ETH Difficulty Bomb Delayed Again | Bitcointalksearch.org

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: zasad@ on July 16, 2021, 09:22:50 AM

The community will still have to wait a little longer.
The team has solved all the problems and is ready to start ETH 2.0 Merge
https://ethmerge.com/
Next, there will be a procedure for launching new shards, which will take another couple of years.
Merge will only reduce inflation on the Ethereum network and stop mining

It sucks having to wait a long time just to obtain the benefits of other blockchain networks (which are low fees and fast transaction confirmation times). At least, we can be sure that the upgrade will be as stable as possible after launch. I guess security/reliability is more important than rushing things out and putting the whole Blockchain at risk. Most people want convenience on top of everything else, so they'd get desperate when developers delay the upgrade. The longer it takes for ETH 2.0 to be rolled on mainnet, the higher BNB and other competitors will go.

Fortunately, there are scaling solutions available to make our lives easier on ETH. The "MATIC" network is up and running, with several projects making use of it for low fees and blazing-fast speeds. Aave and Instadapp are using Polygon (MATIC) to counteract the high fees and slow transaction throughput of the main ETH blockchain. With this, we may no longer need to wait for ETH 2.0 to enjoy the benefits of other blockchain networks. What matters is decentralization above all else. If ETH remains decentralized, nothing else matters. Just my thoughts Grin

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

Quote from: ?? on ??

Quote from: Abiky on July 09, 2021, 04:55:57 PM

Ethereum will be rolling a series of upgrades with the "London" hard fork on August 4, 2021. It'll be an exciting time for ETH holders as the cryptocurrency becomes scarcer than ever while fees decline considerably across the Blockchain. While the hard fork will bring many benefits, it will also delay the difficulty bomb to Dec 1st. We're going to have to wait again until ETH becomes a full-fledged cryptocurrency.

This sucks real bad, since developers keep delaying ETH 2.0 after each upgrade. I know they want to make sure the new upgrade is as secure as possible before rolling it on "mainnet". But the many delays are making people desperate as the current implementation of the ETH blockchain becomes heavily congested. If this keeps up, Binance Chain or another competitor could take down ETH's position as the leader of the smart contracts industry.

What are your thoughts? Do you like the idea of delaying the difficulty bomb after each hard fork? Do you think sometimes enough is enough? Will people get tired of ETH's inability to scale on time? Your input will be greatly appreciated. Thank you very much.

the community is actually tired of this delay. but nothing can be done, they start to not care about this matter. whenever there is an update it will always end in a longer delay. even i'm starting to doubt whether ethereum is really capable of using POS or not. and whether they have found a solution for scaling.

The community will still have to wait a little longer.
The team has solved all the problems and is ready to start ETH 2.0 Merge
https://ethmerge.com/
Next, there will be a procedure for launching new shards, which will take another couple of years.
Merge will only reduce inflation on the Ethereum network and stop mining

campusnet

member

Activity: 481

Merit: 11

Quote from: ?? on ??

the community is actually tired of this delay. but nothing can be done, they start to not care about this matter. whenever there is an update it will always end in a longer delay. even i'm starting to doubt whether ethereum is really capable of using POS or not. and whether they have found a solution for scaling.

you should be calmer. don't worry about the ethereum development that is currently underway. although in the delay I think it was explained from the start that planning for this latest development will take a long time.
I believe that when it's all done it will pay dearly for what many people have doubted.

ARTURVH

member

Activity: 99

Merit: 10

Vitalik has to be most carefully as possible for the upgrade because any fault will wipe out a huge market,.The upgrade will take a long time.We should be more patiently.Binance Smart Chain also is perfect and it developes rapidly，Maybe one day BNB will take place of Eth ,but not now.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: LogitechMouse on July 13, 2021, 05:37:41 AM

Cardano has been there for a very long time. They've delayed some of their developments to with the coin but still there are some supporters of the coin.

Same goes with Ethereum. Delaying some developments have reasons too but still the support with the coin is still the same. I don't like the idea of delaying such developments with the coin especially if its very beneficial to the community but when you released it on the date and it turns out to be a fail then it might cause the project and the coin to go down. Delaying for the betterment of the project would be better than to releasing it and it becomes a failure.

I don't think that people will get tired of ETH's inability to scale. After all like I said, there are many projects that are under the Ethereum blockchain so there will be users and supporters who will just live on how fast transaction speed of ETH is.

