Topic: [ANN] Ethereum: Welcome to the Beginning - page 66. (Read 2006997 times)

yeah fucking right.  broken ETH scale/merge with one of hte biggest fraud fucking shitcoins like bsv out there hahahahaha, no way

Ah, my bad I didn't know FLOW was from dapper labs too but you gotta agree because of the scalability issue and high transaction cost many developers are considering either moving to a different chain or building their own.

In this particular case, though, they are building it on Flow, which is their own blockchain.  So it is not really a sign of "independent" developers switching to a competing system.

Competition already started getting part of the ethereum community. Just a couple of weeks back, I saw crypto kitties developer created a new game called NBA topshot but this time, they didn't use ethereum they used some other blockchain.

Of course, projects cannot be scrapped by ethereum. Projects have their own choice and they will do everything to continue the project.
I don't have any opinion on DAPP on ethereum because Vitalik's point is to build a foundation for the community. He did not foresee so many developers building on Ethereum and as we have seen they are planning to improve Ethereum.

we just need to reach phase 1 of ETH2.0 before competition get a part of community, due to high fees
nevertheless, i do not think that DeFi will be out, since there is a lot of value, that can sustain these high fees, but gaming will be out from Ethereum network, if the fees stay this high, and NFT will find more suitable places as well, since the value locked in these token are considerably lower than in DeFi

This morning I saw a tweet from Vitalik about the ethereum network's upgrade to 25000-100,000 TPS.
https://twitter.com/VitalikButerin/status/1312905882330521600
How can they do that when the ethereum network is on?
Now that they're stagnant, they'll probably rewrite the entire code. They will then migrate each of the other projects' DAPPs to the new platform.
I wonder if they can ditch the auction mechanism after removing POW completely?

Without testing, it will be impossible to say whether the codes has any bugs or not. This Zinken testnet which is coming on 12 OCT could help us figure out whether ETH 2.0 will be delayed or be on time.

How will they learn about bugs if they don't run the testnet?

Nothing positive or good news seems to coming out of the Ethereum developer team at all. When will theyy realise it is better for them to take things slowly and release the testnet after ALL bugs have been ironed out instead of them playing roulette with investors?

Venezuela has launched a “decentralized” national stock exchange built atop the Ethereum blockchain. The new BDVE exchange is built to enable Venezuelan investors to trade stocks, bonds and real estate in digital form. They will be using the ERC-223 and ERC-721 token standards.

https://www.coindesk.com/venezuela-rolls-out-ethereum-based-stock-exchange-to-help-skirt-us-sanctions

It is disadvantage of PoS/ masternode coins in 2018 and 2019, and this year the farm/ yield/ DeFi tokens. Lock your tokens into a pool and get distributional rewards. I don't join this party because I have a similar thought as yours, in the locktime, I can not control what will happen with price on the market.

If I have big interest and belief in one coin or token, I will buy it, hold it or trade it to increase total amount in my portfolio and wait for good price to make exit. I see big risks to lock and get passive rewards and uncontrollable price changes.

The problem with the security of ETH 2.0 is very serious and it seems nobody from the devs team can really predict all vectors of hacker attacks. As some noted in a twitter post (currently not available) mentioned above in this thread, ETH 2.0 looks like DAO 2.0. Smart contracts on a new chain with only several thousand nodes, really? What about 51% attacks or even DDOS attacks? Back in 2016 the DAO attack was followed by massive DDOS attacks bringing the price down to $6. Currently eth security is given by 250 Th/s, which is equivalent to more than 8 mil gpus with average hashrate 30 Mh/s. It is practically impossible to make a 51% attack. On the other hand, the 3-5 Th/s of ETC blockchain are not enough and there have been multiple 51% attacks recently.

So there is absolutely no advantage in the transition from POW to POS from security point of view. Scalability and fees - yes, but at what price? If there is even one failure of the ETH 2.0 blockchain, the market will react and become bearish. Then who would like to lock 32 eth for 2-4% profit in terms of eth, when the price loss in BTC and $ would be much bigger? This is what happened to every other coin and why the devs think they will change that to be the first successful POS coin? And all that with a rush to keep some deadlines without thinking of all possible vectors of attack? I don't get it.

I totally aagree with the above comment , Eth is in a very critical condition right now , and the Devs know that they are in a very tight corner and should be very careful not to take any wrong step as wether Eth lives or dies seems its in thier hands right now

I have my thoughts like developers want to wait for network better condition because they don't want to gamble that their upgrades will instantly improve the network operations and reduce transaction fees for users. If they release the upgrades but fail to create instant effects as many people are expecting to see, ETH will get a serious failure and it is obviously not good, not the one Vitalik want to see.

Vitalik does not want to jump into hub of a storm and say "I am fine and the upgrade will help you all fine too". 

I believe that developers have long needed to launch Ethereum 2.0.
A Russian proverb says: "If you suffer for a long time, something will work out"
I am sure that in the next 1-3 months the developers will launch Ethereum 2.0, but this is not certain

^the main problem here is the number of validators
There is a lack of validators being ready to swap their 32 ETH to 32 ETH2.0 and lock them for tests for an uncertain period of time

If everything goes right this time, then will be the last testnet version before the launch of the mainnet, right? Seeing that they are meeting participation issues, do you think we are still on track for the mainnet release?

@ Piston

What do you think about the rumours of the new testnet launch? Is going to collapse like the previous attempt or will they actually make progress this time?

https://decrypt.co/43318/failure-to-launch-devs-need-another-trial-run-for-ethereum-2-0

"Failure to Launch: Devs Need Another Trial Run for Ethereum 2.0
The Spadina testnet, meant to focus on genesis block creation, suffered from low participation, partly due to technical issues.
The Spadina testnet focuses on genesis for Ethereum 2.0.
A lack of user participation combined with technical issues and user confusion meant the testnet didn't start as hoped.
Developers will run another trial, Zinken, next week."

Now 3 test nets(Topaz,Medalla,Spadina ) will have 1 more (Zinken)