light-client VS pm

The information arbitrage is pretty remarkable because they get a bunch of money for printing air tokens out of thin air and selling a portion of it. They then use the money mainly to control narratives. How many people even know that literally all eth traffic runs through central infura servers? Why? Because it doesn't scale without central servers. It also doesn't scale on-chain which is what they promised 7 years ago when they asked you to give them bitcoin to create a turing complete blockchain. They tried a lot of other stuff before roll-ups with centralized sequencers with trusted multisigs. They even tried to copy Lightning and funded Raiden network.

Examples: Bitcoin’s Lightning Network, Ethereum’s Raiden Network

Think of the blockchain as being the settlement layer between banks, and each roll-up or payment channel as its own bank.

Raiden Network - an instant payment solution with low fees compatible with all ERC-20 tokens.

Just an FYI: with Hub20 you can accept payments with any Ethereum-compatible blockchain and any scaling solution that uses the RPC interface (e.g, Polygon, Arbitrum, Optimism, Gnosis Chain). It also works with Raiden, which is akin to BTCs lightning network.

Except that anyone with a minimal involvement with Ethereum already knows that the base layer is not meant to be used on day-to-day operations.

We already learned about the decentralization trillema. The strategy to scale Ethereum through will be through the adoption of "layer-2" systems, where users are expected to be doing their transactions and avoid these costly transactions altogether.

There are roll-ups already dealing with NFT marketplaces [0]. There are roll-ups that can execute any type of ethereum smart contract [1] [2]. There are payment channels that allow completely decentralized and gas-less transfers of ERC-20 tokens [3].

[0] https://loopring.io

[1] https://optimism.io/

[2] https://offchainlabs.com/

[3] https://raiden.network

Raiden Network, ethereum's equivalent of lightning network, has been live on mainnet since 2020. It has little to no traction/usage as rollups are a much better scaling solution than state channels.

For those that are technical, the main selling point is its integration with layer-2 systems and support for multiple chains. It doesn't matter if you want to accept payment with Raiden or Arbitrum/Optimism, or xDAI/Polygon or BSC, your frontend does not change at all.

The point you are so reluctantly refusing to see is that it is about options and the long tail. Yeah, the majority of business and people are fine with the status quo. It doesn't mean that the rest should just conform.

> Other than that, unless you use Nano, every crypto transaction comes with a fee (...) slower than normal transactions

- https://raiden.network (near-zero fee transfers, akin to Lightning Network, running on Ethereum)

Raiden network is probably the closest equivalent of lightning network, but there are a couple of other projects using similar technology on Ethereum.

Get involved in the next public testnet. Holešky testnet (Goerli successor) first launch coordination call June 15, targeting September genesis https://github.com/ethereum/pm/issues/803

Attend some All Core Dev meetings if you have doubts https://github.com/ethereum/pm

EIP4844 readiness checklist: https://github.com/ethereum/pm/blob/master/Breakout-Room/4844-readiness-checklist.md

Dencun upgrade with EIP4844 is likely later this year, which will bring lower cost Layer 2 transactions. Follow the readiness of EIP4844: https://github.com/ethereum/pm/blob/master/Breakout-Room/4844-readiness-checklist.md Prague + E starname upgrade is probably 2024, possibly focused on EOF, then followed by a Verkle tree focused upgrade, but none of this has been decided.

There's an EIP 4844 readiness checklist.

The live date for the Shanghai upgrade is likely to be April 12, occurring at epoch number 620,9536. This was announced during the All Core Developers Execution Layer #157 call on 16 March 2023.

On December 8, 2022, the Ethereum core team held an All Core Developers (ACD) meeting. The Ethereum team agreed to target March 2023 as the release date for Shanghai’s mainnet launch. However, this is a tentative date based on the assumption that the Zhejiang, Sepolia, and Goerli testnets are successful.

Shanghai is the next major upgrade for the Ethereum network, following the Merge in September 2022. Key highlights of what to expect include: