Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: libert19 on June 25, 2024, 02:47:35 PM
-
Let's take an example of Arbitrum and Zksync, these two aim to scale ethereum, decrease congestion and provide cheaper gas fee. Meanwhile, these same two chains got congested during the airdrop claim of $arb and $zk respectively.
I just find this infuriating a bit, you are meant to be a scaling solution and can't handle congestion yourself, what?
-
Arbitrum has failed twice before this if anyone could still believe in their calling approach probably they were not looking at the actual tech behind it, if a back-and-forth airdrop can crash it it means that actual real-world usage for a day would clog it for a month. Either way, when you have a l2 on top of a congested chain and you still don't learn the basic lesson and try to use your token in this mess (obviously financially motivated) you're going to experience the exact same story, and then what's next l3?
As for zksync, same RPC capacity issues that plagued Solana
-
In a normal situation, both Arbitrum and zksync would have high fees, especially since this blockchain comes with a low number of transactions, but because of Airdrop farmers, there is high activity on the chain.
You can monitor some of these statistics here ---> https://l2beat.com/scaling/activity and you will notice that this blockchain will be cheap and have few transactions after this hype ends.
-
In a normal situation, both Arbitrum and zksync would have high fees, especially since this blockchain comes with a low number of transactions, but because of Airdrop farmers, there is high activity on the chain.
You can monitor some of these statistics here ---> https://l2beat.com/scaling/activity and you will notice that this blockchain will be cheap and have few transactions after this hype ends.
That's true when there is low activity these chains are fine to use, but what I mean is if you can't handle the high activity, what exactly is point of you to exist?
-
In a normal situation, both Arbitrum and zksync would have high fees, especially since this blockchain comes with a low number of transactions, but because of Airdrop farmers, there is high activity on the chain.
You can monitor some of these statistics here ---> https://l2beat.com/scaling/activity and you will notice that this blockchain will be cheap and have few transactions after this hype ends.
That's true when there is low activity these chains are fine to use, but what I mean is if you can't handle the high activity, what exactly is point of you to exist?
Maybe it's still in the development stage, and all the shortcomings will definitely be overcome if they really want to progress and get good attention from crypto users.
I'm sure either arbitrum or zksync will definitely solve this problem, otherwise don't expect this chain to gain more trust.
-
Maybe it's still in the development stage, and all the shortcomings will definitely be overcome if they really want to progress and get good attention from crypto users.
Most altcoins will fail to provide low fees if them blocks are full. This is due to centralization and the short time interval between each block being mined.
True decentralized coin are the ones that will succeed, and second-layer solutions are not exception.
-
That's true when there is low activity these chains are fine to use, but what I mean is if you can't handle the high activity, what exactly is point of you to exist?
That is the problem most Layer 1 chains faced and now the Layer 2 are going through the same phase. That is why Layer 3 chains have come into existence doing the same thing on Layer 2. I feel we may in the future see a Layer 4 if the Layer 3 goes through the same crisis.
-
That's true when there is low activity these chains are fine to use, but what I mean is if you can't handle the high activity, what exactly is point of you to exist?
That is the problem most Layer 1 chains faced and now the Layer 2 are going through the same phase. That is why Layer 3 chains have come into existence doing the same thing on Layer 2. I feel we may in the future see a Layer 4 if the Layer 3 goes through the same crisis.
This will perpetually go on then. I don't consider this a solution.
You don't solve problem you created yourself for (i.e, layer 2s popping-up to solve congestion problem on Ethereum but themselves suffer same).
-
Maybe it's still in the development stage, and all the shortcomings will definitely be overcome if they really want to progress and get good attention from crypto users.
Most altcoins will fail to provide low fees if them blocks are full. This is due to centralization and the short time interval between each block being mined.
In fact, it's not a problem to fail to provide low fees, as long as transactions are fast and users don't have to wait long. Instead of giving a low fee but having to wait hours for it to arrive, I personally would be happier with a fast transaction even though the fee is a bit expensive.
Because sometimes to make a profit in this cryptocurrency requires speed in action, being a little late can fail to make a profit.
-
Arbitrum has failed twice before this if anyone could still believe in their calling approach probably they were not looking at the actual tech behind it, if a back-and-forth airdrop can crash it it means that actual real-world usage for a day would clog it for a month. Either way, when you have a l2 on top of a congested chain and you still don't learn the basic lesson and try to use your token in this mess (obviously financially motivated) you're going to experience the exact same story, and then what's next l3?
