1/ Some thoughts about the outages/congestion everyone is experiencing today:
What's nice about blockchain is that even when transactions become very expensive, it still works. This is so important to remember. From a technological standpoint, the engine remains running.
What's nice about blockchain is that even when transactions become very expensive, it still works. This is so important to remember. From a technological standpoint, the engine remains running.
2/ Of course, we'd rather have every system built to work optimally in all conditions, but in reality, you can't expect @coinbase infrastructure to function smoothly for loads 1000x above normal.
3/ Overbuilding can waste money and resources, and currently, there is no such dynamic system that can expand computing capacity so fast. Reallocating resources takes time.
4/ The key thing to understand here is that while some systems shut down, blockchains keep going (even if they get expensive). You can still make @uniswap transactions, even if you must pay dearly to do so. The underlying tech continues to function.
5/ Compare this to the challenges of managing network infrastructure — these systems need to perform best when network conditions are at their worst. Otherwise, there's huge potential for sudden outages that makes fixing it even harder.
6/ If we can get all infrastructure managed through blockchain, everything can stay online — you just might need to pay for priority in a congested compute network.
7/ We shouldn't put up with outages/congestion/high fees. But we should appreciate how a core advantage of blockchain (decentralized resiliency) continues to deliver in all conditions and build from there, identifying more areas (like the Internet itself) that can benefit.
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