Ethereum 2.0 what to expect - page 2.

velosepur

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Quote from: VanDeinsberg12 on August 09, 2021, 09:21:30 AM

Quote from: velosepur on August 07, 2021, 03:25:35 PM

Eth have high costs of transfers. New version 2.0. will bring low costs for users I hope and we have to wait a bit more. We need to be patient, that all we know sure.

Im not sure about that. I didn't even see the blocksize has become a priority in the update. that means if there could be yes or not. Ethereum may get a cheap fees or never.
it depends on what kind of update that will come soon and if there will be a blocksize increase and that would be fine.

Reason why I expect that is simple. If they dont fix high costs of transfers people will try to avoid transfers and switch to bsc and others. We will see, cant be sure, just expectation.

VanDeinsberg12

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Quote from: velosepur on August 07, 2021, 03:25:35 PM

Eth have high costs of transfers. New version 2.0. will bring low costs for users I hope and we have to wait a bit more. We need to be patient, that all we know sure.

Im not sure about that. I didn't even see the blocksize has become a priority in the update. that means if there could be yes or not. Ethereum may get a cheap fees or never.
it depends on what kind of update that will come soon and if there will be a blocksize increase and that would be fine.

pawanjain

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Quote from: cryptoknows on August 09, 2021, 05:51:39 AM

Quote from: BIN-BIN on August 05, 2021, 09:44:04 AM

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

Don't you think the event paradox? The price will definitely rise, and with the rise in prices and the congestion of the ethereum network, the gas will not fall below 40-50, this is obvious, and if the rate falls, the amount of gas will be much higher. These are all Two sides of the same coin. Only cross-chain projects such as Solana, DOT, Near will help the ETH ecosystem. With the help of their technologies, the throughput of the eth ecosystem will grow, as well as the ecosystem of ETH and similar related projects will grow.

That might be true. Solana and Polkadot are some good blockchains with interoperability and their ecosystem might act as a catalyst for Ethereum network.
Even I think that these blockchains will co-exist and will probably help each other to create a vast global network with growing number of usecases.

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Quote from: BIN-BIN on August 05, 2021, 09:44:04 AM

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

Don't you think the event paradox? The price will definitely rise, and with the rise in prices and the congestion of the ethereum network, the gas will not fall below 40-50, this is obvious, and if the rate falls, the amount of gas will be much higher. These are all Two sides of the same coin. Only cross-chain projects such as Solana, DOT, Near will help the ETH ecosystem. With the help of their technologies, the throughput of the eth ecosystem will grow, as well as the ecosystem of ETH and similar related projects will grow.

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Quote from: clarkt on August 07, 2021, 12:39:02 AM

The interesting part of ethereum London fork for me is the burning mechanism, the fact that there will be lesser and lesser ether as transaction occur on ethereum network will help with inflation, the fear of unlimited supply and demand! The miner have held users at the jugular for some time as a result of high fee. Transaction fee on ethereum should be predictable now and the network should be more decentralised!

I think inflation is not a problem. Firstly because it is not high and secondly because the network is growing faster than new coins are being created. If inflation were a problem, the price per Ether would have decreased rather than increased in the past. So I expect that the additional burning mechanism will rather ensure that ETHER will develop even better in price.

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Quote from: velosepur on August 07, 2021, 03:25:35 PM

Eth have high costs of transfers. New version 2.0. will bring low costs for users I hope and we have to wait a bit more. We need to be patient, that all we know sure.

That's what the original plan is, to minimised the transaction fees because everyone is complaining, there are some projects that move away from ETH and go to BSC because of this one. But I heard that the fees are still high though despite the roll out of ETH 2.0, that's what I read so I'm surprised to hear that.

