Even if rakes did not exist, they'd find one to stand on.
Posted Nov 20, 2023, 2:46 AM UTC
606
He’s such a POS
12
I think that Zuck would be thrilled to know there is a group of people who still think the Metaverse is going to be a thing.
9
So... "Loopring" does 24000 transactions per second, allegedly, and Ethereum does maybe 15 transactions a second.
It looks to me, almost none of those transaction will eventually be written back to the Ethereum blockchain, but are stored somewhere else.
6
the idea of these L2 rollup chains is that they condense a bunch of transactions on the secondary chain and write them all as a single TX to the main chain later.
the tradeoff is that the secondary chain is less secure (see fig. 1 above lol), more centralized, and can obfuscate or potentially resequence transactions. they also typically have inherent limitations in scope compared to the base chain.
in other words, bad tech to paper over flaws in other bad tech with predictably bad results. that's crypto, baby!
7
Don't think of Loopring as being "hacked," instead consider the vulnerability to be one of those "side roads" to help ease congestion. Bullish, winning so hard, and so on!
Although after that first token quasi-pump and dump (unless I'm thinking of Immutable?) I'd be surprised if there's anything even left of Loopring for GameStop to take advantage of now.
Yes, recall one of them pumping and dumping about the time of the Revolutionary GS NFT Marketplace when GS themselves hilariously rugged the apes by selling it all, but which one evades me for the minute -- there's just so much detritus gone under the bridge since.