Eth 2.0 Impact on Eth | Bitcointalksearch.org

velosepur

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Quote from: JeffBrad12 on June 09, 2021, 11:58:16 AM

Quote from: ?? on ??

This is period when ETH developers need to act finnaly and finish plans regarding 2,0. BSC is more and more popular as alternative every week.

I hope so but anything related to the ethereum 2.0 already planned since last year but remembers that the execution needs a lot of process. it's not about to give a minor change to the network but it will be re-structuring the network to migrate into the POS consensus and that will need a lot of time to do that caused by ethereum has become the most popular smartcontract protocol.
It must have passed any audit to make sure there will be no vulnerability that can affect all of the projects built in ethereum.

I fully agree, everything you wrote. But fact is 2.0 have to be in use this year. If they want not o late. I am wrong maybe but bsc is stronger every month.

inoes

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Quote from: velosepur on June 09, 2021, 12:20:39 PM

Quote from: JeffBrad12 on June 09, 2021, 11:58:16 AM

Quote from: ?? on ??

~snip

I hope so but anything related to the ethereum 2.0 already planned since last year but remembers that the execution needs a lot of process. it's not about to give a minor change to the network but it will be re-structuring the network to migrate into the POS consensus and that will need a lot of time to do that caused by ethereum has become the most popular smartcontract protocol.
It must have passed any audit to make sure there will be no vulnerability that can affect all of the projects built in ethereum.

I fully agree, everything you wrote. But fact is 2.0 have to be in use this year. If they want not o late. I am wrong maybe but bsc is stronger every month.

it's true, this year's BSC is like 2017's the ETH, where there are many new projects from legal ones, scams and Rug.
One reason that many BSC projects have sprung up is the issue of gas costs.
Maybe this is also what makes BSC not only being looked at as an alternative to Blockchain, because there have been many other chains with cheap fees such as solana, fanthom, tron and so on. so eth 2.0 is still the same eth but with fixes for various problems, one of which is gas fee

JeffBrad12

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Quote from: ?? on ??

This is period when ETH developers need to act finnaly and finish plans regarding 2,0. BSC is more and more popular as alternative every week.

I hope so but anything related to the ethereum 2.0 already planned since last year but remembers that the execution needs a lot of process. it's not about to give a minor change to the network but it will be re-structuring the network to migrate into the POS consensus and that will need a lot of time to do that caused by ethereum has become the most popular smartcontract protocol.
It must have passed any audit to make sure there will be no vulnerability that can affect all of the projects built in ethereum.

Dollar_Hunter

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Quote from: DU18 on June 09, 2021, 03:49:12 AM

Quote from: Cherylstar86 on June 08, 2021, 06:42:35 PM

Quote from: LibertyShire on May 10, 2021, 10:37:36 PM

Since the launch of Eth 2.0 seems to be earlier, will this news drive the price of Eth 1.0 down ?

Maybe there's a slight advantage that we should look after now, because as I've observed gas fee also saturated and not much expensive compared from previous. This is a great development for ethereum in the first place, so we must expect more positive changes coming.

after ethereum experienced a price increase which was triggered by the many defy projects that occurred on the ethereum network, gas costs on the platform also increased, but now along with the development of ethereum 2.0, gas costs have started to decrease slightly and are almost close to normal costs, As we all know, Ethereum 2.0 was created to increase the speed, efficiency and scalability of the Ethereum network, so that the Ethereum blockchain can process more transactions and reduce congestion on the network.

That's a good thing although the transaction fees are not as cheap as Binance Smart Chain,
but with the cost reduction at least there is hope for the future,
and let's hope that after ethereum 2.0 is released it will make the transaction fees cheap

DU18

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Quote from: Cherylstar86 on June 08, 2021, 06:42:35 PM

Quote from: LibertyShire on May 10, 2021, 10:37:36 PM

Since the launch of Eth 2.0 seems to be earlier, will this news drive the price of Eth 1.0 down ?

Maybe there's a slight advantage that we should look after now, because as I've observed gas fee also saturated and not much expensive compared from previous. This is a great development for ethereum in the first place, so we must expect more positive changes coming.

after ethereum experienced a price increase which was triggered by the many defy projects that occurred on the ethereum network, gas costs on the platform also increased, but now along with the development of ethereum 2.0, gas costs have started to decrease slightly and are almost close to normal costs, As we all know, Ethereum 2.0 was created to increase the speed, efficiency and scalability of the Ethereum network, so that the Ethereum blockchain can process more transactions and reduce congestion on the network.