As for the burning, it brings good and bad news, for investors it might mean that with the supply dwindling the price might go high in the future. The bad news is that it's not always been the case for mot altcoins, so we will have to see the effect in the next coming years.

velosepur

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Quote from: BIN-BIN on August 05, 2021, 09:44:04 AM

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

That's some pretty awesome update, the part that got me was the part where fees will be burned instead of been given to miners, also the decrease in supply of Ethereum is a huge one, these will definitely make Ethereum even more valuable, I think once the ETH 2.0 goes live we might see Ethereum at $10,000,honestly this is really huge Ethereum will be a blast after this upgrade is done.

Sure good update and will bring nice improvement which will reflect on eth regarding usage and price too. But we need to wait, date we dont have so patience is key Grin

velosepur

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Eth have high costs of transfers. New version 2.0. will bring low costs for users I hope and we have to wait a bit more. We need to be patient, that all we know sure.

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Quote from: bitkanu on August 06, 2021, 01:30:33 AM

It seems like that ethereum developers are changing its plan to not eliminate the miners. As far as i know that miners have been significantly contributing to the network. I do believe ethereum will be going to the hybrid mode. Miners have no power to manipulate the traffic dude, Think again

With the introduction of the London fork, the remuneration for miners has significantly decreased, which has become less by the amount of burned Ethereum. And along with a decrease in remuneration, miners will transfer their equipment to mining other coins, which may lead to an increase in the commission in the network.

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With the presence of Ethereum 2.0, crypto users really hope that the high gas problem will be resolved soon, because high gas prices can make users switch to altcoins such as Binance which is one of the best altcoins that have low fees, to anticipate this . it would be nice if this eth user complaint could be handled,

This is the expectation of many people, people already enduring high gas fees from the eth network which is not very easy for many small transaction users, I hope with the coming of eth 2.0 this most pressing issue will be resolved, otherwise it will be very disappointing to so many people who put their hope in this new updated version of eth.

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Quote from: Devifajarina on August 07, 2021, 04:30:24 AM

People's expectations are actually very simple, everyone wants ethereum to solve such a high gas problem, to be able to adapt to today's demand, this factor is inseparable from the main problem we often hear.

However, ethereum is very unlikely to not use people to transact at this time, moreover the demand for ethereum is increasing and causing shortages, so that price increases are the next option that makes people think more about using transactions.

the gas price is too high and it's not affordable for most of people, that's why using bsc is more suitable at this time, but if ethereum price is also increasing in the future, then the eth needed to make erc20 transaction will become more unbearable, it's a lot better if eth could make its fee like bsc, but i wonder if that could happen or not. after all eth has been having high gas fee for a long time.

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Quote from: BIN-BIN on August 05, 2021, 09:44:04 AM

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

People's expectations are actually very simple, everyone wants ethereum to solve such a high gas problem, to be able to adapt to today's demand, this factor is inseparable from the main problem we often hear.

However, ethereum is very unlikely to not use people to transact at this time, moreover the demand for ethereum is increasing and causing shortages, so that price increases are the next option that makes people think more about using transactions.

Brus123

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Quote from: BIN-BIN on August 05, 2021, 09:44:04 AM

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

Ethereum is a very complex system with many moving parts, which is being worked on by independent development teams. Coordinating their efforts and making sure that everything works flawlessly is not an easy task. When the security of a huge amount of money is at stake, haste will only harm, because a full transition to PoS takes so much time. But the output will be a bulletproof system, where even the failure of one or more clients will not affect the performance of the network.

I expect that with the launch of Ethereum 2.0. this system will be much more scalable, it means faster and cheaper.

clarkt

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The interesting part of ethereum London fork for me is the burning mechanism, the fact that there will be lesser and lesser ether as transaction occur on ethereum network will help with inflation, the fear of unlimited supply and demand! The miner have held users at the jugular for some time as a result of high fee. Transaction fee on ethereum should be predictable now and the network should be more decentralised!

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Quote from: AmoreJaz on August 06, 2021, 06:33:33 PM

Quote from: michellee on August 06, 2021, 08:04:45 AM

If the update can bring a new thing for ethereum in lowering the fee, it will make the investors who already move from ethereum back to use ethereum or invest more in ethereum. In this way, that can lift the price to increase because the demand from the investor will be bigger but I do not think that will happen so soon because the investor will see what will happen with the latest update.