As they always say, "better safe than sorry". The ETH developer team is being extremely careful by making sure everything is in tip top shape before launching the new version to the public. Transitioning from PoW to PoS while retaining decentralization/security/reliability is NOT an easy task. Many people will be desperate as fees soar towards new heights. There's no reason to worry about Ethereum getting "clogged" since there are other alternatives on the market with greater transaction capacity and cost-efficiency. If people want convenience/ease-of-use, then Binance Chain or Cardano would be the way to go.

Sooner or later ETH 2.0 will come into fruition, making the Ethereum platform bigger, faster, and stronger than ever. As long as decentralization is put first, nothing else matters. Just my opinion

OcTradism

hero member

Activity: 1722

Merit: 801

Quote from: amishmanish on July 14, 2021, 02:48:20 AM

Those are pretty wild predictions. The last rally for Ethereum was based on the final specs for launch of ETH 2.0. I think people rushed for the 32 ETH requirement and that created this current price floor. Apart from that, there wasn't anything fundamentally new about Ethereum.

So expecting almost a 5X solely because of launching PoS is too optimistic. PoS has a different set of issues and hasn't really been done on this scale except in a fully centralized manner (as in case of Binance Chain).

In crypto, it is possible.

People did not believe that Ethereum can get its 2018 all time high, they said the altcoin will never touch that expensive price again.

Then what happened? Ethereum broke the cap $1,400 and soared to more than $4,100. They had many reasons to disbelieve in Ethereum because they saw Changpeng Zao shilled Binance Smart Chain and they can use BNB and that chain with very cheap transaction fee.

Ethereum will be like Bitcoin, beat all fud and opponents to get its new all time high. BNB can get a price of ETH in 2018 soon but it will need a few years to rise to $4,000 like ETH months ago.

amishmanish

legendary

Activity: 1904

Merit: 1159

Quote from: OcTradism on July 13, 2021, 06:46:35 AM

--snip--
Soon people who are complaining and selling at this correction, accumulation time will buy Ethereum when it breaks $5,000 or $10,000. They will repeat what the crowd did with Bitcoin in 2017. No one thought Bitcoin would rise to almost $20,000 in 2017.

Ethereum, this year might get a price at 5 digits, $10,000.

Those are pretty wild predictions. The last rally for Ethereum was based on the final specs for launch of ETH 2.0. I think people rushed for the 32 ETH requirement and that created this current price floor. Apart from that, there wasn't anything fundamentally new about Ethereum.

So expecting almost a 5X solely because of launching PoS is too optimistic. PoS has a different set of issues and hasn't really been done on this scale except in a fully centralized manner (as in case of Binance Chain).

Quote from: jaberwock on July 13, 2021, 11:03:37 AM

--snip--
In any case thanks to this London fork I am sure that the gas fee will get a lot cheaper and thanks to that we are going to see the difficulty not be a huge problem when the bomb actually goes off. What are we scared of?

What the hell is this bomb everyone keeps talking about? I am not well versed with Ethereum and the community. So all of this is a bit new.

[email protected]

full member

Activity: 1120

Merit: 101

Quote from: Anonylz on July 13, 2021, 04:21:33 AM

I think it is better if they don't give a time frame when eth 2.0 will be fully ready to avoid making people waiting for it disappointed, while it is very important for the devs to insure everything is working in accordance before launching it, it will safe many the disappointment whenever the expected date passed without the launch, things like this can't be rushed, reason why the delays will occur, people have to understand this.

for something big why not publish? the time is fixed and indeed sometimes there are delays, I think that's normal. they need a long time to develop a project as big as ethereum.
everyone has been waiting a long time for this great development to be completed. the time is still long and everyone is still patient.

jaberwock

legendary

Activity: 2660

Merit: 1074

Quote from: Abiky on July 09, 2021, 04:55:57 PM

Ethereum will be rolling a series of upgrades with the "London" hard fork on August 4, 2021. It'll be an exciting time for ETH holders as the cryptocurrency becomes scarcer than ever while fees decline considerably across the Blockchain. While the hard fork will bring many benefits, it will also delay the difficulty bomb to Dec 1st. We're going to have to wait again until ETH becomes a full-fledged cryptocurrency.

This sucks real bad, since developers keep delaying ETH 2.0 after each upgrade. I know they want to make sure the new upgrade is as secure as possible before rolling it on "mainnet". But the many delays are making people desperate as the current implementation of the ETH blockchain becomes heavily congested. If this keeps up, Binance Chain or another competitor could take down ETH's position as the leader of the smart contracts industry.

Ethereum will eventually have that delay catch up, they delayed it so many times now and eventually one day it will have that difficulty increase and that is just fine, I do not even think that they should keep delaying it and if we had it back in the day it would have hurt it at the time in short term but in the long term by now there wouldn't have been a problem.

