light-client VS gastoken

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.

There is e.g. the GasToken project that kind of abuses this behaviour by tokenizing gas costs, create those tokens when they are cheap and destroying them while sending transactions. This reduces the gas costs of a tx synthetically: https://gastoken.io/

It did. The last Ethereum upgrade specifically targeted and killed them (amongst a variety of other changes)

Here are two-three implementations of that concept:

https://blog.1inch.io/everything-you-wanted-to-know-about-ch...

https://gastoken.io/

last year's reporting on the planned changelog

https://decrypt.co/77345/ethereum-london-hard-fork-make-some...

Gas tokens: https://gastoken.io/ Didn't get around to trying, looks interesting.

There’s a token called gas token GST2 it basically reduces the fee significantly Here’s some info https://gastoken.io/ In binance app we can swap tokens for almost no charge

The gas fee is the same regardless of how much you're sending, it's a just a fee for the cost of running a given smart contract. You can actually store gas through https://gastoken.io/.

GasToken is deployed, an Ethereum contract that allows users to tokenize gas on the Ethereum network, storing gas when it is cheap and deploying it when it is expensive.