[HN Gopher] Ethereum on Amazon Managed Blockchain
___________________________________________________________________
Ethereum on Amazon Managed Blockchain
Author : bpierre
Score : 47 points
Date : 2021-03-03 21:11 UTC (1 hours ago)
(HTM) web link (aws.amazon.com)
(TXT) w3m dump (aws.amazon.com)
| plattyp wrote:
| Hopefully IBM can offer consulting service for implementing apps
| built on top of this
| faeyanpiraat wrote:
| Well, ETH prices didn't seem to react to this noticeably.
|
| Do you guys know what are some events that reliably move the
| needle?
| 1996 wrote:
| Currently, ETH is in big trouble: delay on the POS (I don't
| think it'll be ready before 2022), new binary compatible chains
| that will allow everyone to move on if ETH2 fails.
|
| Also the ETH futures recently introduced will initially push
| the price down, like they did for BTC.
| DennisP wrote:
| Just to clarify that a bit, PoS is running in production
| right now with 100K validators and $5 billion staked, with
| four independent client implementations. But for now it's
| running in parallel with the old chain, which might not merge
| in until next year.
|
| In the meantime, lots of layer-2 stuff is getting rolled out
| this year.
| sputknick wrote:
| Just did some quick back of the envelope calculations on profit
| from staking using this. At current price/rewards it would be
| just breakeven. Probably better suited to some corporate use case
| where you are more interested in avoiding fees rather than trying
| to make money from staking.
| 1996 wrote:
| This is going to be big - blockchain and smart contracts as a
| service, that's the new "mobile apps"
| throw03172019 wrote:
| Expensive though. Remember when consumers were tough on
| spending $0.99 for an app? Imagine them seeing $100 gas fees.
| 1996 wrote:
| Many chains are compatible with ETH.
|
| Check AVAX if you are worried about gas fees (BTW I don't
| have any AVAX, it's just one of the many possibilities)
|
| https://docs.avax.network/build/tutorials/smart-
| contracts/de...
| [deleted]
| SahAssar wrote:
| Why? What actual problem does it solve for the average user?
| rfd4sgmk8u wrote:
| So now the ETH2 folks will have to coordinate with Amazon in
| getting that managed service migrated to PoS? How do we know that
| this wont be like ElasticSearch, in that Amazon runs its own
| custom ETH1 chain for its customers forever?
|
| Another reason to doubt that ETH2 is actually going to be a thing
| sometime before the heat death of the universe.
| wmf wrote:
| Why would AWS have more clout than the whole rest of the
| Ethereum ecosystem?
| rfd4sgmk8u wrote:
| They dont, however, they may end up becoming their own
| ethereum ecosystem.
| WJW wrote:
| AWS probably has more money than the rest of the Ethereum
| ecosystem? Anyway, even if they turn out not to have more
| clout it could still end up as an ecosystem split where some
| will migrate to ETH2 and some will stay on the AWS managed
| ETH1 version.
| wmf wrote:
| "Amazon Managed Blockchain ... automates Ethereum software
| upgrades"
| thinkingkong wrote:
| I went to try out a friends dapp based lottery pool. To transfer
| 500$ into the pool I had to convert my tokens then pay around
| 150$ in gas fees to get it in there, then another 150$ to get it
| out. So, while Im a believer in distributed systems, we got some
| work to do.
| pjc50 wrote:
| You're right, those fees aren't transferring nearly enough
| money to early adopters. It could probably be made to emit more
| CO2 along the way too.
| X6S1x6Okd1st wrote:
| Yeah gas fees are insane, more and more stuff need to happen on
| L2. and ETH2 can't come fast enough.
| chrisco255 wrote:
| Optimistic rollups in the short-term, but I'm very hopeful
| for EVM zkRollups in the next 6 months:
| https://zksync.io/faq/intro.html
| vmception wrote:
| My favorite thing with L2 is how you can call almost anything
| an L2 and people believe it. You can just tell them to use an
| independent proof of stake network with permissionless
| validators like Polygon (formerly Matic), and everyone
| believes this is the "trustless growing L2" while Binance
| Smart Chain - which is also an independent proof of stake
| network with permissionless validators - is the "centralized"
| one.
|
| Polygon has a separate Plasma network which is not what
| anybody uses for all their smart contract redeployments.
