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by mattdesl 1512 days ago
This seems to ignore Ethereum's rollup-centric approach to scalability. Many of those interactions you mention (such as sending coins, interacting with a smart contract) can be batched and, in a single L1 transaction, their integrity verified cryptographically with succinct zero-knowledge proofs (zk-SNARK/zk-STARK).

To the user, eventual UX is similar. Direct CEX on/off ramps to rollup, trading, DeFi, NFTs, smart contracts, etc. It is all "on-chain" by virtue of it being cryptographically verified on mainnet Ethereum (and, likely in less time than the finality of a single BTC transfer).
1 comments
randomhodler84 1512 days ago
Everything about eth scaling is just kicking the can down some other chain. L2 and Rollups are the same sidechain paradigm from 2014 with newer, more fragile math.

Payment and State Channels are the only true way to scale. Off-chain txs. Lightning network works quite well today for Bitcoin and I look forward to seeing entirely new paradigms evolve in time for Eth.

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mattdesl 1512 days ago
Lightning Network is a Layer 2. State channels also exist on top of Ethereum, such as Raiden Network and others[1].

The Eth core devs and users are more interested in rollups due to them being general-purpose[2], i.e. suitable for applications and smart contracts to build on top of (for e.g. Uniswap on a rollup via zkEVM[3]).

[1] https://ethereum.org/en/developers/docs/scaling/

[2] https://vitalik.ca/general/2021/01/05/rollup.html

[3] https://scroll.io/blog/zkEVM

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randomhodler84 1511 days ago
Ya, I know. kick that can down the road.

Not everything needs to be recorded for all eternity.

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