex stuff like order matching on the decentralized exchange, something that is apparently virtually impossible to do on both bitcoin and ethereum.

Ethereum uses a similar design with bitcoin, but with a lot more operations and complexity. While there probably are ways to massively improve bandwidth and tx/s, from what I understand most of those can be applied to bitcoin and because of it's simplicity it would always have higher bandwidth then ethereum using the same techniques.

What ethereum can't do however is migrating to the message-system graphene uses without breaking off completely from their current design (unlikely since all the current customers would have to rewrite all their current apps and software) and that seems to be one of it's achilles-heels. One of the reasons that there is still not a bitshares-level app on ethereum is this design, despite all the devs clamoring that the first thing they'd write would be a dex and there being an opensource working one right here to copy. Also even if the bandwidth issue would be solved, it would still be held back by it's blocktimes and having to do linear operations. Graphene based chains seem to be capable to do multiple operations during a single block on top of the low 3 second blocktimes.

I only skimmed through the article referenced at the top, but superficially he does seem to have a point. Despite all the smugness I'm seeing in the Ethereum-community about the issues with bitcoin, I'm stupefied by the observation that most not realizing they have all the exact same issues, if not even worse in their case. (centralization, governance issues, waaaay to much power in the hands of a few, immediate bandwidth problems) For example, delayed transactions on the "simple" bitcoin network does not necessarily destroy the value propositions of the bitcoin tokens (although it is not a very good user experience), I'm pretty sure that the same situation on ethereum would have more serious consequences.

The hype-machine trying to convince people that ethereum can do and replace everything seems to be more than a little misleading. To be fair though, I've seen people like Zamfir issue public warnings, about not running mission critical code on the network, because of it's experimental state.
« Last Edit: June 02, 2017, 03:07:54 am by JoeyD »

Offline HannahB

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Isn't it possible to make changes to the infrastructure of bitcoin or eth? I know the decentralisation is pretty strong, but I wonder if Etherum can be changed in the future to work around f.ex. scalability issues? Sorry if my question is stupid, I'm just pretty new to bitcoin :)

Offline fluxer555

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Assuming we implement EVM, could any Ethereum contract/dapp be ported over to BitShares, but with the advantage of being blazing fast and cheap?

EOS. I think instead of porting BitShares to the EOS platform, BitShares can become an EOS chain itself. Then any dapps built into our system will be able to use any of the UIAs or bitassets that already exist in the system. Dan has said that EOS will have support for interoperability with other EOS chains, so we'd be feeding into that ecosystem as well.

If you don't know what EOS is, I suggest you go to eos.io, sign up to the mailing list, and dig into all the links.
« Last Edit: June 01, 2017, 09:16:38 am by fluxer555 »

Offline Akado

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https://medium.com/@yobanjo/how-etheroll-and-other-dapps-will-kill-ethereum-e973d8e1c465

I think this might be exaggerated but it has it's point. Meanwhile BTS can handle hundreds or thousands of transactions per second and also supports smart contracts. How can we take advantage of this? Apart from just saying this on social media because it will only make it seem BitShares is attacking Ethereum (dont forget they have a large userbase).

BitShares survived an extremely hard period. yet people continued to work on it, create on top of it and continued to support it. Slow and steady wins the race. I think in the end BitShares will be one of the few to survive. It only makes me a bit sad not seeing it recognized in the crypto sphere.

Plus, original creator of DPOS, used in a lot of projects and gaining traction.

Assuming we implement EVM, could any Ethereum contract/dapp be ported over to BitShares, but with the advantage of being blazing fast and cheap?
« Last Edit: May 31, 2017, 10:30:43 pm by Akado »
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