Will 2022 be the year of ETH 2.0? - page 2.

LUCKMCFLY

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Broadly speaking, we need to know that Ethereum 2.0, also known as ETH2 or “Serenity”, is an upgrade to the Ethereum blockchain. This upgrade aims to increase the speed, efficiency, and scalability of the Ethereum network so that it can process more transactions and reduce congestion.

Ethereum Altair Upgrade is one of several scheduled crypto asset upgrades, Ethereum 2.0 is launched in several phases, 1 december 2020, the first phase of ethereum 2.0 (phase 0) is confirmed to launch, after 586,848 ETH is accumulated in the deposit contract as a minimum requirement to enter the main net stage .
One of the advantages of this Ehereum Altair upgrade is that it reduces Ethereum power consumption by up to 99.9 percent.

hopefully it will become a reality about eth2.0 soon, because it will obviously change a lot of interests that can be implemented and of course there will be many who will benefit, hopefully this will not continue to be a discussion and become evidence. don't be like Charles Hoskinson who is also the co-founder of Ethereum who eventually created Cardano (ADA) because eth2.0 keeps getting delayed.

For me, what I am most expecting from the update is that the fees will decrease significantly, congestion is a reality, I know that the ETH network is the most used and trusted by many, but the BSC network is already there, and for now I know that many want to invest in the metaverse and that the most used networks will be Polygon and Solana, so I think rather that the ETH2.0 update has taken a long time to be released and this translates into a lot of money being spent has stopped winning.

FairUser

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I think it will depend on many external things more than just the update being given. The 2022 situation is evolving in an unpredictable way, there are many factors on standby and when it has not happened we are just rambling with this point of view. If the 2022 market is not good then the whole argument for a good future ETH will be difficult to develop. And conversely, the potential from ETH has always been the same and until now its position in altcoins is not competing with other platforms, I myself am holding ETH since it was only about $90 and I really don't care much how it turns out

, it's true that I no longer think it needs to be any better.

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Quote from: tokeweed on February 16, 2022, 02:26:48 PM

I think if ‘noobs’ got themselves into using ETH, they could learn how to use L2 just by spending an hour with it. It’s really easy. It uses the same wallets as if you’re at L1.

And I wouldn’t say that the number of projects running on L2 are ‘quite small’. There are lots of projects that have gone either multi chain or are running in L1 and L2 simultaneously. I’m also not saying that ETH shouldn’t do the switch and that it should just depend totally on L2’s for scaling. I’m just saying it’s a good compromise while the merge to the beacon chain hasn’t happened yet.

The only problem with L2 is that it requires users to pay a gas fee on the main Ethereum blockchain. So even while TXs may seem to be dirt-cheap or free at times, you'll still end up paying a high gas fee to convert your ETH to the L2's token. I had that experience when using Polygon's bridge to convert ETH to MATIC just to enjoy Polygon's benefits. It's the same with Bitcoin's Lightning Network where you'd need to pay an on-chain fee to open and/or close a channel (even though TXs are nearly free after that). By scaling the main chain itself, we could avoid this problem.

Luckily, there are other alternative chains that are much easier and cheaper to use than L2 scaling solutions. As long as people have the option to pay less fees, nothing else matters. Fingers crossed the ETH PoS upgrade will become a reality this year. Just my thoughts Grin

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Quote from: Desscount on February 03, 2022, 03:45:08 PM

~
it looks like Ethereum 2.0 will experience delays, because the topic of Ethereum 2.0 has been around since last year,
I still hope that Ethereum can cut their GAS, because GAS or Gwei Ethereum are still very expensive,
I have a few dollars and I can't withdraw because of the high fees so expensive,

If they could solve easily about the higher gas fees, then they would have already done that long back rather than burning the end users fees. Many who staked coins in the ETH platform for the long term are not able to withdraw them because of the higher fees involved with them and so is the reason all the projects that started recently uses multiple chains as they know that it is not sustainable to continue on with the project with higher fees.

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Quote from: soureden on February 07, 2022, 03:14:41 PM

ETH leveled a very important break point and climbed above $3100. My expectation for ETH is $4000 level by the end of this week.

I think this thread is not a prediction post about the price of Ethereum instead the 2.0 version to take effect , but of course Ethereum had already managed to reached almost 5k in the last ATH so i think it is easily be broken the 4,000 level of the movement continue this week.

Quote from: Renampun on February 05, 2022, 11:19:22 AM

I'm actually sure that eth 2.0 will not appear in 2022, Vitalik will definitely delay it again... Cheesy

news about the emergence of eth 2.0 has appeared since the beginning of 2021 but until now it is still just an issue, I am not an ethreum fan, so I don't really care about the latest updates about eth.

How could you be so sure? have you talked to Vitalik recently? because if not then never mention the word SURE because none of that would matter now.

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Quote from: Abiky on February 03, 2022, 09:15:16 AM

Quote from: tokeweed on February 01, 2022, 11:38:54 AM

Then I guess being the first mover is enough to be on top. I mean yes, the fees are high but the high fees is also a metric for high usage. As long as they’re are high we know that interest in using the chain is def high too. The moment the fees start going low, it should be a time when ETH maxis should start to get worried.

And L2’s is what ETH has for now to pay lower fees. It’s better than nothing. I’ve been doing swaps in Arbitrum at Sushi in Metamask. It’s so easy.

