ETH Difficulty Bomb Delayed Again - page 2.

so98nn

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Quote from: amishmanish on July 11, 2021, 02:21:33 AM

Isn't Ethereum planning to move to PoS? Why the "difficulty bomb" then? Where is the concept of difficulty when the network is PoS? Some explanation would be appreciated.
[...]

PoS will work as pledge to network reward system so yes the mining concept will be long gone.

Actually the "difficulty bomb" is still in talks because of the same decision as they await the PoW to PoS switching. They are still expecting that ETH 1.0 will be moved to the ETH 2.0 which will be entirely based on PoS, calling it the process of "the merge". This is the main reason they are pushing the "difficulty bomb" implementation to the next spring in the hope that PoS will be fully implemented. If the later happens then they don't need to rely on the "difficulty bomb" at all!

The exact statement by one of the ETH developers Tim Beiko was this:

Quote

“If the Merge is ready by December, we won’t need to do anything about the bomb because we will move away from mining entirely,” Beiko said

So it's more or less back up if they are unsuccessful with the ETH 2.0 implementation.

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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.

With the launch of a series of improvements, the development of ETH is increasingly perfect by itself, although the development takes time.
if the reason for development is as a security alternative, then I totally agree with that, considering that there are so many inability to manage to make the coin itself increasingly not enjoyed by connoisseurs.
I think ETH's inability to scale on time is a reference to change that, as an alternative, other ways must be considered so that people don't get bored, this increase is very important to make ETH more in front and trusted by people, while techniques and patterns need to be we will discuss further in my opinion

amishmanish

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Isn't Ethereum planning to move to PoS? Why the "difficulty bomb" then? Where is the concept of difficulty when the network is PoS? Some explanation would be appreciated.

What is funny though is that people still don't understand that "scaling" cannot be solved by promises. There are a lot of networks out there promising scaling and which simply run into too many problems related to consensus and coordination as soon as the network actually is put to test, for example, Cardano. The same is true for Eth's scaling.

Despite the delays, I don't think Ethereum has anything to fear from the alternatives being touted. They all eventually have the same problems when people actually start using those chains. Ethereum has enough momentum to keep going.

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Quote from: aioc on July 11, 2021, 12:13:39 AM

They have a reason for the delay, and that is to perfect the system before the launch, they know very well that their competitors are taking this opportunity to launch their own chain or bridge their chain we are all going to benefit if they launch their system in the right time, any way we have a good alternative in Binance Smart Chain.
It's going to be a good competition and will enhance users' experience once they launch so we have to be patient and wait.

Ethereum is big platform and if you look beyond cryptocurrency, big corporations like Google have challenges to any internal reconstruction for strategies, staffs, ... Sundar Pichai is very carefully and slowly to make important decisions of appointments for Google.

Vitalik and Ethereum team have to been as most carefully as possible for the upgrade because any fault will be terrible. They don't want another DAO hack. Ethereum nowadays are the second giant in cryptocurrency industry and they don't want to lose it just because an upgrade.

aioc

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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.

They have a reason for the delay, and that is to perfect the system before the launch, they know very well that their competitors are taking this opportunity to launch their own chain or bridge their chain we are all going to benefit if they launch their system in the right time, any way we have a good alternative in Binance Smart Chain.
It's going to be a good competition and will enhance users' experience once they launch so we have to be patient and wait.

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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.

yes this is very disappointing and makes me angry. ethereum developers like making promises that are never kept. many people including myself have been looking forward to POS since last year. but it's always having delays. indeed ETH 2.0 should be launched soon, or slowly ethereum will lose its position. competitors are getting better every day. and ethereum is still struggling with scaling issues.

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Quote from: criket on July 10, 2021, 10:22:37 PM

looks like the ethereum developers are doing it very carefully. of course, they don't want to rush to launch it perfectly. all very well processed. I'm sure those who support ETH by holding it in their wallets will surely reap the rewards of their long patience.
I think it's okay for the delay, although the current position of smart contract adoption is indeed mostly dominated by BSC who take advantage of this situation. everyone will still know how ETH is a real lion.

It is okay to have delays as long as they can commit with their deliverables. Maybe, next time, before eth team will give certain timeline of their next event, just provide allowances from their end so even if there are internal delays, it will not be far from their target schedule. But the nice thing about eth team is they do deliver and more. So I think the price of eth will continue to increase. Interesting what will happen this Aug 4 with their price level.

criket

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looks like the ethereum developers are doing it very carefully. of course, they don't want to rush to launch it perfectly. all very well processed. I'm sure those who support ETH by holding it in their wallets will surely reap the rewards of their long patience.
I think it's okay for the delay, although the current position of smart contract adoption is indeed mostly dominated by BSC who take advantage of this situation. everyone will still know how ETH is a real lion.

Fundamentals Of

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I think there is no reason to be impatient. The upgrade has to be in perfect shape. That's the primary consideration. Schedules are secondary. You don't implement the upgrade prematurely or else it would cause more harm than good. Better not to upgrade than upgrade prematurely. So I don't see any reason for Ethereum to weaken simply because there's another postponement happening. That is to be lauded in fact. Prevention is always better than cure. I appreciate the Ethereum devs for taking very careful steps on this.

Jaered

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I think you should take it easy on Ethereum. You're being too hard on it. Buterin just wants to make sure everything is tip top this time around. Besides Binance currently has its own problems now

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They should give a firm promise when they will make sure the upgrade to ETH 2.0. People have been waiting of it all year long and until now, they're delaying it and making some updates surprisingly. Although those updates were also for the good of the network.
But it is what it is and what they've said about 2.0 must be followed and done as promised. If they don't give any timeframe before, we don't have to expect anything from them by that time but it has been said already by them.

GreatArkansas

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About these delays, for sure they have a reason/s for it.
As we all know, scalability is one of the disadvantages of Ethereum right now, but once this will be solve by Ethereum 2.0, look how our life will become easier, Ethereum for sure will be more useful, and probably other Layer 1 Ethereum alternative protocols could be affected by it.
But I believe that our wait will be worth it.

20kevin20

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The inability of "scaling in time" will imo be easily forgotten once ETH scales. I think scaling is an issue that's present within many of the top blockchains if not all of them (I'm talking about decentralized ones), so why would ETH's failure to scale in time be such a big issue? As soon as it's gonna be considered a good investment again, people will pour money into it.

Abiky

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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.

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