The Emperor’s New Garments : ethereum

People have a foul behavior. It is that they lie. This downside was a headache that even God couldn’t remedy. Nevertheless, a expertise has emerged to unravel this downside, no less than partially. It emerged from cryptography, of which blockchain emerged primarily based on a expertise referred to as digital signature, and thru it, no less than lies about {qualifications} could possibly be faraway from the world.

There are three sorts of lies on this world.

The query of mendacity about {qualifications} is that of the Byzantine Common. A goes to inform B, “I am going to see you tomorrow.” Digital signature expertise is a expertise that ensures that this message is delivered with out forgery by the sender within the center. This solves the Byzantine Common Downside.

The issue of mendacity about content material is the Oracle downside. It’s like despite the fact that A has no plans to go to see B tomorrow, he’s sending the doc to tease B. On this case, the digital signature turns into meaningless.

The lie about intention is that A goes to see B tomorrow, however the hidden function is to steal property from B’s protected. This downside might be regared as a sort of Oracle Downside. It’s the similar as if a malicious DApp programmer creates and deploys a sensible contract code that mechanically adjustments the tackle of the receiver to that of him.

This may also be referred to as a code oracle downside in preparation for the info oracle downside. As a mainnet developer, there may be nothing important within the expertise of blockchain apart from the expertise of digital signatures. That stated, this solved the Byzantine normal downside, which led to great innovation. It’s because it cured a few of human mendacity habits that even God or the regulation couldn’t succeed. Now, if we remedy the 2 remaining Oracle Issues, the world might be utterly free from lies. In brief, blockchain means half the success within the wrestle in opposition to humanity’s mendacity habits.

Nonetheless, the blockchain is nothing greater than overcoming the Byzantine Common Downside. In different phrases, it is just half success, not full success. Technically, it’s nothing greater than an digital signature. Different miscellaneous expertise are both already current expertise or simply extraordinary expertise that may be developed by hiring an average-headed worker. Most current blockchains are nonetheless very primitive or infantile. They haven’t escaped the primary era. The title Web3 is absurd. Talking of which, I can not assist however level out extra particularly.

Essentially the most comedy of the elements that make up the blockchain is the gasoline prices. The identify itself is a lie. Fuel payments are solely a safety measure to stop mischievous hacking, that is, infinite repetition. In different phrases, the true identify of gasoline prices is safety prices. The official Ethereum doc additionally confesses to this.

“In brief, gasoline charges assist hold the Ethereum community safe. By requiring a charge for each computation executed on the community, we stop dangerous actors from spamming the community. … “

https://ethereum.org/en/builders/docs/gasoline/

Nevertheless, when Satoshi first developed Bitcoin, he was confused in regards to the idea. The concept of gasoline prices was unclear in his thoughts. In consequence, the gasoline value downside stays probably the most severe issues of the blockchain. The aftereffects nonetheless linger. Ethereum continues to be receiving gasoline prices and placing the burden on shoppers.

Moreover, the low gasoline value will increase the priority of infinite repetitive assaults. In different phrases, it is not all about reducing gasoline prices. Fuel prices must be applicable. Specifically, the factors for appropriateness shouldn’t be primarily based on ELECTRICITY CONSUMED, however on SECURITY RISKS. In different phrases, regardless of how small the scripts or the computation is, excessive gasoline prices must be imposed on the scripts with excessive safety dangers, and gasoline prices must be lowered or exempted if the safety threat is negligible.

Subsequently, the very first thing to do is to alter the identify of the gasoline prices to the safety prices. The identify of gasoline value causes an unknowingly phantasm, and the phantasm attributable to Satoshi nonetheless has unintended effects.

The suitable option to impose gasoline prices, or safety prices, must be primarily based on the next three standards.

1. Goal – Imposition as a safety value, not gasoline value

2. Adequacy – Imposition primarily based on achievement of function, neither excessive nor low

3. Accountability – Imposition solely to these accountable. Return to those that aren’t accountable

On this regard, to provide an instance of Ethereum among the many current blockchains,

1. Goal – There’s a notion that it’s charged as safety prices, however the quantity of gasoline charged for particular person transactions continues to be primarily based on electrical energy consumption, not safety dangers. They’re nonetheless in chaos.

2. Adequacy – too excessive or too low.

3. Accountability – Sincere scripts pay the identical gasoline prices as malicious scripts.

The blockchain ecosystem continues to be infantile, and expertise can be infantile. What’s extra comedy right here is the identify Web3. Buterin made the crown himself and put it on for himself. Nevertheless, simply because the digital signature expertise was adopted, the technical content material continues to be too poor for the present blockchain to put on the crown of Web3. I questioned at first as a result of I did not know what the identify Web3 meant. After some time, I could not assist however giggle after confirming that Web2 and Web1 akin to Web3 had been the prevailing Web2 and Web1 used within the web. If Buterin desires to put on the Web3 crown, he ought to have even solved the Oracle Downside earlier than that.

I assume Satoshi or Buterin is somebody who does not have a lot expertise in net programming. In the event that they had been conversant in net programming, they might absolutely have launched a flexible database, that is Mysql, from the start. There isn’t a cause to create a separate database within the blockchain. Ethereum is simply now introducing MongoDB, one of many versatile databases.

For the above causes, I argue that every one current Bitcoin and Ethereum platforms must be discarded. Defects within the preliminary core degree completely trigger issues and burden the system as an entire. In fact, being discarded doesn’t imply that every one cash which have already been issued will disappear. A whole switch is feasible by applied sciences resembling crosschain or multi-chain. Within the case of DApp, that’s, good contracts, there may be additionally no downside in migrating the prevailing DApp as it’s. In actual fact, there are numerous such DApp platforms.