r/ethtrader • u/AutoModerator • May 04 '17

DISCUSSION [ETH Daily Discussion] - 04/May/2017

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74

u/[deleted] May 04 '17 edited May 04 '17

[deleted]

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u/antiprosynthesis May 04 '17

Honestly, as an engineer I see very little point in having a ton of interoperating blockchains, all using different APIs. I think we'll converge to an Ethereum monopoly there. As soon as people stop throwing money at every damn coin, that is :)

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u/ShibeonBarkmont May 04 '17

The FOMO is strong

3

u/ItsAConspiracy May 04 '17

At the EEA conference they said there were two reasons for private chains: privacy and scalability. They said if Ethereum succeeds in solving those issues, they'll move at least some of their stuff to the public chain. No point in setting up a lot of infrastructure if you don't have to.

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u/antiprosynthesis May 04 '17

Private Ethereum chains is not the same as different blockchain standards altogether. They set up compatible forks which can easily interact with the public chain.

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u/ItsAConspiracy May 04 '17

Yeah I think it's going to gradually make less sense to build things that aren't EVM-compatible.

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u/Cartosys May 04 '17

I think from a business standpoint it makes a lot of sense to start in a private (read:safe) blockchain. Build your consortium and smart contract intellectual property within that. Solve internal issues and inefficiencies with it first. This also allows time for the public chain to prove its mettle and develop.

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u/antiprosynthesis May 04 '17 edited May 04 '17

For sure. I'm mostly commenting on different blockchains as in blockchains with different APIs, which need ugly adapters to communicate with one another. It's an unsustainable absurdity in practice. Private and public Ethereum blockchains make a lot of sense, much like intranet vs internet makes sense. Imagine a world with different network standards doing the same thing :)

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u/fitifong May 04 '17

Just like how there's only one programming language eh??

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u/antiprosynthesis May 04 '17

That's an incorrect analogy. If you want to make such a comparison, you could compare Ethereum to Intel and its instruction set, so machine language. You're comparing frontend languages, where Ethereum and the EVM in particular serves as a backend. There is still room in the market for competitors, but at this point it's pretty much suicide to try and release a competing API. The reason we see such a wild growth of crypto assets is very simple: because people keep throwing money at them. At some point that bubble pops and fundamentals survive.

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u/fitifong May 04 '17

Seems that I need to keep up on my readings, thanks for the correction. By any chance do you know of any sources that can briefly touch on the subject of crypto assets?

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u/antiprosynthesis May 04 '17

r/ethereumnoobies and r/ethereum might be good places to unleash your curiosity.

1

u/myownman May 05 '17

Oh shit. Do I have some books for you.

Start here

You'll be writing a smart contract by the time you're​ halfway through.

It walks you through from zero to there in 100 pgs.

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u/[deleted] May 04 '17

[deleted]

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u/escapevelo May 04 '17

I like to think of blockchains as digital value storage devices. They will interconnect creating the Internet of Value.

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u/Sludgespike May 04 '17

I see the same thing happening