Metaphorical cheers and laud claps were heard across eth spaces as cats were once again seen roaming freely on the blockchain following a raising of the gas limit by ethereum miners.

Ethereum’s capacity has now risen to 7.6 million computations per block, up from around 6.7 million, and seems to continue rising at the time of writing.

As can be seen above, blocks are still full because thousands of transactions are waiting to move, but the queue has been dropping from 25,000 to 20,000.

Fees are also coming down. They were at 57 cent yesterday, now they stand at 28 cent and might drop further in the coming hours/days.

It is unclear at this stage whether miners have raised the gas limit following some simple protocol improvements, or whether they have opted to give the network some breathing room while we wait for these improvements

Read the full article: http://www.trustnodes.com/2017/12/10/ethereum-miners-save-kitties-capacity-raised

Source: cuvialabs.com

Joel Monegro wrote an insightful piece on crypto-economics called “The Fat Protocol” .  In it,  he concludes that unlike the Internet which is monetized at the application level,  the Blockchain is monetized at the protocol level.    This is analogous to owning a piece of TCP/IP and deriving an economic benefit every time it is utilized.   We created the Monegro Index as a homage to Joel and to clearly illustrate and track this crypto-economic principle.

The economic implication of “The Fat Protocol” are many.   As an investor in a Blockchain application or sub-token,  you are giving up protocol token for app tokens,  which are arguably much less valuable.  As a blockchain app developer,  you are giving up app tokens in exchange for protocol tokens.   Unlike the Internet,  there is an economic disincentive to standardize.   Interesting to see how this all shakes out.

Weiterlesen

Nick Johnson gave a glimpse of what is upcoming for ENS. Here are the highlights for those who can’t wait:

DNS Integration via DNSSEC

Soon, you will be able to go to your favorite wallet/client, type in “amazon.com”, send ethers, and magically amazon will receive their payment. No need to first look for the ens name of the business. This is enabled though a mechanism called DNSSEC (Domain Name System Security Extensions)

More about DNSSEC here:

This is worked for .xyz domain first, more will roll out after that I guess.

Makes us wonder, why bother buying an ENS name at all?

But if you take a long view, this is a bold yet very good first step, to bridge block chain to traditional internet, even at the expense of losing exclusivity. All of a sudden, hoarding ENS names isn’t attractive anymore, freeing up the platform to meet its true goals of name resolution. This should also make adoption much easier, now any .com website can start accepting ether payments with just one setup in their DNS Registry.

New Name Registration Process

Current registration process requires you to first start bidding, then reveal, then finalize. Once you start bidding, people can potentially snipe. They will definitely snipe if you are bidding on a dictionary word (or one of the top 1 million famous .com domain names). Sniping is made even more easier when you bid through MEW (since MEW default UI does start auction and bid together always, without any decoy bid) I personally have lost several good names I was bidding due to sniping (as well as sniped others, you just can’t resist).

This is changing with the new permanent registrar. There will be a rolling 48 hour window, you can just bid on a name instead of starting an auction first. And you reveal in the next window. If a person bids later, they will get full refund.

Note: A tip if you are bidding right now for a dictionary name. Go check if ensbot tweeted your bid. If it did, submit another bid for the max ether you can afford for that name, but using a different wallet (different wallet is the key). So why not bid initially with max ethers? That gives options for others to outbid you. Why making two bids work often? Say you made your first bid with 0.011 ETH, and then made a second bid using different wallet for 0.08 ETH, the sniper has no way to know that the second bid is for the same name, so, she will try to counterbid you by posting a bid for 0.012 ETH (or higher based on their cryptowealth). You are at-least making her think harder, and even if you lose, atleast you made her pay 0.08 not 0.011.

Weiterlesen

Introducing Name Bazaar

A peer-to-peer marketplace for the exchange of names registered via the Ethereum Name Service

Today we are thrilled to announce the long awaited public launch of our second marketplace and district, Name Bazaar, to the Ethereum mainnet. Work on Name Bazaar began immediately upon the close of our network fundraiser in August, and this release represents the culmination of many hours of effort from all district0x team members.

At its core, Name Bazaar allows for peer-to-peer, trustless exchange of cryptographic assets on the blockchain in the form of ‘names’, or Ethereum Name Service (ENS) domains. It serves as a prototype framework for a vast collection of marketplaces to come to the district0x Network in the future.

How Does it Work?

The ENS system contains a registrar and auction process which allows any Ethereum user to register and acquire a name via auction. However, no resale mechanism is provided, meaning once a name is registered and owned, the owner has no way of trustlessly transferring ownership of the domain on the blockchain through smart contracts.

Weiterlesen

Unless you’ve been living under a rock for the past three years, you have surely taken notice of an industry buzzword that has been giving “machine learning” a run for its money: Blockchain.

Ethereum is one of the most successful implementations of the distributed blockchain concept. In contrast to Bitcoin, which offers limited scripting capabilities, Ethereum provides a Turing-complete virtual machine. State transitions in the network (such as a changes in account balance of a particular token) are regulated by code running in the virtual machine, a.k.a. “smart contracts”.

Weiterlesen

Roundup #6

Posted on .

Metropolis is finally (almost) here! The fork for Byzantium, the first and larger part of Metropolis, succeeded on the testnet over two weeks ago, and the likely date for the fork on the mainnet has been set to block 4.37 million, which is expected to be on Oct 17. New features include opcodes such as REVERT and RETURNDATACOPY, as well as precompiles that can be used to support a wide array of cryptographic algorithms. At the same time, we have been seeing many improvements to Ethereum core code, Whisper, Swarm as well as Ethereum’s future scaling plans.

Weiterlesen