The market position will gives ethereum a stronger position to lead the altcoin and still behind bitcoin and maybe BNB will lose the competition for a while until BNB can announce the next update. But ethereum can still defend its position in the market.

upon checking the eth gas tracker today -

it seems the fees are still high, maybe, we will see the reduction of fees later on. but the market is showing very positive movement, not only eth, but btc - as we are above 42k level again. for most of us, this hard fork should lower the fees in eth platform. it may take some time before we see it working.

I think the impact will not happen in a short time as it needs to change slowly. But yes, ethereum gives a positive movement right now, and I think the price will be back to $3,000 as the price now is at $2,900. So it needs $100 more to reach $3,000, which could reach on this day or tomorrow.

Bitcoin shows positive movements as now the price can break $43,000, which can still rise to $44,000. Hopefully, this month can bring new hope for us to see crypto can grow again.

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Quote from: michellee on August 06, 2021, 08:04:45 AM

If the update can bring a new thing for ethereum in lowering the fee, it will make the investors who already move from ethereum back to use ethereum or invest more in ethereum. In this way, that can lift the price to increase because the demand from the investor will be bigger but I do not think that will happen so soon because the investor will see what will happen with the latest update.

The market position will gives ethereum a stronger position to lead the altcoin and still behind bitcoin and maybe BNB will lose the competition for a while until BNB can announce the next update. But ethereum can still defend its position in the market.

upon checking the eth gas tracker today -

it seems the fees are still high, maybe, we will see the reduction of fees later on. but the market is showing very positive movement, not only eth, but btc - as we are above 42k level again. for most of us, this hard fork should lower the fees in eth platform. it may take some time before we see it working.

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You know what’s crazy about ETH 2.0, NEAR has already done everything that ETH 2.0 promises to do. Now obviously ETH is here to stay and ETH 2.0 is going to be huge but on the other side of that it’s crazy that NEAR, not a very mainstream project has already done what ETH, the second biggest project has been promising to do. It just shows how there are so many coins that will blow up, they just have to be found.

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If the update can bring a new thing for ethereum in lowering the fee, it will make the investors who already move from ethereum back to use ethereum or invest more in ethereum. In this way, that can lift the price to increase because the demand from the investor will be bigger but I do not think that will happen so soon because the investor will see what will happen with the latest update.

The market position will gives ethereum a stronger position to lead the altcoin and still behind bitcoin and maybe BNB will lose the competition for a while until BNB can announce the next update. But ethereum can still defend its position in the market.

so98nn

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Quote from: BIN-BIN on August 05, 2021, 09:44:04 AM

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

Yeah, the London Hard Fork with Ethereum Improvement Proposal (EIP) 1559 will be taking the whole rewarding system to another level. It's good to know that they are thinking about the miners in some other ways to reward but its possible that many of them will be very very sad.

Specially those who had invested in the ASICS equipment as they won't be able to mine ETC or RVN which is the next preferred coin after ETH changes to the PoW.

There is amazing article about the OP, I think you should read it here: What Will Happen to Ethereum Miners After ETH 2.0?

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Quote from: goolesby on August 06, 2021, 01:59:23 AM

EIP-1559 aims to reduce the volatility of Ethereum fees by introducing a mechanism to eliminate some of those transaction fees, which should slow down token issuance. The impact on the price of Ethereum could be similar to a Bitcoin halving event, where adjustments cut the supply of bitcoin and push its price to record highs. There are a lot of numbers floating around in the market about the potential impact that has a halving magnitude with Bitcoin, they are all pretty positive drivers that I think have seen a pretty strong revaluation.

The more transactions are carried out on the Ethereum network, the more ETH coins will be burned. Over the past day, more than 4 thousand coins were burned. And when the number of coins burned becomes large, this will necessarily lead to a shortage and, as a result, to a further increase in the price. Here you can see how much ether was burned in the last hour and for the entire period. https://ethburned.info/

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