Kelvinid

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I'm looking forward to seeing a huge impact in regards to its transaction fee and certainly to expect it helps to lower it down. Which is the main concern to all of us. And if this going to happen after the upgrade, and the chances are those people who are currently using BSC might turn back to ETH.

The only we have for now is just optimism, we still not know what really be happening and the sole purpose of this upgrade until such a time that it was done and see its effect. We are waiting for this for about a year and I hope we don't get disappointed with the results.

rodskee

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Quote from: ?? on ??

This is period when ETH developers need to act finnaly and finish plans regarding 2,0. BSC is more and more popular as alternative every week.

Finish? there is a time frame for this project and it must be done accordingly mate and not just like what you need.
Ethereum 2.0 is still on progress and i know that there will be enough plans Vitalik Buterin towards this launch .

Quote from: ?? on ??

Eth 2.0 and Ethreeum (Eth 1.0) are the same. because eth2.0 is a refinement of the first technology. and usually if a coin is experiencing good development, then the price of the coin will increase.

and this will add protection for the transaction fee issue as well because this is the main problem what ethereum network is experiencing now.

Cherylstar86

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Quote from: LibertyShire on May 10, 2021, 10:37:36 PM

Since the launch of Eth 2.0 seems to be earlier, will this news drive the price of Eth 1.0 down ?

Maybe there's a slight advantage that we should look after now, because as I've observed gas fee also saturated and not much expensive compared from previous. This is a great development for ethereum in the first place, so we must expect more positive changes coming.

Hypnosis00

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Quote from: LibertyShire on May 10, 2021, 10:37:36 PM

Since the launch of Eth 2.0 seems to be earlier, will this news drive the price of Eth 1.0 down ?

As per the previous announcement, it will happen next month (July) but still, we don't have a confirmed date yet (or I just miss it).
I don't know what ETH 1.0 you mean. This is just an upgrade, it won't affect the previous version.
https://vaultoro.com/what-is-going-to-happen-to-my-ethereum-1-0-coins/

But anyway, I'm not going to excite myself but I was believing that it helps a lot especially for the transaction fees. And I think everyone is waiting for this moment to come, in fact, we have been talking about this since last year.

Shasha80

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Quote from: ?? on ??

This is period when ETH developers need to act finnaly and finish plans regarding 2,0. BSC is more and more popular as alternative every week.

BSC is increasingly popular because it can provide cheaper transaction fees than ETH, but the ETH team of developers definitely won't let that happen
in the long run. Therefore, ETH developers are not in a hurry to release ETH 2.0, they are preparing carefully, in order to win the competition
against BSC. I believe that if ETH manages to release ETH 2.0, it seems like it can compete with BSC's cheap transaction fees. So in the end ETH will
win the competition to compete with BSC, remember ETH experience is better than BSC, therefore ETH knows how to survive in the crypto world.

elisabetheva

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Quote from: ?? on ??

Eth 2.0 and Ethreeum (Eth 1.0) are the same. because eth2.0 is a refinement of the first technology. and usually if a coin is experiencing good development, then the price of the coin will increase.

I don't understand what you are saying, how can you conclude that eth1.0 and eth2.0 are the same. technologically may be the same but the system developed may be different. the meaning is the same, where is there no change in the system?

Quote from: blackened515 on June 06, 2021, 06:48:20 PM

Why do you think Vitalik and his fellow ethereum team members want to develop the blockchain to eth2.0, do you think they will stop at this stage, probably, the network keeps getting new implementation and upgrade, if ETH 2.0 according to it's features of low transaction fee, and others are not finally come to use, then majority of people will leave eth for bsc because of the affordable characteristics bsc has., talking about the price, yes the new development of a project affects the price positively.

I agree with you, we know that the current problem in ethereum is the high cost, so changes are made, maybe technologically it can be the same but is there no change in the system that was built. I'm sure there will be feature changes that are updated to be able to provide ethereum can move more dynamically and the speed can be faster with prices that return to the original goal.

if there is no change in what you say, then everyone can leave ethereum to look for an alternative platform that is cheaper and the transaction is fast and many have tried it, but they will not be able to move freely if ethereum can return to the beginning

LUCKMCFLY

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Quote from: ene1980 on June 06, 2021, 04:52:41 PM

Quote from: LUCKMCFLY on June 03, 2021, 10:57:48 AM

Vitalik gives and explains to the ETH community that the update has taken a long time, that sometimes it usually takes longer than expected, when things get complicated, any detail results in the resolution of more problems to reach the goal:

Some in the cryptocurrency space knew that it was not going to be that easy and i never expected ETH to rally because of the complicated routine they are undertaking an one miss step will crash everything. So finally the brilliant mind of Vitalik understood that changing the algorithm to POS will take 6 years, which i had no clue but i knew it is going to be a hard process considering how much application and spam is run on the entire blockchain and to completely shift that in one go is not even possible.

