My opinion on Ethereum 2.0 | Bitcointalksearch.org

poodle63

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Quote from: Flowzer on June 27, 2021, 04:59:28 PM

Quote from: J117 on June 27, 2021, 12:23:11 PM

The negative of PoS is (in my opinion) the freeze of the yours ETH for validate a block, but maybe staking pool could resolve this problem?

Even you stake it by the pool, its impossible to unlock it as you wish, theres must be locking period before you able to unstake it.
Its a consequence that you need to pay for joining the stake.

Right and most of staking for becoming validators works like that because by being a validator, we could also be penalized if we break rules of being ETH validator
so the blockchain could run more efficiently, if OP want to stake but could freely withdraw the money then it's better to stake in yield farming because some of them
offers that capability but being validator, there's this responsibility that he needs to take, like keeping the node alive 24/7 ad rarely down, etc.

SirLancelot

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What I am seriously excited about is the fact that gas fee could actually get better dynamic after this, because in the other method that we have right now the miners had too much control over ethereum and that was always a risk, whereas with this method we are talking about a bit more dynamic where it changes a lot more volatile depending on the congestion, like it could still reach to 40 bucks one day, but it could go there for one day and come back to 1 dollar then go to 10 then to 3 then to 20 so forth so forth very quickly, which is awesome because it means you could just wait, instead of rush things.

Nowadays that is not like that, when something is high, it is just high and takes months before we can eradicate all the congestion in one sitting. Let's hope that it is something awesome for all of crypto because we all (even non-eth coins) would profit from something good in crypto.

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Quote from: J117 on June 27, 2021, 12:23:11 PM

Hi guys,

Some days ago, I listened a podcast on ETH 2.0. Premised that I know ETH 2.0 and the new system PoS, but the podcaster sayied that "The Ethereum 2.0's PoS system risks creating a staking problems. Because only those who have at least 32 ETH will be able to validate the blocks". So, I'm thinking at this phrase. Why? The PoS minimum 32 isn't high, We're talking about around 60000€ like investment. The mining of ETH is more expensive. I think that today We have almost the monopoly of mining for BTC and Ethereum. The activity of mining with PoW is expensive and there's the discussion of the sustainable energy. Another point in favor of the PoS system is the passive interest. Sure, I know that It's a variable the interest because the price can up or down faster compared a speculative asset. Another point is the GPU market. I think that the new system PoS could avoid a new speculative for the GPU and a chip shortage. The negative of PoS is (in my opinion) the freeze of the yours ETH for validate a block, but maybe staking pool could resolve this problem?

Let me know

Ethereum 2.0 strives to make the system as decentralized as possible, so now it has the maximum number of validators in comparison with competitors.
https://stakers.info/
Pos mining requires the user to create his own node, or declare his coins to another service that will build the node.
For some reason, pos mining is called staking, but this is not true.
In pos mining, the user needs, in addition to staking, to do the work that the node does on the network.
And in DeFi projects, the user only needs to block some of the tokens in order to receive other tokens. No useful work is being done, which is called staking.

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Quote from: J117 on June 27, 2021, 12:23:11 PM

Hi guys,

Some days ago, I listened a podcast on ETH 2.0. Premised that I know ETH 2.0 and the new system PoS, but the podcaster sayied that "The Ethereum 2.0's PoS system risks creating a staking problems. Because only those who have at least 32 ETH will be able to validate the blocks". So, I'm thinking at this phrase. Why? The PoS minimum 32 isn't high, We're talking about around 60000€ like investment. The mining of ETH is more expensive. I think that today We have almost the monopoly of mining for BTC and Ethereum. The activity of mining with PoW is expensive and there's the discussion of the sustainable energy. Another point in favor of the PoS system is the passive interest. Sure, I know that It's a variable the interest because the price can up or down faster compared a speculative asset. Another point is the GPU market. I think that the new system PoS could avoid a new speculative for the GPU and a chip shortage. The negative of PoS is (in my opinion) the freeze of the yours ETH for validate a block, but maybe staking pool could resolve this problem?

