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$XTZ Price & Trading Discussion Tezos Markets: https://coinmarketcap.com/currencies/tezos/#markets https://www.coingecko.com/en/coins/tezos/trading_exchanges#panel
BC
$0.005|0.00000008₿
Ξ: 0.00000177
H|L: 0.00 | 0.01
1h: -0.38% 😕
24h: -8.49% 😰
7d: -10.89% 😢
Vol: $16.6K
GRVT zksync mystery box🎁
Konstantin Forgot to send you a private baker that has his whole balance locked (staked) with zero delegations.
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They think that with decentralized networks it will be like with Linux, a community that will independently develop the project, well, some can be helped financially until the fund is empty
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I think it is right to recognize funds of different networks as private companies that promote their project, bakers or miners are informal employees of the company, whom the company cannot influence.
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According to Tezos x roadmap L1 will be only for staking, consensus and DAL
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Probably they expect all major activities to be on L2
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the cost of it should be high enough to not even think about it
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For example I can start filling the blocks during market crash targeting whale txes like we had recently, and the cost of it is very affordable even for poor attacker. If you can hold off whale transfer tx from being included into the block for 1 hr, its gone and they have to resubmit
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also cheap fees are attractive not only for regular users, but attackers too
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BTC
$60,911.81
Ξ: 23.42902000
H|L: 61,495.00|59,604.00
1h 0.05% 😏
24h 0.47% 😏
7d -1.36% 😑
Cap: 1st | $1.2T
Vol: $25.5B
👉 @WhaleBotAlerts
Only here there is a difference from Linux, decentralized networks will not exist without bakers, you can’t just become a baker, it’s not enough to just launch a server, you need to buy XTZ, this is protection from malicious actions, bakers will not constantly work in the minus, here it is necessary at least that there are no losses, for this you need profitability.
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Yeah I agree but I’m afraid they have different views
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If there is no profitability, then the business is bankrupt, decentralized networks are also a kind of business that now only rests on faith in a bright future
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in any case, there will be operations on the network that require payment and it should be reasonable, not too expensive, but not too cheap
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If I understand correctly, L2 is what accumulates a large number of operations and then moves them to L1 for confirmation on the network?
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Talking about basefee burns (like ETH or AVAX or SOL).
Imagine if you are the attacker, and you run your own baker. In the blocks you bake, you are ultimate dictator. You can censor and reorder txes, but everyone knows that and thats not interesting. What is interesting is that you can set any fees to your own txes in this block as 100% of them will return to you. That allows some creative attacks by creating fake arbitrage opportunities in the blocks you bake and then baiting arbitrageurs into race for it, pumping the fees you gonna collect. You absolutely can't lose in this race. You either win or there is a draw in worst case. You don't need to censor or reorder anything so default baking setup perfectly fits for this. If there was a let's say 50% fee burn, it would be guaranteed loss for the attacker so he needed to very carefully consider the attack for profits from it outweight the losses. At current time, it's 100% safe
I'm not sure why fee burns (even smol) are not considered for xtz, as it's not just a way to reduce supply (fees are too cheap anyway to have visible effect), but also add some security by introducing more risks for manipulators
you can easily cause problems with deposits or withdrawals from cexes by monitoring mempool and targeting their addresses. even if they replace stuck txes with higher fees, you can see that and replace yours too so theirs will continue to be stuck
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Balanced fees add to security of ecosystem as they introduce some risks to attackers. Partial fee burns add even more security (e.g. eip-1559)
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at this point we ether need to have ~500x more usage than we have now to balance it out, or pump the fees up
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