You are right, sometimes the development problems in the blockchain are usually very difficult to correct, sometimes you have the best programmers, but the time required for the updates is insufficient, I wonder if now with this we can do something more with respect to the problem of the fee ?? For some this does not seem to affect them, but to a large extent as time goes by, this type of thing will make the currency lose value. If Vitalik does not establish a strategy to be able to attack this problem and solve it quickly, I think that things are going to get out of hand, and the problem will increase and many will not have the patience for now, it is likely that this will bring him investment level problems in the future.

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Quote from: LUCKMCFLY on June 03, 2021, 10:57:48 AM

Vitalik also makes us see that there are certain cracks with the developers, because he emphasizes that sometimes the technical problems are not all that they have to do but problems with people ... They may have everything ready before 2022, for now it's time expect.

So, we see that Eth 2.0 is a highly anticipated event for its release. because with the work that takes a long time, I'm sure Vitalik doesn't want the process to get imperfect results. I'd rather wait a long time, that way we have time to prepare for the reception. maybe some balance should be prepared. imagine the presence of Eth 2.0 is getting closer. so it doesn't hurt us to wait.

bitterguy28

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Quote from: LibertyShire on May 10, 2021, 10:37:36 PM

Since the launch of Eth 2.0 seems to be earlier, will this news drive the price of Eth 1.0 down ?

Sorry but are you referring that Ethereum 1.0 and 2.0 are opponents? meaning they are competing with each version?
Kind of funny to read this thread because this assure one thing , and that is you really knows nothing about the release and the meaning of this versions.

blackened515

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Quote from: ?? on ??

Eth 2.0 and Ethreeum (Eth 1.0) are the same. because eth2.0 is a refinement of the first technology. and usually if a coin is experiencing good development, then the price of the coin will increase.

Why do you think Vitalik and his fellow ethereum team members want to develop the blockchain to eth2.0, do you think they will stop at this stage, probably, the network keeps getting new implementation and upgrade, if ETH 2.0 according to it's features of low transaction fee, and others are not finally come to use, then majority of people will leave eth for bsc because of the affordable characteristics bsc has., talking about the price, yes the new development of a project affects the price positively.

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Quote from: RbiggerG on June 05, 2021, 03:19:25 PM

Quote from: tabas on June 04, 2021, 06:09:08 PM

Quote from: RbiggerG on June 03, 2021, 06:58:11 PM

Quote from: tabas on June 03, 2021, 03:12:25 PM

There's some news about ETH 2.0 coming from Vitalik.
Even Vitalik Buterin is surprised at just how long Eth2 is taking
Cryptocurrency : Vitalik Buterin says the Eth2 challenge goes beyond technical issues

It is a complicated issue as it is with every large update. I don't know if they some problems like Bitcoin and Bitcoin Cash back then? But I would not know why that could be the case.

Whatever but these updates are probably discussed in the slightest detail and I am sure there is no consensus all the time between them. Especially if you consider that the development individually has money at stake, which is good for the community but also leads to discussions because all of those brilliant minds on the Ethereum development team has their own opinion.

Not really a problem but a fork happened in the past. The original Ethereum back then was ETC and then the fork was named ETH which is now Ethereum, cmiiw if some experts find my explanation to be wrong.
But such update shouldn't really be hasten but it's also been a long time since they've promised that update. What's next then? when we're near to said date then they'll extend again? no one knows.

Yes but we also don't know their hierarchies and decision processes. What happens if they fundamentally disagree on something before the roll out? Maybe hat delays the whole process by a lot but they might not necessarily share any inside arguments with the public. Hopefully we will get the update and its promised effects rather sooner than later.

It's out of our scope already whatever happens inside the process. They are the only one that can know, share or keep hiding it to the public if that concern seems to be controversial.
But if we're getting a word from Vitalik himself that it's going to be delayed again for at least a year, then what we should hope for? nothing but to wait.

AmoreJaz

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Quote from: bayudndy on May 13, 2021, 01:03:37 AM

Quote from: LibertyShire on May 12, 2021, 01:56:53 AM

That's why i asked this question, not everyone can track all technical attributes of all altcoins.