Let me know

Everything here was maybe's and there's no concrete statement for ethereum 2.0, because speculations was becoming too exaggerating. If it really created a lots of staking problems then why the network remains stronger, despite of those accusations? First of all, let's verify all those concerns prior coming to a final conclusions and nobody wants to regret until it's proven right?

semobo

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If you did 4 or 5 years back then you will be rich now but today the prices of GPUs are actually doubled or tripled due to the increase in demand for it along with mining difficulties are also increasing so mining now is not a good investment idea. Then ethereum is moving to PoS especially due to the scalability issue so new implementation will help the fee to stay low even when the transactions are increasing.

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You can always join validator pool where they gather the amounts of ETH staked from many individuals, so basically the saying of someone need to have 32ETH to become a validator is invalid,
and POS in a nutshell is just making the blockchain simpler in terms of being validator and less energy consumption at the expense of security, there's many discussion about the security factor that holds back many old coins from switching to PoS.
Freezing of ETH is unavoidable unless the pool could offer some kind of contract that allows anyone to cash out like anytime with some charged fee, that way it's sustainable for the pool provider.

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Quote from: J117 on June 27, 2021, 12:23:11 PM

The negative of PoS is (in my opinion) the freeze of the yours ETH for validate a block, but maybe staking pool could resolve this problem?

IMO this already implemented to make sure the stakers will not unstake and stake their token again anytime because this can affect the stability of the network once ethereum will go all in the POS system.
I guess anyone knows this if some address got slashed caused by their performance are so bad. The locked period being created to keep the network validators became stable and it will also make the stakers have a commitment to the network

Chuky92

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I believe as time goes on, we will get a clearer picture of the whole thing and how it will play out to suit all users. Of course, the amount needed to stake is kinda high when taking into account the present price of ETH. However, there are companies, organisations and platforms opening up staking pools in order to give everyone a fair chance, although there are still limitations.
Also, in my own opinion, the Ethereum blockchain has come a long way with a good number of projects on it, and I believe the team seeing how everything is playing out and what the future holds, will do everything within their power to make sure they succeed in making the blockchain more sustainable, secure, scalable and efficient.
The Ethereum 2.0 will bring a whole lot to the Ethereum blockchain, and this is why it is highly anticipated, we should also remember that Ethereum platform is the best when it comes to smart contracts and DApps, and being that means sooner than later everyone will understand what the team are working on and how they can get involved.

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With staking if you want to do it alone you must be a whale to stake 32 Eth, and it's such a huge amount for an average investor, there will be a lot of staking pool that will be created when they launch the Ethereum features, with the current price and it's potential in the market many will go for staking even if locking their coins for a period of time.

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There really are pools that will provide opportunity for those people that has small amount of Ethereum. You can join them later if they're already in operations or I think they already are in the test phase.
We'll see how much actually is going to be the amount of potential profit in staking and I'm not that excited anymore even it shows up.

Flowzer

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Quote from: J117 on June 27, 2021, 12:23:11 PM

The negative of PoS is (in my opinion) the freeze of the yours ETH for validate a block, but maybe staking pool could resolve this problem?

Even you stake it by the pool, its impossible to unlock it as you wish, theres must be locking period before you able to unstake it.
Its a consequence that you need to pay for joining the stake.

7788bitcoin

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Asides the staking with 32 Eth, you will also need to stay regularly online, so they provide opportunities to invest through some verified companies that will make the 32ETH and stay online as well. Have never read any where the mode of reward for the stake, how much should I expect after a period?

Right now the Annual percentage rate is around 6.5% and it will change according to the increase in the number of validators and right now there are around 177,338 validators and 5,841,030 Ethereum locked up. The most challenging part is the transformation from POW to POS and the chances for network messing up completely is possible and lets see how long they will take for the complete migration.

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Quote from: J117 on June 27, 2021, 12:23:11 PM

Why? The PoS minimum 32 isn't high, We're talking about around 60000€ like investment.

