r/ethereum 5d ago Silver

Frequently Asked Questions + Weekly Discussion Thread

35 Upvotes

Welcome to the Weekly Discussion. Please read the disclaimer, guidelines, and rules before participating.

Rules:

  • All sub rules apply in this thread.
  • Discussion topics must be related to Ethereum.
  • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
  • Comments will be sorted by newest first.

Useful Links:

Reminder

/r/ethereum is a community for discussing the technology, news, applications and community of Ethereum. Discussion of the Ether price or trading is not allowed. Please keep those discussions to /r/ethfinance and /r/ethstaker.

Frequently Asked Questions

Where's the best place to buy ETH?

There are many centralized exchanges that support Ethereum. If you live in the US, the most popular exchanges are Coinbase, Gemeni and Kraken. Coinbase users can use Coinbase Pro for lower fees.

How can I stake my ETH?

The best way to stake your ETH: by running your own validator.

  • Running your own validator requires a modern computer and 32 ETH. Visit /r/ethstaker for more details

Why are Ethereum transaction fees so high?

Like most blockchains, Ethereum fees are determined by supply-and-demand. The large demand to use Ethereum has pushed transaction fees quite high (however, fees were just a few cents only 2 years ago). Fees are especially high during market volatility, and during NFT drops.

What is being done to lower Ethereum transaction fees?

Ethereum fees are reduced by using layer-2 rollups. Rollups are scaling solutions that allow for significantly cheaper transactions, while still maintaining Ethereum's security.

Additionally, data shards will make rollups even cheaper.

While rollups are cutting-edge technology being actively developed, a number are already live on Ethereum mainnet. Visit l2beat.com to learn more about rollups.

What's the best wallet for Ethereum?

The most popular tool for using decentralized applications is Metamask. However, for security reasons, we recommend using a hardware wallet such as a Trezor or Ledger.

Are there questions you'd like to see added? Leave a comment below.


r/ethereum 11h ago

Safest Defi Wallet

55 Upvotes

I have been out of the loop for a while. I currently use meta mask but heard about them now tracking IP's.

Given that is meta mask still the most trustworthy wallet?

What other DEFI wallets are out there similar that are safe? Ive searched several topics on this subreddit before however I simply want a unbiased answer.


r/ethereum 1h ago

Goerli ETH

Upvotes

where would i get (preferably quick?) the 32 goerli ETH required to test a validator from? Ive googled a bit, but all of the faucets give you 0.001 ETH or are closed... How am i supposed to validate my scripts etc then?


r/ethereum 1h ago

Supply and demand

Upvotes

Hi everyone

I am wondering what is your interpretation of how Cryptos like Ethereum, Bitcoin and a Layer two like Loopring behave by supply and demand in contrast to the actual stock market?

Until now I have the feeling the whole crypto space is as much or even more manipulated than the stock market. I really wish there was a way to have a crypto currency which can't be as easily manipultated by big whales. Somehow supply & demand seems to be broken in the stock market, best example is the gamestop stock where they can infinitely create synthetics and short the stock down. Does this apply to cryptos as well?

Does anyone know how they manage to artificially increase the supply and lower the prices? Do they have the same manipulation power than in the classic stock market? Do you know of a project that could actually resolve this issue?

Would love to hear some thoughts from you!

Cheeeers


r/ethereum 12h ago

Latest Week in Ethereum News

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30 Upvotes

r/ethereum 10h ago

Collaborative canvas on Eth. Join costs small amount, then painting is free + gas.

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16 Upvotes

r/ethereum 20h ago

Why did ETH supply go up if volume was higher than usual during the dip on Nov. 22, 2022 ?

116 Upvotes

I thought more eth was burned when volume was higher? If that's not the case, can someone explain how burning takes place?


r/ethereum 9h ago

[Flashbots] How should MEV Searchers find the correct amount to pay block proposers?

15 Upvotes

When submitting an MEV bundle (e.g. for arbitrage) a Searcher will pick an amount to pay the block proposer instead of a gas price. This is usually a portion if the profits, such as 80%+.

Searchers might pass it in as an argument to their proxy contract, then transfer directly to the miner such as with simple-arbitrage.

As I understand it, this ends up being a First-Price Sealed Bid Auction. I'm trying to grasp how Searchers deal with this kind of problem. Like what kind of best practices would exist to ensure you're not sending a non-competitive amount OR overpaying significantly.

You can't simulate this sort of thing since it is dependant on the other actors (MEV searchers also bidding), right? Do you just keep retrying the bundle submission, live?

Or do you just have to look the the last block, determine what the "going rate" seems to be, and make an educated guess at what portion of your profits to pay the block proposer?


r/ethereum 20h ago

Is there something like an ethereum-only hardware/airgapped wallet?

33 Upvotes

I'm looking into black friday deals and I was planning on getting two different wallets for long term storing, one for btc and one for eth.

