Utility drives demand for ETH, making it a store of value.
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Poor architectural plans, sloppy programming, &c but symptom most readily seen is many of its louder voices seem to be devolving more and more into nutty utopian "governance" schemes, substitution of abuse for knowledge and research, etc. as if desperate to save a sinking ship.
That said, there are many talented & knowledgeable Eth devs who understand that trust minimization includes governance minimization & that Turing-complete smart contracts are a hugely valuable idea but very different from programming a web page. I look forward to a future reboot.
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Do you think Simplicity by blockstream is miles ahead and taking a much more reasonable path to full featured smart contracts?
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Bitcoin will never have L1 smart contracts, therefore smart contracts on Bitcoin will never be secure. Better use
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Unless something has changed about open source projects with the vast majority of the talent and market share and the most solid architecture, I think you are wrong. As soon as we know how to build secure smart contracts they will be on bitcoin as shown by
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Off-chain smart contracts don't have the same trust assumptions as on-chain code. One is often not a good substitute for the other.
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Agreed. But Simplicity is intended to be used on Bitcoin. And unless Eth has a credible chance of getting massive hash power they should stop the security theater and use a federated model.
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Simplicity is intended to be used on Blockstream's Elements sidechain. Not Bitcoin.
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Everything on the elements side chain is intended for
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Nope - you basically have that backwards. The federation is the only bridge to the mainchain; element transactions in and of themselves are not valid bitcoin transactions. Sidechains aren't state channels.
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Thanks.
Re: poor architectural plans, I could agree to a certain extent. Do you mind expanding on this, what do you think biggest architectural flaws are?
Re: sloppy code, I'm not competent enough to judge that.
Re: governance, I think it just needs to be structured better.Thanks. Twitter will use this to make your timeline better. UndoUndo
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The reboot might need you to give it a nudge or two in the right direction. All of the Eth devs in this discussion are more than open to discussing what needs to be corrected in the reboot.
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Depends what you mean by reboot but yes, in general I think this is true. I'd also love to hear more details.
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I meant ETH 2.0 for the magnitude of the changes proposed.
End of conversation
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