As for zksync, same RPC capacity issues that plagued Solana
Arbitrum encountered some issues when the number of transactions suddenly increased in a short period of time. However, the same thing has not been repeated recently, I hope Arbitrum team has been able to fix the bugs and improve Arbitrum's capabilities so that it can serve the needs of larger users in the future.
zkSync is just a new project, there are still problems that exist and need to be fixed. I am not surprised by the instability of Layer-1 and Layer-2 networks in this cycle. They are just experiments to scale the blockchain and are bringing many positive values to the market: users pay less, which means they can invest more in the most potential tokens. I hope the project teams will quickly find solutions to the problems of the platform and ecosystem to ensure the user experience.
-
zkSync is just a new project, there are still problems that exist and need to be fixed. I am not surprised by the instability of Layer-1 and Layer-2 networks in this cycle. They are just experiments to scale the blockchain and are bringing many positive values to the market: users pay less, which means they can invest more in the most potential tokens. I hope the project teams will quickly find solutions to the problems of the platform and ecosystem to ensure the user experience.
ZKsync is not exactly new, they had chain ready even before arrival of arbitrum/optimism, I remember paying via zksync around 3 years ago on Gitcoin, I had high hopes from it because it just felt good to use, paying via alts for gas fees was nice edition — the progress till token launch recently isn't much.
-
I just find this infuriating a bit, you are meant to be a scaling solution and can't handle congestion yourself, what?
Maybe they are there just to make some money by offering this illusion that they can provide scalability and now we can see that they are failing on the test. What a big shame! Look, if a platform could not perform what it is expected to do so, then we have a big problem. I am sure they would be announcing that they are working on their scalability issue maybe by telling us that solutions can be coming and then we realize that the solutions are not enough. Maybe we are just joking here and the joke is on us. I am not then wondering why memecoins based on jokes are fast catching up in the cryptocurrency market...we love jokes even if the jokes are directed on us.
-
For me, the layer2 solution doesn't contribute anything to layer1 and neither does the next layer to the previous one. They're like saying, "Hey, their network is down, just use ours! We copied theirs and made a few improvements so things aren't much different really. Just exchange their more expensive native coins for ours to start making transactions!"
-
Arbitrum encountered some issues when the number of transactions suddenly increased in a short period of time. However, the same thing has not been repeated recently, I hope Arbitrum team has been able to fix the bugs and improve Arbitrum's capabilities so that it can serve the needs of larger users in the future.
Arbitrum hit its cap, that's all, they designed a stupid giveaway that needed to be double-signed and they reached the max they could confirm because of their limitations, their only way to get more capacity is more fees or a cheaper L1 chain, which will not be!
zkSync is just a new project, there are still problems that exist and need to be fixed. I am not surprised by the instability of Layer-1 and Layer-2 networks in this cycle.
zkSync is just as old as Solana and has the same problems, the RPC nodes capacity, they can scale that course but it will come at the same costs of decentralization:
https://docs.zksync.io/zksync-node/running-node
it's already out of the average Joe home user specs.
-
Arbitrum hit its cap, that's all, they designed a stupid giveaway that needed to be double-signed and they reached the max they could confirm because of their limitations, their only way to get more capacity is more fees or a cheaper L1 chain, which will not be!
zkSync is just as old as Solana and has the same problems, the RPC nodes capacity, they can scale that course but it will come at the same costs of decentralization:
https://docs.zksync.io/zksync-node/running-node
it's already out of the average Joe home user specs.
The Arbitrum airdrop was pretty stupid but it also helped Arbitrum gain attention, users, and money flow in the market as one of the most popular and active Layer-2 projects in the market, comparable to Optimism and Base. I think this was a wise plan, even though it could cause a lot of trouble for the ARB token price increase in the present.
zkSync may have been around for a long time but I only really became aware of it when its airdrop had a lot of problems and the Layer-2 trend became popular with the launch of OP and ARB. Honestly, I don't understand the technology well, but if zkSync has the same problems as Solana then its team will need a lot of effort to fix and improve the stability of the network! Anyway, we are not ready to use zK rollups right now!