|
| The gulf of knowledge just gets wider and wider, and more and
| more profitable.
| jereees wrote:
| Perhaps they could use https://cheapeth.org/
| vmception wrote:
| will I be cancelled or praised in India if I launch
| pajeeth? feel like it could go either way
| 1996 wrote:
| Oh you mean the one where the author did a huge premine for
| himself and bans anyone who dares mention that?
| forgotmysn wrote:
| genius move from amazon. correct me if im wrong, this looks like
| a blockchain backend as a service?
| pantelisk wrote:
| But why are we celebrating centralization of systems that have
| "decentralization" as their biggest selling point?
| aeturnum wrote:
| How is one more vendor offering to run a blockchain vm
| centralization? It's just a hosting service.
| chrisco255 wrote:
| I'm not sure we're celebrating it. It's something to be
| noted. Some applications might find it useful, for running
| data analysis on the blockchain, but I don't foresee a
| majority of ETH validators running on this service. Best to
| avoid Amazon in general given their propensity for
| censorship.
| pjc50 wrote:
| It makes the numbers go up!
| forgotmysn wrote:
| amazon getting into crypto adds a ton of credibility from an
| outsider's perspective. even if you're not a fan of amazon,
| this should have a positive impact on crypto as a whole.
| Off wrote:
| I'm not sure about this. It is optimistic to see big actors
| getting into Ethereum but i don't think we should be happy about
| it. A "centralized" decentralized network running on Amazon
| servers? Are we learning from the past or are we repeating the
| same mistakes again?
| cs702 wrote:
| I think it's a positive. If large institutions replace chunks
| of their legacy financial infrastructure with decentralized,
| lower-cost infrastructure running over large, distributed
| blockchains (Bitcoin, Ethereum), we would all be better off.
| DennisP wrote:
| This isn't about running Ethereum on Amazon servers. They're
| not talking about mining or staking.
|
| This is about making it easy to connect corporate networks to
| the public Ethereum chain. It's a full node, so it's talking
| directly to the p2p network instead of sending your
| transactions through some third-party provider like Infura, but
| it's not producing blocks.
| ruined wrote:
| given amazon's historical strategy of attack against open source
| platforms and resulting trail of dead, this does not bode well
| for eth. i still expect the price to jump in anticipation
| SahAssar wrote:
| Not saying amazon's way of interacting with OSS has been great,
| but which ones have actually died?
| cyphertruck wrote:
| Instead of reading this press release, please read this seminal
| article from 2001 rebutting it:
| https://nakamotoinstitute.org/trusted-third-parties/
|
| "Amazon managed blockchain" is an amazing phrase. All three words
| are wrong. "Blockchain" is a distributed technology created
| specifically for censorship resistance. A "managed blockchain"
| should just be replaced with a database. Databases are faster &
| cheaper.
|
| Meanwhile, Amazon is a company that just censored Dr. Suess!
|
| And that's not even addressing the issues with ethereum.
| vmception wrote:
| The publisher censored Dr. Seuss by ceasing to publish it.
|
| Bad habit to conflate one company's own choice as a statement
| on society and actual consensus.
|
| The only way you would have done that is by having a social
| circle that manipulates your feelings about "cancel culture".
| You should clear your cookies if you are that easy of a mark.
| eat_veggies wrote:
| I agree with most of this comment, and how "Amazon Managed
| Blockchain" is ridiculous. But it's not censorship, and it's
| certainly not Amazon doing the censorship, when Dr. Seuss's own
| estate decides not to publish six of his books.
| Griffinsauce wrote:
| You might want to get basic facts right if you're going to
| spend this much energy being angry about something.
| DennisP wrote:
| Or do read the press release, and see that this is not a
| managed blockchain. It's a full node that connects to the
| public Ethereum network to send transactions, but it doesn't
| produce blocks.
|
| I.e. it's an easy way to connect your corporate IT to Ethereum,
| without having to keep up with software updates or send
| transactions through some third-party API.
| vasco wrote:
| If you run your own hardware you also have to trust that it
| wasn't compromised by the vendor. At some point you just have
| to decide which level of trust to give each vendors and for
| some people, trusting that Amazon will operate their clusters
| without invading their privacy or accessing their data is a
| pretty good bet. If found out, it'd be the end of AWS's
| reputation.
___________________________________________________________________
(page generated 2021-03-03 23:00 UTC)