Then learn to listen to everything from people, work hard to learn from those who have gone before, and this market information is also very sought-after. Here people will help you with a generous attitude, I just want to advise you to be patient for learning.

and everyone can actually search about eth 2.0. nowadays, you can always enrich your knowledge just by hitting the search button.

here are few links that can help others to understand better what will happen with this 2.0 version, sometimes, all we need is just a lil bit of reading and understanding what's going on. in this new version, we will be seeing different metrics on their block explorer which include epochs, slots and attestations. this is interesting, a different perspective of seeing how a block explorer works.

what is eth 2.0
Ethereum 2.0 Explained in 4 Easy Metrics
What Is Ethereum 2.0 and When Will It Happen?

ene1980

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Quote from: LUCKMCFLY on June 03, 2021, 10:57:48 AM

Vitalik gives and explains to the ETH community that the update has taken a long time, that sometimes it usually takes longer than expected, when things get complicated, any detail results in the resolution of more problems to reach the goal:

Some in the cryptocurrency space knew that it was not going to be that easy and i never expected ETH to rally because of the complicated routine they are undertaking an one miss step will crash everything. So finally the brilliant mind of Vitalik understood that changing the algorithm to POS will take 6 years, which i had no clue but i knew it is going to be a hard process considering how much application and spam is run on the entire blockchain and to completely shift that in one go is not even possible.

DrearyUrbanite

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Quote from: RbiggerG on June 04, 2021, 05:38:54 PM

Quote from: DrearyUrbanite on June 04, 2021, 12:17:09 PM

Quote from: RbiggerG on June 03, 2021, 06:58:11 PM

Quote from: tabas on June 03, 2021, 03:12:25 PM

There's some news about ETH 2.0 coming from Vitalik.
Even Vitalik Buterin is surprised at just how long Eth2 is taking
Cryptocurrency : Vitalik Buterin says the Eth2 challenge goes beyond technical issues

It is a complicated issue as it is with every large update. I don't know if they some problems like Bitcoin and Bitcoin Cash back then? But I would not know why that could be the case.

Whatever but these updates are probably discussed in the slightest detail and I am sure there is no consensus all the time between them. Especially if you consider that the development individually has money at stake, which is good for the community but also leads to discussions because all of those brilliant minds on the Ethereum development team has their own opinion.

But they can do so much testing that t should be relatively safe. There have been other forks although this is of course a huge one where all players have to agree. It should go well and hopefully have good effects.

You would expect that, but everyone knows what it's like when it comes to testing: it is a different situation under different conditions. The range of unexpected externalities can't be simulated. It's like in a penalty shootout in a soccer game where you hit ten out of ten in training but fail in the middle of a stressful game situation.
I am sure they will roll it out successfully but at the same time I understand how thoroughly they proceed.

It is also not like they are rolling out their first update. The fact alone that they have built Ethereum from scratch provides them with so much expertise that I don't see any issues arising they couldn't or didn't anticipate. Still though there is always some risk involved. Buterin himself says that repeatedly.

RbiggerG

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Quote from: tabas on June 04, 2021, 06:09:08 PM

Quote from: RbiggerG on June 03, 2021, 06:58:11 PM

Quote from: tabas on June 03, 2021, 03:12:25 PM

There's some news about ETH 2.0 coming from Vitalik.
Even Vitalik Buterin is surprised at just how long Eth2 is taking
Cryptocurrency : Vitalik Buterin says the Eth2 challenge goes beyond technical issues

It is a complicated issue as it is with every large update. I don't know if they some problems like Bitcoin and Bitcoin Cash back then? But I would not know why that could be the case.

Whatever but these updates are probably discussed in the slightest detail and I am sure there is no consensus all the time between them. Especially if you consider that the development individually has money at stake, which is good for the community but also leads to discussions because all of those brilliant minds on the Ethereum development team has their own opinion.

Not really a problem but a fork happened in the past. The original Ethereum back then was ETC and then the fork was named ETH which is now Ethereum, cmiiw if some experts find my explanation to be wrong.
But such update shouldn't really be hasten but it's also been a long time since they've promised that update. What's next then? when we're near to said date then they'll extend again? no one knows.

Yes but we also don't know their hierarchies and decision processes. What happens if they fundamentally disagree on something before the roll out? Maybe hat delays the whole process by a lot but they might not necessarily share any inside arguments with the public. Hopefully we will get the update and its promised effects rather sooner than later.

Topic: Eth 2.0 Impact on Eth (Read 618 times)