1/ Syncing ETH node. So hard they say.

I did it in 24 hours. Running it costs me around 50 EUR/month.

No API limitations. No unplanned downtime. No counterparty risk with the SaaS company.

A thread.

👇👇👇
2/ Your options to run a self-hosted node are

@go_ethereum, one of the original Ethereum nodes

Turbo-Geth from @realLedgerwatch and others

Parity (but their org is more focus on Polkatdot nowadays so not a long term bet)
3/ Go Ethereum works well for a single app use case.

Turbo Geth is needed if you have massive API request requirements. E.g. if you are a wallet or really popular dApp.
4/ You can get a physical server from @Hetzner_Online very cheaply with 1 TB of storage, a price range of 50 EUR.

Equivalent Amazon t2.2xlarge is $267/month, not including storage.
5/ Of course, the difference is that your Hetzner server is not on the same control plane as your AWS/GCP/Azure you cannot easily redeploy it. It is a manual process.
6/ But I do not expect that I need to touch my go-ethereum.

It just runs. It is one of the most stable software I have run. Very boring devops wise.
7/ After you get go-ethereum running and you have a JSON-RPC API URL and you are done. No maintenance.

It would be the same getting JSON-RPC URL from Infura. They are interchangeable.
8/ One thing is that Go-ethereum does not natively support JSON-RPC HTTP endpoint authentication.

A cheap trick to get authentication is to exploit --http.vhosts and setting a server name that is not in a public DNS. Then set this in /etc/hosts file.
9/ A the real way to authenticate on your JSON-RPC node is Nginx.

nginx.com/resources/wiki…

And I am pretty sure there has to be docker-compose file that does all this for you.
10/ Funnily enough, Geth only servers public data, which an adversary could get from the Ethereum mempool any way, so there is no need to bother with HTTPS.
11/ Only times I need to poke the server is when there was is a hard fork. Which is like once a year.

But in the case of a hard fork I would need to touch my cloud-hosted managed instance as well.
12/ So how long it took to sync?

"I cannot sync my Ethereum nodes it has been weeks"

👇👇👇
13/ Less than 24 hours.

I know @go_ethereum team has optimised the sync a lot. But still, it was fast and less than I expected from seeing all the complainers in Crypto Twitter.
14/ After the sync, geth is generating state snapshot for others node to sync and this process may take some days.

But waiting the snapshot to be ready is not necessary for the node to operate.

More information about snapshots: blog.ethereum.org/2020/07/17/ask…
15/ If I need to complain about something in @go_ethereum it is that the console output is not very clear if the node is synced or not. There no estimate when the sync is complete in hours/minutes.

Or at least I did not spot one.
17/ Disk usage space?

300 GB.

(That includes some other stuff on the server, like Prysm and ETH2 chain)
18/ That being said if you want to have an Ethereum API as a service (EaaS) my recommendations are that you get it from @POKTnetwork (more or less decentralised) or @QuikNode
/ FIN

TL;DR If you feel #Ethereum node vendor pricing is high and you are constantly hitting API limits, it is not that hard to do it yourself.

Now time to get some exercise.

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More from @moo9000

10 Mar
1/ The chances of having your cryptocurrency wallet hacked as an analogue of catching a sexually transmitted disease (STD)

From the worst to the safest

👇🍆👇🍆👇🍆
2/ Having a centralised exchange account with email and password, no two-factor. Not using password manager, reusing the password across websites

=

Having an orgy on a student party boat and being so drunk that you do not remember what happened, with whom or what

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3/ Running MetaMask or Electrum on Windows laptop

=

Randomly shagging a random person in the restroom of a bar in the questionable part of the town

🍆🍆🍆
Read 8 tweets
28 Jan
1/ ERC-20 token standard approve() has caused an unnecessary cost of $53.8M for #Ethereum and #DeFi users

This is bad. Continue reading why and how to avoid this in the future.

👇👇👇
2/ Before you go all rage on the flaws of my analysis, please read the whole Twitter thread for disclaimers and caveats.
3/ approve() is an unnecessary step of ERC-20 tokens when they interact with smart contracts.

You know this because when you do a Uniswap trade you need press two transaction buttons instead of one.
Read 20 tweets
27 Jan
1/ Welcome to #DeFi Wednesday.

Let's talk about how interest-bearing cash on a blockchain is going to revolutionise boring corporate treasury management that concerns every company is is a larger business than all crypto trading in the world.

Enter the thread

👇👇👇
2/ Blockchain community is often seen as toxic maxis and redditors who shill other their weekly favourite shitcoin in the hope of getting Lambo.

Sometimes we also do things that progress humanity towards the better future and interest-bearing cash is one of those things.
3/ Less chad and more things that actually matter:

My incomplete theory of interest-bearing cash is also available also as a blog post:

capitalgram.com/posts/interest…

It is 15 pages. Pick your slow poison or die fast by continue reading here.
Read 58 tweets
15 Dec 20
1/ Here is my totally unscientific poll - what would happen to #Bitcoin if the US potentially starts to break up now when Trump, Proud Boys, Texas and others do not accept the election result?
2/ Bitcoin strives in chaos and anarchy. Having the US fall into chaos and anarchy would both weaken the dollar and strengthen the #bitcoin
3/ Thus, I suggest for all my friends on Twitter that they start to retweet Donald and associate themselves with any of these groups that seek to secend. Let's make some mayhem.
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14 Dec 20
This is why a dedicated laptop is better than a hardware wallet for #ethereum operations security.

The laptop does not need to be airgapped, it is enough you do not use it for other activities and do not install any software in it.
Hardware wallets do not usualy have a way to show enough human-readable metadata to allow to identify if the transaction is good.

- Verified token name on Etherscan
- If you have transacted with this address before
- The amount of tokens to be transferred
Hardware wallets are good for "dumb" coins like #Bitcoin, but their user experience, and thus the real security including human mistakes, is not in fact that good. It is impossible to verify from a hex dump WTF you are signing.
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27 Oct 20
1/ In the series of "Let's explore #Ethereum killers Tuesday" we have NEAR blockchain or @NEARProtocol in Twitter

If you are a smart contract dev or blockchain investor you will find this thread interesting.

👇👇👇
2/ I participated in an online hackathon sponsored by NEAR: "Hack the rainbow".

This was around NEAR's Rainbow bridge product that allows tokens to move forth and back between NEAR and Ethereum blockchains.

gitcoin.co/hackathon/hack…
3/ The good

👇👇👇

NEAR project started back in 2018 as "decentralised platform", aim to be the developer-friendly blockchain solution. However, it was not until 2019 when the project evolved a full blockchain and things became more interesting.
Read 49 tweets

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