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100 sats \ 9 replies \ @energycurrency 20 Aug 2023 \ on: I was a well-paid blockchain / web3 dev for years, but became disillusioned. bitcoin
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No, but I have now— thanks for the links.
RGB looks like a bust. I was interested to find the technical details but there aren't any (just empty pages in the docs). Their idea also sounds strange, they call them "smart contracts" but they're not executed in any distributed way. They're just scripts that make a call to some given blockchain. I don't see the point. And it doesn't seem like the RGB devs understand it either, given what they wrote under "What is RGB" on reddit:
When someone asked "It's not a sidechain right?"
"That's right, it's not a sidechain, it's a DAG".
Aha.. RGB is .. a graph. this explains everything.. then they write
I'm not sure that either of these examples are close to explaining how RGB works tbh. It's a completely new paradigm.
No I don't put much stock in this project.
As for DLCs: Bit more interesting I guess. I'm wary though, because all they're doing is regular multisigs plus external oracles, but with a name like Discreeete Log Contraaact its like they're marketing it as some form of incredible mathematical discovery that enables smart contracts in a totally new way! When in reality they're using oracles, which is less cool sounding to me.
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You misunderstood me— i didn't mean "there's no point because execution isn't on-chain", I was saying that it's silly to call something a smart contract when you're talking about a script that is independent and external to any crypto currency.
The entire problem I'm having here is that RGB doesn't specify anything real about their project. The core parts of their technical docs are just blank. I was very intrigued by their pitch so this disappointed me! I'm not trying to be semantically pedantic about the smart contract thing—I literally don't get what they're doing because they don't say it.
The thing you just linked I also don't see the point of. For real, he just says the most obvious statement in the world ("ethereum is dumb becozz all computation has to be run on every node, thats inefficient!!", mind blowing commentary), but ironically he writes 6 paragraphs just repeating that same point without any further commentary. Pretty funny!
Let me know when RGB can say how their system is gonna work, I'm always interested in new ideas. Just tired of sloppy pipedream crypto.
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I'm only interested in the technology. Sorry if I seem cynical about this, but there's just so much incentive for people in this space to use crypto-jargon babble to try to appear innovative. So when I see RGB writing about
a novel “post-blockchain” smart contract system, using the concept of client-side-validation ... exceeding abilities of all existing blockchain-based smart contracts while not compromising on security or decentralization ... uses specially-designed functional registry-based RISC virtual machine ...
then it's clear to me that I'm being sold something. Their "blackpaper" is dense with this jargon without ever describing the details of what is so new about their project. They claim that their tech enables smart contracts that don't need to process all current transactions while still being able to prevent double spending. But the details of how are just left to the imagination. I really might be just to stupid to get it, sure. But you know, if it looks like a duck, and sounds like a duck...
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Interesting reading, that thread.
Bram Cohen is brilliant, I was one of the first alpha testers on bittorrent when he released it with an announcement on the SomethingAwful forums way way long ago, interesting to see what he's been working on the last little while (Chia).
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