Scaling Ethereum on-chain with Commitment Hashes and 0% transaction fees

[enamakel]

Hey guys,

so here I propose a new way of scaling ethereum transactions and I think it's an interesting concept that the rest of the community can take lessons from.

https://enamakel.com/scaling-ethereum-on-chain-with-commitment-hashes-and-0-transaction-fees-8ceb4f3be46

[marados]

Mostly my investments are in projects that I do believe in long term. I don’t really like those hype scheme projects that got no real use product and are already shilling their coin or token. I do like more the opposite approach where team is working hard developing product and then when the time is right and product is finished  they start with marketing. That’s why I’m believing long term in projects I invested in.

[enamakel]

Mostly my investments are in projects that I do believe in long term. I don’t really like those hype scheme projects that got no real use product and are already shilling their coin or token. I do like more the opposite approach where team is working hard developing product and then when the time is right and product is finished  they start with marketing. That’s why I’m believing long term in projects I invested in.

This is not another hype coin that I'm shilling here; It's a new way of creating applications on the ethereum blockchain that I'm proposing; Essentially the coin mentioned in the blog post is just an example to explain the concept.

[sulis sudibyo]

Hey guys,

so here I propose a new way of scaling ethereum transactions and I think it's an interesting concept that the rest of the community can take lessons from.

https://enamakel.com/scaling-ethereum-on-chain-with-commitment-hashes-and-0-transaction-fees-8ceb4f3be46

0% transaction fee? not bad, maybe this could be one way to get ethereum out of this slump. but is it free of charge for the free network?

[butka]

Are these commitment hashes similar to what transactions are in the Lightning network? There are no fees (or very low fees as in the LN) until someone decides to make a transaction on the main blockchain. Then the main blockchain can be used for settlement in case someone decides to exit with their coins.

[ricatop]

Yes, of course, this is very interesting, but you yourself understand that in the bear market no one will support your idea

[enamakel]

Hey guys,

so here I propose a new way of scaling ethereum transactions and I think it's an interesting concept that the rest of the community can take lessons from.

https://enamakel.com/scaling-ethereum-on-chain-with-commitment-hashes-and-0-transaction-fees-8ceb4f3be46

0% transaction fee? not bad, maybe this could be one way to get ethereum out of this slump. but is it free of charge for the free network?

it is completely free of charge because all you're doing is holding IoUs to claim something in the future. When you do want to claim your IoUs, thats when you pay up in ether.

[enamakel]

Yes, of course, this is very interesting, but you yourself understand that in the bear market no one will support your idea

the bear market is one thing; but support for the platform and helping it scale is another; i'm not looking for support for my idea to do an ICO or get funding. I'm just letting people know that this is a way of scaling ethereum up.

[tsaroz]

This can in a way be successful in a heavily transacted ethereum only dapps. Dapps are one of the major reason for network congestion and if this could be implemented atleast in ethereum only dapps, a Ethereum platform exchange is a good example as well as cryptokittes and their friends would be living peacefully and happily. Whie we would still be using traditional network for other uses.

[enamakel]

This can in a way be successful in a heavily transacted ethereum only dapps. Dapps are one of the major reason for network congestion and if this could be implemented atleast in ethereum only dapps, a Ethereum platform exchange is a good example as well as cryptokittes and their friends would be living peacefully and happily. Whie we would still be using traditional network for other uses.

yes; also think about dividend tokens which is a lot more interesting. right now if you wanted to pay out dividends to all your token holders, you'll immediately run out of gas or pay huge amounts in transaction fees if you have a lot of token holders. but with this system; all you have to do is give away IoUs which can then later on be claimed by paying for the transactions fees.