There are a lot of staking pools that were created as soon as ETH 2.0 was announced and hence even small holders are able to enter into staking pools without much technical knowledge. Further, yes, the move towards ETH 2.0 promotes a sustainable growth and can only be described as an improvement over the Bitcoin in terms of mining.

Also, the cost of transaction on ETH 2.0 will make it a very attractive blockchain.

Jackl87

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Quote from: J117 on June 27, 2021, 12:23:11 PM

Hi guys,

Some days ago, I listened a podcast on ETH 2.0. Premised that I know ETH 2.0 and the new system PoS, but the podcaster sayied that "The Ethereum 2.0's PoS system risks creating a staking problems. Because only those who have at least 32 ETH will be able to validate the blocks". So, I'm thinking at this phrase. Why? The PoS minimum 32 isn't high, We're talking about around 60000€ like investment. The mining of ETH is more expensive. I think that today We have almost the monopoly of mining for BTC and Ethereum. The activity of mining with PoW is expensive and there's the discussion of the sustainable energy. Another point in favor of the PoS system is the passive interest. Sure, I know that It's a variable the interest because the price can up or down faster compared a speculative asset. Another point is the GPU market. I think that the new system PoS could avoid a new speculative for the GPU and a chip shortage. The negative of PoS is (in my opinion) the freeze of the yours ETH for validate a block, but maybe staking pool could resolve this problem?

Let me know

I think that a 60000€ investment is a big pretty amount of money for a "normal" person. I think the podcaster meant that it is not good for the ETH network that you need at least 32 Ethereum to run a node this means that most normal users can't run their own nodes which means that there won't be too much ETH nodes running. As far as i know it is still the statement "the more nodes in a network the better" is still true in terms of decentralization and also stability so i can understand the opinion of the podcaster. Small Ethereum holders can still send their tokens to a staking pool to receive a share of the PoS rewards, but if everyone sends his tokens to the same pool then we have a big centralization problem.

hosseinimr93

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how much should I expect after a period?

The reward you get is a function of the ratio of the number of ETHs staked by you to total number of ETHs staked by all people.
In the case you don't stake solo and join a staking pool, you should consider the staking pool fee too.

Your reward = Total reward * (Number of coins staked by you / Total number of coins staked by all people)

Depending on how many coins have been staked, the total reward varies from 4% to 61% of the total supply per year.
Given the number of coins staked so far, the total reward is now about 7% of the total supply per year.

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Community pools and other companies provided pool are fine as we get rewards for almost zero maintenance fees. But we don't have any voting rights and we would be giving voting rights to others through our money. Keeping node live is not of much problem as I guess cloud platforms like digital ocean would happily host it for you. So, 32 eth limit which was create when the eth price were much lower seems a bit high at the moment.

hosseinimr93

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I don't have much information about Ethereum 2 and the staking process, but I know that there are already some staking pools. You can join them and stake with less than 32 Ethereum.

This is same as mining pools. Since people can't have a significant percentage of the total hashrate, they can't solo mine and have to join a mining pool.
When it comes to staking, people have to join staking pools.

J117

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Hi guys,

Some days ago, I listened a podcast on ETH 2.0. Premised that I know ETH 2.0 and the new system PoS, but the podcaster sayied that "The Ethereum 2.0's PoS system risks creating a staking problems. Because only those who have at least 32 ETH will be able to validate the blocks". So, I'm thinking at this phrase. Why? The PoS minimum 32 isn't high, We're talking about around 60000€ like investment. The mining of ETH is more expensive. I think that today We have almost the monopoly of mining for BTC and Ethereum. The activity of mining with PoW is expensive and there's the discussion of the sustainable energy. Another point in favor of the PoS system is the passive interest. Sure, I know that It's a variable the interest because the price can up or down faster compared a speculative asset. Another point is the GPU market. I think that the new system PoS could avoid a new speculative for the GPU and a chip shortage. The negative of PoS is (in my opinion) the freeze of the yours ETH for validate a block, but maybe staking pool could resolve this problem?

Let me know

Topic: My opinion on Ethereum 2.0 (Read 157 times)