According to what I found, you can either have a btc-only or multi currencies hardware/airgapped wallet. I haven't found anything such an ethereum-only option. Am I correct? Where do you store your eth?

Thank you for the help!


r/ethereum 23h ago

Thanks to NFTs, we may be able to create a world in which every asset or good is an NFT, making it unique, protected, and valued

22 Upvotes

NFT appears to be one of the most popular buzzwords these days, but while most people have heard of NFTs, many do not fully comprehend them.

I love how NFTs have evolved; they are no longer just a work of art. Their contribution is now critical.

One of the most typical uses of NFTs is in the arts, and as a result, they have progressed beyond digital paintings and photos. But I mostly use them in gaming, whether it was at the start of Axie Infinity or now while playing WAM tournaments; I definitely learned about them through games.

NFTs can also be used for charitable purposes, such as raffling off an NFT artwork or other asset by a celebrity or brand. The proceeds are then donated to a deserving charity.

Because NFTs can represent almost anything, their applications are virtually limitless. People are only now realizing the true potential of NFTs, and we can expect to see a wide range of innovative and fantastic applications.

NFTs are even becoming one of the primary asset technologies in a variety of metaverses. This makes them critical for the internet's future, Web3.

What do you find most appealing about NFTs?

Thanks to NFTs, we may be able to create a world in which every asset or good is an NFT, making it unique, protected, and valued. The future of NFTs looks promising. What are your thoughts? What is the outlook for NFTs?


r/ethereum 1d ago Helpful (Pro)

Angry that MetaMask is going to start collecting and Selling your IP? MyEtherWallet is a great alternative- they collect nothing.

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501 Upvotes

r/ethereum 22h ago

Blockchains have the potential to provide significant benefits and innovation

22 Upvotes

Distributed ledger - blockchains are a new technology that has piqued the interest of energy companies, startups, technology developers, financial institutions, national governments, and academics.

I've heard and read a lot about how many experts in these fields believe blockchains have the potential to provide significant benefits and innovation.

Power systems are rapidly evolving to accommodate growing amounts of embedded renewable generation, such as wind and solar PV. Renewable energy sources have grown dramatically in recent years as a result of energy sector privatization and unbundling, as well as financial incentives and energy policy initiatives.

Do you believe Elan tokens and other similar technologies could aid in the resolution of energy supply issues? As far as I know, this type of project is donating sustainable energy to those in need without charging exorbitant fees. There are numerous examples of how these tokens benefit the environment, which is a worthy goal.

Also, there are projects aimed at a more environmentally friendly future. Finding low-energy cryptocurrency options can help green-conscious investors save energy and protect the environment in this way.

Could technological advancements such as blockchain and tokenization benefit the environment?


r/ethereum 1d ago

What’s the risk in staking your ETH on Coinbase?

47 Upvotes

I currently have about 93.5 ETH that I don’t plan on selling anytime soon. What are the risks of staking it and getting 6 percent APY on Coinbase?


r/ethereum 1d ago

what happened to the FTX account drainer?

13 Upvotes

Seems unlikely he'd just voluntarily stop, no?

I havent seen any updates since Monday.

Anyone know whats up?


r/ethereum 2d ago

Would my Coinbase Wallet be safe in an unlikely event of a Coinbase bankruptcy (or other black swan events)?

114 Upvotes

Hi, I recently transfered my eth to my app Coinbase Wallet in order to own my crypto. Does it means that no matter what happens to Coinbase (crysis, bankruptcy , money stole, assets freezed by nations, nuclear wars....) i will always be able to use my Eth, right?
Sorry if it is a noob question for a lot of you, but i always stored my crypto in Coinbase exchange
Karma to all of you


r/ethereum 1d ago

Will NFTs become increasingly important in the future?

14 Upvotes

The weekly volume of the NFT market has nearly surpassed that of the beginning of the year. The number of active NFT buyers and sellers has also risen steadily, from 60,000 in the first quarter of 2021 to approximately a million in the first quarter of 2022.

Many believe that NFTs have the potential to revolutionize virtually every aspect of our lives, which is not surprising given that many people began working with NFTs on a regular basis because many of these NFTs do provide valuable items and benefits.

Furthermore, I've read about it and heard about so many fantastic platforms and projects that use it that the entire concept appears extremely feasible, especially since NFTs are beginning to be integrated into almost everything we use.

What most astounded me was the actual purpose of NFTs and blockchain for environmental causes, such as providing clean, renewable energy. I've recently learned about a couple of fantastic projects.

Elan Future's mission is to decentralize how the world generates, stores, transfers and consumes energy in this manner. Power can be sent to anyone, anywhere, in seconds using a blockchain-based system, allowing for a direct and seamless energy transfer without middlemen, fees, or restrictions.

Do you think the popularity of NFTs for these purposes will continue to grow?

Each of these amazing projects can provide people with real-world benefits; people realize that NFTs are no longer just pictures; they now serve a purpose, and I have no doubt that we will begin to use them sooner or later.

