BREAKING! ETH 2.0 is no more!!! - page 3.

Erdogan

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Quote from: wheelz1200 on January 30, 2022, 10:38:09 PM

Quote from: cheezcarls on January 27, 2022, 07:35:34 AM

It looks like our hopes for ETH 2.0 is no more! They’re gonna rebrand it instead as consensus layer.

Source: https://decrypt.co/91149/ethereum-foundation-kills-eth-2-consensus-layer-rebrand

What’s your opinion about this guys? You think this is a good decision by Vitalik Buterin? I know that there will be mixed opinions about this decision, so I wanna hear it from you guys. Thanks!

Not surprising honestly. All these gimmicks are just chess moves to try to stay relevent but in the grand scheme of things it's all pointless moves. Problem that eth has now is what happens if nfts and token releases don't gain any traction in a blue bear market. The next 1-2 years will be very telling for eth as far as where they will be positioned in the top tier of coins.

When it comes to renaming from ETH 2.0 to the consensus layer, it could actually just be a little chess move. However, when it comes to switching from PoS to PoW, it is a very big step forward. Once everything is in place, all other blockchains will be two years behind Ethereum. Of course, only if this change eliminates the problem of high transaction fees.

MFahad

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They will definitely do some good for high gas fee. Most of Eth gas fee surf on Opensea and Decentralized exchange. If Solona and fantom are added to opensea,the demand of Eth will reduce.
I surprised to see this News, why they don't care of this. If they fail to control high fee then they will be deprived of high quality project which are now launching on other networks.

wheelz1200

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Quote from: cheezcarls on January 27, 2022, 07:35:34 AM

It looks like our hopes for ETH 2.0 is no more! They’re gonna rebrand it instead as consensus layer.

Source: https://decrypt.co/91149/ethereum-foundation-kills-eth-2-consensus-layer-rebrand

What’s your opinion about this guys? You think this is a good decision by Vitalik Buterin? I know that there will be mixed opinions about this decision, so I wanna hear it from you guys. Thanks!

Not surprising honestly. All these gimmicks are just chess moves to try to stay relevent but in the grand scheme of things it's all pointless moves. Problem that eth has now is what happens if nfts and token releases don't gain any traction in a blue bear market. The next 1-2 years will be very telling for eth as far as where they will be positioned in the top tier of coins.

og kush420

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Quote from: cheezcarls on January 27, 2022, 07:35:34 AM

It looks like our hopes for ETH 2.0 is no more! They’re gonna rebrand it instead as consensus layer.

Source: https://decrypt.co/91149/ethereum-foundation-kills-eth-2-consensus-layer-rebrand

What’s your opinion about this guys? You think this is a good decision by Vitalik Buterin? I know that there will be mixed opinions about this decision, so I wanna hear it from you guys. Thanks!

From what I understand, the main assumptions do not change. First of all, it is about changing from Proof of Work to Proof of Stake and it will be done. As for me, it looks more like a simple rename with cosmetic fixes and nothing else.

zonefloor

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As far as I understand from the article, 2.0 seems to have only been renamed, not cancelled. The reason for this is that it comes with another system and name to remove the staking network and various bottlenecks. I do not think that this change of ETH will harm it, on the contrary, this is news that will make miners happy. But whatever they are doing now, they should do it as soon as possible because we will be in a position to be unable to transact with these network fees. At the slightest news, the system gets clogged and we have to deal with very high transaction fees.

Abiky

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Quote from: cheezcarls on January 27, 2022, 07:35:34 AM

It looks like our hopes for ETH 2.0 is no more! They’re gonna rebrand it instead as consensus layer.

Source: https://decrypt.co/91149/ethereum-foundation-kills-eth-2-consensus-layer-rebrand

What’s your opinion about this guys? You think this is a good decision by Vitalik Buterin? I know that there will be mixed opinions about this decision, so I wanna hear it from you guys. Thanks!

I don't think that is a good decision made by Vitalik and the Foundation itself. It will only bring more confusion to the public. Changing names/brand now when ETH 2.0 was announced for a long time, will make people believe that ETH will not undergo a major upgrade/improvement. I can imagine how big the hype would've been by naming ETH's next upgrade "ETH 2.0" (instead of the "consensus layer").

Now that the name's been changed, we're going to have to see how the market will behave in the long term. Crypto prices are still bearish these days, so if ETH's next upgrade activates this year, there won't be much difference in ETH's price. That's the least reason to worry about, since crypto is all about usability. People are sick and tired of paying high gas fees on the ETH blockchain, so the PoS upgrade is a must. The longer it takes to become a reality, the more ETH will lose ground on the market. What matters is decentralization. As long as ETH is able to stay decentralized even after adopting PoS, there should be nothing to worry about. Just my opinion

Kemarit

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Quote from: cheezcarls on January 27, 2022, 07:35:34 AM

It looks like our hopes for ETH 2.0 is no more! They’re gonna rebrand it instead as consensus layer.

Source: https://decrypt.co/91149/ethereum-foundation-kills-eth-2-consensus-layer-rebrand

What’s your opinion about this guys? You think this is a good decision by Vitalik Buterin? I know that there will be mixed opinions about this decision, so I wanna hear it from you guys. Thanks!

I don't think there will be a big impact, it was just a rebranding. What's important is that they can deliver on time because this is what their critics is singing about the people behind as there have been delays after delays.

So again, if you look closely, there is no change, perhaps just the semantics, but everything is still Vitalik from ground up.