-
I also think these layer 2 projects failed to solve the problem they promised to solve right now. It's still pretty expensive to interact with smart contract calls when I use Linea, not sure whether they have a plan to fix that or not considering how often they farm fees. If there are no airdrops or something similar I'm sure these projects will die quickly. Then again there's a chance they will introduce a new trend to make their project stay relevant, with how easy it is to spam ads on Twitter right now.
-
That's true when there is low activity these chains are fine to use, but what I mean is if you can't handle the high activity, what exactly is point of you to exist?
That is the problem most Layer 1 chains faced and now the Layer 2 are going through the same phase. That is why Layer 3 chains have come into existence doing the same thing on Layer 2. I feel we may in the future see a Layer 4 if the Layer 3 goes through the same crisis.
I hope it wouldn't happen. I recall there are over 40 operational Layer 2 for ETH where some people already confused which L2 they should choose.
-
I hope it wouldn't happen. I recall there are over 40 operational Layer 2 for ETH where some people already confused which L2 they should choose.
No, the plan is to
- create a L1.5 layer that will bridge Layer 1 alts with Layer 2 alts
- create a L3 that would bridge different L1.5 to their counterparts
- create a new -L1 layer that would act as a complete ledger of all layers
- create a new LX on top of that to allow for movement from the main ledger to any other layer
Something like a mille-feuille cake, delicious ;D
-
I also think these layer 2 projects failed to solve the problem they promised to solve right now. It's still pretty expensive to interact with smart contract calls when I use Linea, not sure whether they have a plan to fix that or not considering how often they farm fees. If there are no airdrops or something similar I'm sure these projects will die quickly. Then again there's a chance they will introduce a new trend to make their project stay relevant, with how easy it is to spam ads on Twitter right now.
I think Optimistic Rollups Layer-2s are working quite well and providing users with a much faster and cheaper experience than Ethereum Layer-1. Optimism, Arbitrum, and Base can really support the development of Ethereum's expanding ecosystem in this cycle, so that Ethereum can focus on larger goals like tokenization.
zK Rollups still have many problems to solve, and this is completely normal because it is a new and extremely complex technology, to the point that Vitalik Buterin has also confirmed his concerns about this issue. I think we can only expect this technology to mature in the next cycle, and in this cycle the Layer-2 trend belongs to Optimistic Rollups!
-
Let's take an example of Arbitrum and Zksync, these two aim to scale ethereum, decrease congestion and provide cheaper gas fee. Meanwhile, these same two chains got congested during the airdrop claim of $arb and $zk respectively.
I just find this infuriating a bit, you are meant to be a scaling solution and can't handle congestion yourself, what?
Hmm, well that's a valid point but that airdrop claim traffic was too loaded on the network compared to the normal circumstances because that was an ideal situation. Hundreds of thousands of transactions at the same time hmm that usually never happens, let me show you.
Some of that was the issue but yup they are a scaling solution their efficiency should be flawless, but in comparison to ETH they are still efficient maybe with some other upgrades this will get fixed.
-
Let's take an example of Arbitrum and Zksync, these two aim to scale ethereum, decrease congestion and provide cheaper gas fee. Meanwhile, these same two chains got congested during the airdrop claim of $arb and $zk respectively.
I just find this infuriating a bit, you are meant to be a scaling solution and can't handle congestion yourself, what?
Actually, the layer 2 blockchain itself didn't get congested during the airdrop claiming period. The airdrop claiming app did.
These websites or apps for claiming airdrops usually have a maximum traffic capability.
-
Let's take an example of Arbitrum and Zksync, these two aim to scale ethereum, decrease congestion and provide cheaper gas fee. Meanwhile, these same two chains got congested during the airdrop claim of $arb and $zk respectively.
I just find this infuriating a bit, you are meant to be a scaling solution and can't handle congestion yourself, what?
Actually, the layer 2 blockchain itself didn't get congested during the airdrop claiming period. The airdrop claiming app did.
These websites or apps for claiming airdrops usually have a maximum traffic capability.
That's untrue, the gas fee tends to be significantly high during airdrop claim periods, it means the network itself also gets contested, plus the technically sound people claim the airdrops via interacting with smart contracts directly if the frontend doesn't work.
-
I guess I'm one of those people who already accepted the fact that there's no real decentralized solution. When Ethereum started it all and became popular for taking advantage of Bitcoin's network congestion, why are we still surprised about the failures of these newer projects with scaling 'solutions'? Pretty soon it will be layer 3s turn but the same problem will most likely occur.