The Daily Gwei - A Rude Awakening - The Daily Gwei #451
Today, Infura began blocking user transactions that originated from certain regions due to what they are calling a “misconfiguration error” (which has now been resolved). For those of you who don’t know, Infura is a centralized infrastructure provider that people can use to relay their Ethereum transactions and Infura is the default ‘RPC’ for MetaMask. This means that Infura sees massive usage even though 99% of users are totally unaware that they are using it - but many had a rude awakening about all of this after the events of the last 24 hours. No, Ethereum the protocol is not centralized because Infura the centralized infrastructure provider decided to block certain countries from its service.
Run your own node, use alternative RPCs like Alchemy, use a non-MetaMask wallet or work to help make light clients a reality. I want to stress something extremely important here - centralized infrastructure providers like Infura are not the Ethereum network itself and these providers exercising their centralized controls does not make Ethereum centralized. The Ethereum network is run on thousands of full nodes around the world with a decentralized set of miners producing blocks for the network. Not to mention all the other ways Ethereum is decentralized - from its core development process to its community - taking down something like Infura would not effect the Ethereum protocol itself. Now, in saying all of that, obviously if Infura was to go offline it would have a rather large impact on the wider ecosystem due to just how much it is used. The thing is that we’ve actually seen this before in November of 2020 and I wrote about that incident here and how it actually showed exactly what I’m talking about with how Infura going offline doesn’t mean the Ethereum network goes offline. On top of this, MetaMask also can’t block users from its app since it is client-side software - any blocking that happens will always be due to the RPC that a MetaMask client is utilizing. Obviously all of this points to the fact that we need to start using alternatives to Infura (especially decentralized ones). Within MetaMask, users can easily change their RPC if they want to but even the ability to do this is mostly unknown and may seem scary to newer users - which is totally fine - though I hope that wallets at least begin randomizing which RPCs they use instead of just defaulting to a single centralized one. There’s also the option of using your own full node as your RPC endpoint but again, this is rather complex and most users will never do it - hopefully we can have a robust light client ecosystem in Ethereum eventually! As the adoption of crypto progresses, we’re going to continue to see more of these centralized services being forced to comply with things like sanctions. The solution? Start using the decentralized alternatives today and support them in any way that you can. There’s no practical point to this entire industry if we just simply have a bunch of centralized services sitting on top of a decentralized blockchain - it’s not the vision for what we all want this industry to be. Have a great weekend everyone, Enjoyed today’s piece? I send out a fresh one every week day - be sure to subscribe to receive it in your inbox! Join the Daily Gwei EcosystemAll information presented above is for educational purposes only and should not be taken as investment advice. If you liked this post from The Daily Gwei, why not share it? |
Older messages
A Clash of Cultures - The Daily Gwei #450
Thursday, March 3, 2022
It's probably not the right time to bring crypto culture to the real world.
Digitally Native - The Daily Gwei #449
Wednesday, March 2, 2022
Leaving the physical world behind.
Privacy Please - The Daily Gwei #448
Tuesday, March 1, 2022
Can we get a little privacy up in here?
Excessive Behavior - The Daily Gwei #447
Monday, February 28, 2022
The excess greed of this industry never ceases to amaze me.
A Beacon of Hope - The Daily Gwei #446
Friday, February 25, 2022
Admiring the magic that is the Beacon Chain.
You Might Also Like
CryptoQuant CEO says US could feasibly cut debt by embracing strategic Bitcoin reserve
Thursday, December 26, 2024
Analysts see US Bitcoin reserve as symbolic step toward debt reduction, amid challenges and speculation. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Shen Yu's "Four Wallets" Strategy: A Guide to Crypto Investment Management
Thursday, December 26, 2024
This content summarizes an AMA hosted by E2M Research on Twitter Spaces, featuring Shen Yu (Twitter @bitfish1), Odyssey (Twitter @OdysseyETH), Zhen Dong (Twitter @zhendong2020), and Peicai Li (Twitter
Reminder: Bitcoin Hits A New ATH Once Again After Touching $108K
Thursday, December 26, 2024
Monday Dec 23, 2024 Sign Up Your Weekly Update On All Things Crypto TL;DR In this issue, we dive into: Bitcoin Hits A New ATH Once Again After Touching $108K Avery Ching To Become New Aptos Labs CEO As
Bitcoin sees brief rebound to $99,000 on Christmas day
Wednesday, December 25, 2024
Holiday excitement lifted Bitcoin past $99000, but it quickly corrected to $98000 where it still holds strong support. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Opinion: Market Panic After FOMC Shows Some Overreaction
Wednesday, December 25, 2024
Last night, the market experienced a significant pullback, primarily due to investor concerns over the Federal Reserve possibly shifting towards a more “hawkish” policy stance. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Trump’s pro-crypto pledge could see day-one executive orders, industry players hope
Tuesday, December 24, 2024
A Bitcoin strategic reserve, access to banking services, and the creation of a crypto council are among the items on the industry's 'wishlist.' ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
State of the Network’s 2024 Year in Review
Tuesday, December 24, 2024
A data-driven overview of events that shaped crypto in 2024 ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
OKExChain: Will the Federal Reserve and Jerome Powell Prevent the U.S. from Creating a National Bitcoin Reserve?
Tuesday, December 24, 2024
In the early hours of today, Federal Reserve Chairman Jerome Powell made it clear during a press conference following the monetary policy meeting that the Fed has no intention of participating in any
Crypto community cheers as Trump names pro-crypto advisors Stephen Miran and Bo Hines for economic and digital ass…
Monday, December 23, 2024
Trump fosters economic expansion and digital innovation with Miran and Hines at the helm of economic and crypto councils. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
📈 BTC-to-Gold ratio hit a historical peak on 17 Dec; Crypto.com renewed its partnership with Formula 1 until 2030
Monday, December 23, 2024
BTC-to-Gold ratio hit a historical peak on 17 Dec; Crypto.com renewed its partnership with Formula 1 until 2030; Crypto.com and the Philadelphia 76ers unveiled Web3 mobile game 'Spectrum Sprint