Questions about Ethereum and ETH2.0 | Bitcointalksearch.org

zasad@

legendary

Activity: 1932

Merit: 4602

Quote from: Balladtony77 on December 03, 2020, 10:44:32 AM

Am I missing some information about eth2.0 or what? I expected eth gas fee to have go lower than it used to be but right now it's still the same old high gas fee, is ETH2.0 going to actually fix high gas transaction fee or there is something I'm missing out?

Again why is Ethereum start co-existing with ETH2.0? I can see that people are still mining Ethereum and pools are still running too, why is that? Is there going to be a chain split or what?

It is better to discuss these issues in the main ANN
https://bitcointalksearch.org/topic/ann-ethereum-welcome-to-the-beginning-428589

The Ethereum 2.0 network is being launched to address scaling and bandwidth issues, but it's too early to talk about it yet. Phase 0 is just the beginning and will not affect the Ethereum 1.0 network.
Most people don't understand what Ethereum is. This is the only truly decentralized network. Its competitors have huge problems with decentralization, because many nodes belong to developers and investors (TRON, EOC, etc.)

Tash

sr. member

Activity: 1190

Merit: 305

Pro financial, medical liberty

Quote from: Balladtony77 on December 03, 2020, 10:44:32 AM

Am I missing some information about eth2.0 or what? I expected eth gas fee to have go lower than it used to be but right now it's still the same old high gas fee, is ETH2.0 going to actually fix high gas transaction fee or there is something I'm missing out?

Again why is Ethereum start co-existing with ETH2.0? I can see that people are still mining Ethereum and pools are still running too, why is that? Is there going to be a chain split or what?

Unfortunatly it is not a chain split, (hardfork) that gives holders coins from both chain.
Eth2 is a new PoS chain https://beaconcha.in/block/0
the original PoW https://blockchair.com/ethereum/block/0 Eth will always exist, (as long at least 1 miner mines it)

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: Balladtony77 on December 03, 2020, 10:44:32 AM

Am I missing some information about eth2.0 or what? I expected eth gas fee to have go lower than it used to be but right now it's still the same old high gas fee, is ETH2.0 going to actually fix high gas transaction fee or there is something I'm missing out?

Again why is Ethereum start co-existing with ETH2.0? I can see that people are still mining Ethereum and pools are still running too, why is that? Is there going to be a chain split or what?

Even though ethereum 2.0 already launched still it will take lot of time to get complete roll over to 2.0 from current network so You can still use ethereum as it is and miners can still mine but don't know how long it will take for the process to get completed.

Psynthax

hero member

Activity: 2366

Merit: 504

Implementing ETH 2.0 is not as easy as flipping burgers. It takes time and there's no guarantee that the high gas will be fixed aswell(though they said gonna increase network bandwith by sharding). However, right now as I'm posting my post here the gas fee already decreased compared to it was before. I could say that we got the improvement even before ETH 2.0 fully implemented. You can foresee the future that ETH 2.0 gonna resolve our gas problem though if another wave of massive traffic comes again with even larger scale it might be clogged again.

amishmanish

legendary

Activity: 1904

Merit: 1159

Right now, all that they have done is a sort of "vote" for a PoS system. If there are enough people with 31 ETH each to pool a total of over 600K, they assume that there is support to launch the PoS version. In reality, it would obviously not be individuals with 31 ETH but singular entities who use multiple addresses for this. Use some cloud service and you don't even have to worry about keeping it online.

The "plan" is to deploy further improvements like "sharding" to support sub-networks. Do not accept any change to fees this soon. I am still not convinced on why they are moving to PoS at all. I have asked around but find no suitable answers.

MoreStamps.Global

copper member

Activity: 98

Merit: 0

Stobox: Securities Tokenization

Yes, you are missing entire ETH2.0 thing except the name "ETH2.0". The changes you are expecting is supposed to be implemented fully by 2 years. It can take probably more.

Minute-Association-2

newbie

Activity: 1

Merit: 0

If you're worried about gas fees or slashing that can happen by staking ETH, consider using alternative services like StakeHound. They stake your ETH for you and you don't have to worry about lock-ups or minimum deposits.

I recommend reading their guide and checking their services out.
https://stakehound.com/blog-post/ethereum-2-0-staking-guide/

BDBitcoinExpart

member

Activity: 112

Merit: 10

1 December eth 2.0 is well launched. But at the rate at which ETH is being charged gas fee, it is becoming difficult to use ETH blockchain. Even after the launch of ETH 2.0, this kind of gas fee is not going to think. So what are the benefits of upgrade.

Argoo

sr. member

Activity: 2352

Merit: 245

Quote from: Balladtony77 on December 03, 2020, 10:44:32 AM

Am I missing some information about eth2.0 or what? I expected eth gas fee to have go lower than it used to be but right now it's still the same old high gas fee, is ETH2.0 going to actually fix high gas transaction fee or there is something I'm missing out?

Again why is Ethereum start co-existing with ETH2.0? I can see that people are still mining Ethereum and pools are still running too, why is that? Is there going to be a chain split or what?

Ethereum 2.0 was successfully launched on December 1st. The improvements have three stages and they are designed to be implemented over two years. Therefore, from the first day of the Ethereum 2.0 launch, this coin cannot change dramatically for the better. Everything will happen gradually. The bandwidth of the ethereum network will also gradually increase. The old and new ethereum networks will not conflict with each other. So far, of course, very little information can be found about this. We will receive it as we implement these improvements.

Balladtony77

member

Activity: 378

Merit: 15

Am I missing some information about eth2.0 or what? I expected eth gas fee to have go lower than it used to be but right now it's still the same old high gas fee, is ETH2.0 going to actually fix high gas transaction fee or there is something I'm missing out?

Again why is Ethereum start co-existing with ETH2.0? I can see that people are still mining Ethereum and pools are still running too, why is that? Is there going to be a chain split or what?

Topic: Questions about Ethereum and ETH2.0 (Read 137 times)