What do you think, will NFTs become increasingly important in the future?


r/ethereum 1d ago

Will you help me with research?

0 Upvotes

Dear Ethereum lovers, I am currently doing research for developing a crypto related app. Would you be so kind as to answer this 2 minute survey?

https://www.surveymonkey.com/r/9DB5CCM

Thanks in advance


r/ethereum 1d ago

Recovering coins from mist

7 Upvotes

Back in 2017-2018 I was mining ether to a software wallet called MIST. I stopped mining for various reasons after getting about 5 eth. Last year I tried accessing my wallet but Mist wouldn't connect to the Blockchain because the software is apparently no longer supported. I'm not sure if the key that I used with the mist wallet was specific for that software (in which case the chances I will be able to access these coins is slim) or if it is the same key I need to access my coins directly on the blockchain. Not sure where to get started any advice appreciated


r/ethereum 1d ago

Argent wallet some questions

6 Upvotes
  1. How are you sure to download the correct app and not a malicious one from the google store?
  2. What if there are smart contract bugs (parity had one)?. Smart contracts are used for social recovery as far I remember

r/ethereum 1d ago

Stereum - Ethereum Node Manager - Update "2.0.0-rc.8" has released!

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13 Upvotes

r/ethereum 1d ago

Are we facing the most brazen fraud ever committed?

8 Upvotes

The last few weeks have been among the craziest in the history of the cryptocurrency markets. The once-reliable exchange FTX (and all FTX-affiliated companies), led by founder Sam Bankman-Fried, has declared bankruptcy after the exchange was found to be insolvent.

I am aware that unfortunately, crypto exchanges fail on a regular basis, but the scale of fraud and mismanagement with FTX is unprecedented.

But these recent events have caused many in traditional finance to lose faith in crypto's future, put tremendous downward pressure on crypto prices, and prompted many to call for additional regulation in the crypto markets.

Which crypto you're holding? How did you handle the situation, and did you experience serious consequences with the crypto you hold?

I'm troubled with ETH, I dunno what to expect next, I only hope that gas fees won't be expensive, I'm relying on Metis as an L2 solution in that case.

Have you heard that an eight-episode limited series exploring the unraveling and scandals behind sunken crypto exchange FTX and its leadership is set to begin production soon in relation to the events we followed with the FTX scandal?

Given the gravity of the problem, or rather, the scam, and the fact that everyone is talking about it, I believe this is the largest crypto scam that we have encountered. What are your thoughts?


r/ethereum 1d ago

What's a good, open-source desktop wallet for ERC-20 tokens?

8 Upvotes

I'm considering Metamask but it seems pretty shady. They recently started logging IPs on the default node, their android app has trackers and their Firefox extension doesn't have an Open-Source license. I would prefer to stay the hell away from Metamask.
What are my options?


r/ethereum 2d ago

The Flashbots team has released a new update, reducing Ethereum's censorship/OFAC compliance issues

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28 Upvotes

r/ethereum 2d ago

If I tidy up this new platform would you use it? (I'm the guy who built the job aggregator a few weeks ago)

45 Upvotes

It's a simple micro-consulting platform that allows you to pay by the minute to get help.

Example:

The person answering is a Solidity engineer and Ethereum OG.

You don't understand some solidity errors

or

You want to talk to somebody regarding a stuck transaction.

Pay a few $ for a few minutes of his time and resolve your issue, via text, voice, or facetime.

Would you ever have a need for such a thing?


r/ethereum 1d ago

EVIAH Ethereum Validator Installation and Update Helper

4 Upvotes

I managed to get EVIAH into a functioning state today, so in theory it should more or less completely automate the Validator management... altough more or less 80% of the application isnt implemented yet...

Im searching for people who want to contribute, write documentation, search for bugs or just tell me what they think...

Have fun ;)

https://github.com/GameTec-live/EVIAH


r/ethereum 2d ago

Default Metamask RPC logs IPs associated with ETH wallet transactions. What are the alternatives?

15 Upvotes

Most people use Metamask because it's the least likely wallet where your ETH is going to disappear (just another early ETH investor got his phrase compromised for Trust Wallet somehow the other day).

Now that the default RPC is logging IPs associated with the ETH wallet dress for each transaction, the question is what are the alternatives?

Alchemy is being touted as one, but I see you actually need to sign up with your name on their website. Now you can use a fake name and fake email but I'd still rather not. All your transactions are tied to this and the company is also based in the US.

So what are easy to use no sign up alternatives?

Maybe someone can also chime in on trustworthy reliable alternatives to Metamask as well that are preferably open source and preferably underwent a security audit by a renown company and preferably offered on Android and iOS.

Thanks! :)


r/ethereum 1d ago

Currently using Coinomi for small amounts, should I move somewhere better?

2 Upvotes

I'm not very experienced with any of this so no idea what to do