Bttzed03

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It doesn't really change what I think of Ethereum.

Quote from: https://blog.ethereum.org/2022/01/24/the-great-eth2-renaming/

Eth1 → execution layer
   Eth2 → consensus layer
   Execution layer + consensus layer = Ethereum

Let’s explore why.
Tl;dr;

   The terms Eth1 and Eth2 (Ethereum 2.0) are being phased out
   Execution layer (Eth1) and consensus layer (Eth2) are the new terminologies
   The roadmap to scale Ethereum in a decentralized way remains the same
   You don’t need to do anything

What's important to me is they do not change the main reason for the change which is the transition to POS and improvement of network scalability. There will be changes in the approach to switch but this is basically renaming.

GreatArkansas

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Ethereum 2.0 is more likely hype for Ethereum but I believe it is still a thing even there will be more updates we will see like this.
To be honest, Ethereum is already a smart contract platform for me, but there are problems, and here's the Ethereum team or contributors solving those problems such as scalability.
With this Ethereum 2.0, I believe it will still solve the problem of Ethereum, so no need to worry for me.

lobo13hf

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Quote from: cheezcarls on January 27, 2022, 07:35:34 AM

It looks like our hopes for ETH 2.0 is no more! They’re gonna rebrand it instead as consensus layer.

Source: https://decrypt.co/91149/ethereum-foundation-kills-eth-2-consensus-layer-rebrand

What’s your opinion about this guys? You think this is a good decision by Vitalik Buterin? I know that there will be mixed opinions about this decision, so I wanna hear it from you guys. Thanks!

But you may miss this point that i got it from the article.

Quote

Nothing really changes in terms of the roadmap. Staking and sharding to ease network congestion are still on the way,

that means a solution to fix the problem that has been facing by ethereum since a long time ago is still happening and it's still in the progress. It's clearly said that rebrand will be used to avoid the scam. We know that so many scammers are taking the advantage from anything that became massive.

I have no problem with rebrand as long as the technical problem will be totally solved.

kaya11

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Quote from: takngantuk on January 27, 2022, 09:48:46 AM

Quote

"Henceforth, Eth1 will be known as the "execution layer" and Eth2 will be the "consensus layer." Whereas the execution layer is where all the smart contracts and network rules reside, the consensus layer makes sure all the devices contributing to the network are acting in line with the rules—and penalizing those that don't. Together, the two layers will merge into just plain ol' Ethereum after the consensus layer is ready to replace the current mining system."

so that means there is no new network?. this is just network upgrade by making it 2layer? so that means the speculation about ethereum 2.0 is over. ethereum 2.0 will never be released, and our long wait has been in vain.

I was saddened about eth 2.0 because my rig won't be used anymore, I am miner and this news is maybe good for me if I could keep on making good revenues on my rigs. If somehow another layer and more shares to be given to miners the this will be a really good news for small time miners like me.

takngantuk

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Quote

"Henceforth, Eth1 will be known as the "execution layer" and Eth2 will be the "consensus layer." Whereas the execution layer is where all the smart contracts and network rules reside, the consensus layer makes sure all the devices contributing to the network are acting in line with the rules—and penalizing those that don't. Together, the two layers will merge into just plain ol' Ethereum after the consensus layer is ready to replace the current mining system."

so that means there is no new network?. this is just network upgrade by making it 2layer? so that means the speculation about ethereum 2.0 is over. ethereum 2.0 will never be released, and our long wait has been in vain.

Ceyflix-Rez

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Will this stop the PoS upgrade and get the PoW algorithm back in check? I guess not, this doesn't change anything only the name changed to me, high gas fee is the major problem of Ethereum but abandoning PoW algorithm won't do any good

blockman

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I'm not fond of technical jargon about development but upon reading an article about this from fool.com. There's no need to worry for the normies like me, there will be no new token and it's just a rebranding that they've agreed upon. Yes, there's no more ETH 2.0 but there's now the Ethereum consensus layer, CMIIW. But with the said rebranding, it's still aiming to lessen the fees and the upgrade that we needed to see despite somehow the increase in fee is still tolerable, the aim is just to end it or at least reduce it just like before.

masterrex

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Quote from: cheezcarls on January 27, 2022, 07:35:34 AM

It looks like our hopes for ETH 2.0 is no more! They’re gonna rebrand it instead as consensus layer.

Source: https://decrypt.co/91149/ethereum-foundation-kills-eth-2-consensus-layer-rebrand

What’s your opinion about this guys? You think this is a good decision by Vitalik Buterin? I know that there will be mixed opinions about this decision, so I wanna hear it from you guys. Thanks!

IMO, I think it is up to everyone in the community because in myself I believe Ethereum is already great even before! until it was changed when the expensive gas problem has become the center of controversy and problem in the Platform. I don't care about those delayed and blah blah about the Eth. 2.0 development all I care about is sustainable, smooth, and much cheaper transaction fees.

cheezcarls

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It looks like our hopes for ETH 2.0 is no more! They’re gonna rebrand it instead as consensus layer.

Source: https://decrypt.co/91149/ethereum-foundation-kills-eth-2-consensus-layer-rebrand

What’s your opinion about this guys? You think this is a good decision by Vitalik Buterin? I know that there will be mixed opinions about this decision, so I wanna hear it from you guys. Thanks!

Topic: BREAKING! ETH 2.0 is no more!!! - page 3. (Read 359 times)