In a since deleted post, I believe a reddit developer was saying it’s ~500 million users
cross-posted from: https://lemmy.ml/post/88345
Do they want users to switch to the fediverse?
Bonus It will have no direct impact since it runs on Arbitrum, a solution built on top of Ethereum. These 500m accounts and their tokens will not be directly put on the main chain, so any growth in Ethereum as a result is only from the greater fallout of adoption.
Answer:
It will have no direct impact since it runs on Arbitrum, a solution built on top of Ethereum. These 500m accounts and their tokens will not be directly put on the main chain, so any growth in Ethereum as a result is only from the greater fallout of adoption.
The raw figures are around 1 transaction every couple months. More would be done in testing than 10 years of production, and the number would still be less than I have personally made
It doesn’t run on chain. Ethereum can’t handle all the apps running on the main blockchain, so instead there’s little blockchains on the side that just use the validation of the main blockchain and every few months sync up with a single transaction.
Arbitrum is one of these side blockchains - so it’s not secured by miners directly, but can at any point sync up. The sync is only one transaction. There’s some semantics on how it’s still secured/doesn’t make an insanely massive transaction/etc but I don’t follow it that closely.
There’s other “off-blockchain” solutions besides Arbitrum (i.e. Bitcoin has the Lightning Network, and there’s other different ones on Ethereum too). As another example, GameStop uses an “off-blockchain” solution on Ethereum called Loopring, although it’s been a while since I was into crypto so I’m not too sure on the details for how that one works.
It will have no direct impact since it runs on Arbitrum, a solution built on top of Ethereum. These 500m accounts and their tokens will not be directly put on the main chain, so any growth in Ethereum as a result is only from the greater fallout of adoption.
It doesn’t require mining for users to use their tokens?
The raw figures are around 1 transaction every couple months. More would be done in testing than 10 years of production, and the number would still be less than I have personally made
It doesn’t run on chain
Blockchain noob here. What do reddit tokens have to do with ethereum if it isn’t on blockchain?
How would users own their own ‘community points’?
Ethereum can’t handle all the apps running on the main blockchain, so instead there’s little blockchains on the side that just use the validation of the main blockchain and every few months sync up with a single transaction.
Arbitrum is one of these side blockchains - so it’s not secured by miners directly, but can at any point sync up. The sync is only one transaction. There’s some semantics on how it’s still secured/doesn’t make an insanely massive transaction/etc but I don’t follow it that closely.
There’s other “off-blockchain” solutions besides Arbitrum (i.e. Bitcoin has the Lightning Network, and there’s other different ones on Ethereum too). As another example, GameStop uses an “off-blockchain” solution on Ethereum called Loopring, although it’s been a while since I was into crypto so I’m not too sure on the details for how that one works.
Thanks for the explanation!
