ETH future - page 5. | Bitcointalksearch.org

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legendary

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Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

There has been a plan regarding the transition of Ethereum from POW to POS and I think if that will be implemented, many of the current problems of Ethereum right now will be solved like Tx speed and fee (not sure though).

No need to fear if you are an investor since it has retained its spot for a very long time already. No one has surpassed Ethereum in terms of market cap aside from Bitcoin of course. With regards to its competitors though, most of the other smart contract coins are faster and have cheaper fees compare to Ethereum.

mindrust

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Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

Why would he regret his decision? PoS is more energy efficient compared to PoW and most importantly, gamers hate PoW because of the demand they create on GPU's. I think Vitalik has a point. The only time where using PoW makes more sense than using PoS is at the beginning of the project. After using PoW a couple of years, moving to PoS sounds like a good idea because the electricity PoW spends grows exponentially and that's clearly unsustainable in the long run.

masterrex

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Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

I think your fear has no substance at all because the Eth 2.0 network upgrade has incorporated all of the necessary functions and features on the Eth network like scalability and of course, the PoS algorithm, but the program has also encountered some setbacks for many unknown reasons and also the networks has encountered some problems because of expensive transaction fees.

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Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

Its does not matter. Etherium still has high use case even new smart contract use POS. We can expect something big in future because etherium is top class project and Vitalik will not leave Etherium down. Stay tune and see what happen.

accounting 181293

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Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

how about if the opposite happened, when POS was released, it turned out to strengthen the position of ethereum. and your worries never come true. isn't this also one of the possibilities that can happen when ethereum releases POS. imagine when eth 2.0 runs fully, that means TPS has been upgraded and scalability issues have been resolved. network fees can be very cheap, cheaper than today. these are some of the advantages of upgrading the ethereum network that we will feel. so there's no harm in accepting this upgrade.

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Quote from: Sled on March 26, 2022, 07:48:39 AM

Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

Well, I think you miss the info as ETH is moving now to PoS from PoW mechanism.

https://ethereum.org/en/developers/docs/consensus-mechanisms/pos/

So I guess, your worries and fear will stop and get back to trusting ETH again. But even that, the ETH network is huge and concerning about being still on the PoW mechanism, this never changes the fact that ETH has a better future compared to the other altcoins. Well, at least this changes make ETH more efficient and cost-saving.

if i have never doubted ethereum in the past, because ethereum has a smart contract which is certainly different from many other altcoins, wanting to use PoS or PoW mechanism for me never had a problem with it, so i never had any doubts about the future development of ethereum.

Sled

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Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

Well, I think you miss the info as ETH is moving now to PoS from PoW mechanism.

https://ethereum.org/en/developers/docs/consensus-mechanisms/pos/

So I guess, your worries and fear will stop and get back to trusting ETH again. But even that, the ETH network is huge and concerning about being still on the PoW mechanism, this never changes the fact that ETH has a better future compared to the other altcoins. Well, at least this changes make ETH more efficient and cost-saving.

jrrsparkles

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Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

Seems you came here straight after coma? Huh

Because ETH is already switching to PoS which is called ETH2.0 so people who can have enough ethereum can become the nodes and its expected the TPS by 100 times but all these things will take time atleast a couple of years.

so98nn

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Well just because we have fear does not mean the projects should not be upgraded to newer technology? This is much much needed becasue we all are stuck with huge fees and long wait of confirmations in PoW. I dont think Vitalik will ever regret his decision. They completely understand the current issues with the ETH and he can not just sit and do nothing about it?

Quote from: kidbounty on March 26, 2022, 07:16:26 AM

Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

POW is a problem nowadays, many countries are starting to question the environmental impact caused by crypto mining activities. the biggest one is china, they last year started banning all kinds of crypto mining activities in that country. and many say POS is the solution to the problems of the crypto ecosystem. there are no issues related to environmental impact and that might be the way for wider adoption.

moreover POS on ethereum network is also a solution for better scalability. and I think being different is not the only way to be superior. so you don't need to be afraid if later ethereum looks the same as other smart contract networks that use POS first. instead it is another reason for people to use ethereum again.

Correct. Though I dont agree that mining alone is causing issues with the environmental destruction ( Roll Eyes

) but what we can do about those protestor and government bans? To overcome such challenges I am sure these kinda upgrades surely needed.

Beyond this, all the new coming projects have all their rights to create projects based on the PoS. In fact we are waiting for such projects which are more or less independent and staked one.

kidbounty

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Quote from: MetaMii on March 26, 2022, 05:20:27 AM

I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

POW is a problem nowadays, many countries are starting to question the environmental impact caused by crypto mining activities. the biggest one is china, they last year started banning all kinds of crypto mining activities in that country. and many say POS is the solution to the problems of the crypto ecosystem. there are no issues related to environmental impact and that might be the way for wider adoption.

moreover POS on ethereum network is also a solution for better scalability. and I think being different is not the only way to be superior. so you don't need to be afraid if later ethereum looks the same as other smart contract networks that use POS first. instead it is another reason for people to use ethereum again.

bussybuddy

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Your fear doesn't matter much given the fact that it is the top altcoin in the market. Relax and feel for yourself how many things have appeared and competed with it, I find it a matter of liking and changing in accordance with the present and future plans that see ETH always strong. And now the interest in ETH 2.0 is growing, so put your worries away and look at the growth coming its way.

MetaMii

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I fear for ETH future, almost all smart contract projects are using the PoS staking algorithm but only ETH PoW stands alone, this makes ETH different and one of a kind smart contract project, I think vitalik buterin will regret is decision after ETH goes PoS.

Topic: ETH future - page 5. (Read 588 times)