In any case thanks to this London fork I am sure that the gas fee will get a lot cheaper and thanks to that we are going to see the difficulty not be a huge problem when the bomb actually goes off. What are we scared of? The difficulty going up and why? Because it will increase the gas fee a lot and it will congest a ton, well with the new gas fee thing I am sure that it will not become a problem and people will be able to pay at least 5-10 bucks for a month or two after the bomb and then it will be fully empty and be free finally.

OcTradism

hero member

Activity: 1722

Merit: 801

Quote from: LogitechMouse on July 13, 2021, 05:37:41 AM

Same goes with Ethereum. Delaying some developments have reasons too but still the support with the coin is still the same. I don't like the idea of delaying such developments with the coin especially if its very beneficial to the community but when you released it on the date and it turns out to be a fail then it might cause the project and the coin to go down. Delaying for the betterment of the project would be better than to releasing it and it becomes a failure.

I don't think that people will get tired of ETH's inability to scale. After all like I said, there are many projects that are under the Ethereum blockchain so there will be users and supporters who will just live on how fast transaction speed of ETH is.

Upgrade and increase scalability are good but they are not decisive for the price of Ethereum, so do Bitcoin.

Soon people who are complaining and selling at this correction, accumulation time will buy Ethereum when it breaks $5,000 or $10,000. They will repeat what the crowd did with Bitcoin in 2017. No one thought Bitcoin would rise to almost $20,000 in 2017.

Ethereum, this year might get a price at 5 digits, $10,000.

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Need A Campaign Manager? | Contact Little_Mouse

Quote from: Abiky on July 09, 2021, 04:55:57 PM

What are your thoughts? Do you like the idea of delaying the difficulty bomb after each hard fork? Do you think sometimes enough is enough? Will people get tired of ETH's inability to scale on time? Your input will be greatly appreciated. Thank you very much.

Cardano has been there for a very long time. They've delayed some of their developments to with the coin but still there are some supporters of the coin.

Same goes with Ethereum. Delaying some developments have reasons too but still the support with the coin is still the same. I don't like the idea of delaying such developments with the coin especially if its very beneficial to the community but when you released it on the date and it turns out to be a fail then it might cause the project and the coin to go down. Delaying for the betterment of the project would be better than to releasing it and it becomes a failure.

I don't think that people will get tired of ETH's inability to scale. After all like I said, there are many projects that are under the Ethereum blockchain so there will be users and supporters who will just live on how fast transaction speed of ETH is.

Anonylz

hero member

Activity: 2562

Merit: 577

I think it is better if they don't give a time frame when eth 2.0 will be fully ready to avoid making people waiting for it disappointed, while it is very important for the devs to insure everything is working in accordance before launching it, it will safe many the disappointment whenever the expected date passed without the launch, things like this can't be rushed, reason why the delays will occur, people have to understand this.

amishmanish

legendary

Activity: 1904

Merit: 1159

Quote from: ivankoh on July 11, 2021, 09:23:18 AM

I don't think there's going to be anything panicky about ETH. Do you want their success and promises to be perfect and cover up any remaining flaws? Over 6 million ETH staked in ETH 2.0 (Over 180k users there). I believe ETH 2.0 will respond very well and the price will explode.
https://finance.yahoo.com/news/six-million-ethereum-now-being-125829747.html

What makes you so confident about the success of PoS? ETH 2.0 is not going to be the first PoS coin. A lot of them have tried this system of using validating nodes instead of miners for processing of transactions and generation of blocks.

How is ETH 2.0 different from say ADA etc. which claim that they are better than Ethereum?

On top of that, it is already going through the MEV issues which are leading to instability. What I mean is that what makes you so certain about Ethereum's success and how is its PoS model different from those hundred others which have failed to work at scale.

Gayong88

member

Activity: 1540

Merit: 22

Sir, you are a very capable and in-depth analyzer. I'm quite confident the top two places are for ETH since it has a lot of users and solid fundamentals, and it's still the safest, even though BTC corrections happen all the time. BNB is currently in third place for its rating since it has been following the ETH trend in recent weeks; I believe JP Morgan is also strong with Ethereum: morgan, https://decrypt.co/75108/ethereum-mengintai-crypto-jp.

BitcoinPanther

hero member

Activity: 1918

Merit: 564

Quote from: Abiky on July 09, 2021, 04:55:57 PM

What are your thoughts? Do you like the idea of delaying the difficulty bomb after each hard fork? Do you think sometimes enough is enough? Will people get tired of ETH's inability to scale on time? Your input will be greatly appreciated. Thank you very much.

I think delaying things to insure that everything works well is better than being prompt but glitchy or buggy. I don't mid waiting for another months as long as the update is perfectly done.

People may get tired on waiting but the one who wants it done right won't.

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: Abiky on July 09, 2021, 04:55:57 PM

~
This sucks real bad, since developers keep delaying ETH 2.0 after each upgrade. I know they want to make sure the new upgrade is as secure as possible before rolling it on "mainnet". But the many delays are making people desperate as the current implementation of the ETH blockchain becomes heavily congested. If this keeps up, Binance Chain or another competitor could take down ETH's position as the leader of the smart contracts industry.

There is nothing you can do about it, the upgrade will take a long time because any misstep and they are going to wipe out a huge market and hence they need to be careful with the upgrade as it is not that easy to migrate without proper testing. Binance and other chains had a good run because of the congestion in ETH and it will continue to help other projects.

ivankoh

full member

Activity: 1428

Merit: 120

Sugars.zone | DatingFi - Earn for Posting

Quote from: Abiky on July 09, 2021, 04:55:57 PM

Ethereum will be rolling a series of upgrades with the "London" hard fork on August 4, 2021. It'll be an exciting time for ETH holders as the cryptocurrency becomes scarcer than ever while fees decline considerably across the Blockchain. While the hard fork will bring many benefits, it will also delay the difficulty bomb to Dec 1st. We're going to have to wait again until ETH becomes a full-fledged cryptocurrency.

This sucks real bad, since developers keep delaying ETH 2.0 after each upgrade. I know they want to make sure the new upgrade is as secure as possible before rolling it on "mainnet". But the many delays are making people desperate as the current implementation of the ETH blockchain becomes heavily congested. If this keeps up, Binance Chain or another competitor could take down ETH's position as the leader of the smart contracts industry.

What are your thoughts? Do you like the idea of delaying the difficulty bomb after each hard fork? Do you think sometimes enough is enough? Will people get tired of ETH's inability to scale on time? Your input will be greatly appreciated. Thank you very much.

I don't think there's going to be anything panicky about ETH. Do you want their success and promises to be perfect and cover up any remaining flaws? Over 6 million ETH staked in ETH 2.0 (Over 180k users there). I believe ETH 2.0 will respond very well and the price will explode.
https://finance.yahoo.com/news/six-million-ethereum-now-being-125829747.html

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: Abiky on July 09, 2021, 04:55:57 PM

...What are your thoughts? Do you like the idea of delaying the difficulty bomb after each hard fork? ...

The decision to postpone the bomb of complexity until December 2021 was made back in May. The developers of Ethereum believe that at the time of the merger of the network to Ethereum-1.0 and Ethereum-2.0, the issue with the complexity bomb will be completely removed, since mining will die.

semobo

full member

Activity: 1498

Merit: 146

These minor upgrades are not going to bring any major changes in the blockchain so its better to roll Ethereum 2.0 as soon as possible or else ethereum blockchain will lose its community meanwhile BSC is making huge steps forwards but never forget that its a centralized chain so its not an actually cryptocurrency to invest.

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

Quote from: Abiky on July 09, 2021, 04:55:57 PM

Ethereum will be rolling a series of upgrades with the "London" hard fork on August 4, 2021. It'll be an exciting time for ETH holders as the cryptocurrency becomes scarcer than ever while fees decline considerably across the Blockchain. While the hard fork will bring many benefits, it will also delay the difficulty bomb to Dec 1st. We're going to have to wait again until ETH becomes a full-fledged cryptocurrency.

This sucks real bad, since developers keep delaying ETH 2.0 after each upgrade. I know they want to make sure the new upgrade is as secure as possible before rolling it on "mainnet". But the many delays are making people desperate as the current implementation of the ETH blockchain becomes heavily congested. If this keeps up, Binance Chain or another competitor could take down ETH's position as the leader of the smart contracts industry.

What are your thoughts? Do you like the idea of delaying the difficulty bomb after each hard fork? Do you think sometimes enough is enough? Will people get tired of ETH's inability to scale on time? Your input will be greatly appreciated. Thank you very much.

https://ethereum.org/en/
The complexity bomb is no longer a relevant topic, because about 6 months remain until the POS algorithm
Binance Chain is not a competitor because it is a centralized blockchain with 21 validators
https://bscscan.com/validators#
Ethereum has over 11,000 validators
https://beaconcha.in/validators

Topic: ETH Difficulty Bomb Delayed Again (Read 317 times)