L2 may be good, but not everyone knows about it (especially noobs). The first thing newcomers into crypto come up with is the main ETH blockchain. Not a separate scaling solution. Besides, the number of projects using L2 is quite small compared to those on the main chain (if I'm not mistaken). Scaling ETH itself will be the definite solution for bringing mass adoption into the cryptocurrency. ETH developers should focus on remediating the issue within the short term, than just keep stalling with the upcoming PoS upgrade. The general public is more focused on convenience than anything else, so they'll choose the chain with the lowest TX fees and fastest speeds available on the market.

At least, Ethereum's decentralization is untouched. How will it fare after the PoS upgrade, is beyond me. As long as there's a community backing the project every step of the way, nothing else matters. Just my thoughts Grin

I think if ‘noobs’ got themselves into using ETH, they could learn how to use L2 just by spending an hour with it. It’s really easy. It uses the same wallets as if you’re at L1.

And I wouldn’t say that the number of projects running on L2 are ‘quite small’. There are lots of projects that have gone either multi chain or are running in L1 and L2 simultaneously. I’m also not saying that ETH shouldn’t do the switch and that it should just depend totally on L2’s for scaling. I’m just saying it’s a good compromise while the merge to the beacon chain hasn’t happened yet.

Abiky

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Quote from: jaberwock on February 07, 2022, 04:26:47 PM

I do not really care what they name it, I just want to see it moved to staking so that miners wouldn't hurt it as much as they are doing right now. It is not even about all those miners selling the mined ETH, that could happen and it is fine, the real problem is that they are spiking up the price because people need it and blockchain gets clogged each time. Any solution that makes it cheaper would be a great solution and we would be getting rid of all these insane prices.

Hopefully it will not take too long, they can name it anything they like to and I wouldn't really care, as long as it works properly. We also have to remember that billions of dollars in ETH is spent everyday, meaning there are a lot of transactions, all of which are high priced right now, all of that would be in our pockets which could make people prefer ETH a lot more.

What's important is that ETH scales as much as possible to be able to experience a massive reduction in gas fees. Only then, ETH would be on a road towards widespread adoption worldwide. The fact that there are many smart contract platforms on the market, tells us that people got tired about ETH's astronomical fees. To make matters worse, developers keep delaying the PoS upgrade indicating no intention to scale the ETH blockchain immediately. Imagine how angry people will be (and investors in general) if the upgrade doesn't come up by 2022. Slowly but surely, ETH will lose traction until competitors take the lead on the market.

Of course, ETH has first-mover advantage. But that's not a guarantee it will retain its position on the market. Everything will depend on how high the demand for ETH is. Remember, whales are not the only ones that matter. Everyday people matter too. If the average person moves away from ETH, then there would be no playing field for whales. There needs to be a balance between scalability and decentralization to keep things afloat. At least, gas fees on the ETH blockchain won't stay high forever. Just my thoughts Grin

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Quote from: mm2543363580 on February 07, 2022, 02:26:23 PM

There are some insane news about Eth 2.0 that its renamed,
The developers of the Ethereum protocol started to move away from the Ethereum 2.0 name and abbreviations such as Eth1 or Eth2 in August 2021. The legacy code branch was officially renamed "execution," while the newfangled Eth2 protocol moved into a folder called "consensus."

My interest was only in PoS algorithm which was scheduled with Eth 2.0 but it looks like PoS will also be delayed also. Ethrreum has a huge community of developers don't know why they are delaying it too much.

I do not really care what they name it, I just want to see it moved to staking so that miners wouldn't hurt it as much as they are doing right now. It is not even about all those miners selling the mined ETH, that could happen and it is fine, the real problem is that they are spiking up the price because people need it and blockchain gets clogged each time. Any solution that makes it cheaper would be a great solution and we would be getting rid of all these insane prices.

Hopefully it will not take too long, they can name it anything they like to and I wouldn't really care, as long as it works properly. We also have to remember that billions of dollars in ETH is spent everyday, meaning there are a lot of transactions, all of which are high priced right now, all of that would be in our pockets which could make people prefer ETH a lot more.

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ETH leveled a very important break point and climbed above $3100. My expectation for ETH is $4000 level by the end of this week.

Cryptock

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Quote from: Renampun on February 05, 2022, 11:19:22 AM

I'm actually sure that eth 2.0 will not appear in 2022, Vitalik will definitely delay it again... Cheesy

news about the emergence of eth 2.0 has appeared since the beginning of 2021 but until now it is still just an issue, I am not an ethreum fan, so I don't really care about the latest updates about eth.

Because you are not an Ethereum fan, you have such negative opinion.
The fact that Ethereum 2.0 will not be implemented in 2021 has been known for a long time. I thought that Vitalik would be able to make it in early 2022, but this is not happening. If a slight delay gives us a guarantee that the fork will be successful, then I have no problem with it. Anyway, I am sure that the delay will not be large and ETH 2.0 will make a revolution among cryptocurrencies in 2022.

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Quote from: Renampun on February 05, 2022, 11:19:22 AM

I'm actually sure that eth 2.0 will not appear in 2022, Vitalik will definitely delay it again... Cheesy

news about the emergence of eth 2.0 has appeared since the beginning of 2021 but until now it is still just an issue, I am not an ethreum fan, so I don't really care about the latest updates about eth.

There are some insane news about Eth 2.0 that its renamed,
The developers of the Ethereum protocol started to move away from the Ethereum 2.0 name and abbreviations such as Eth1 or Eth2 in August 2021. The legacy code branch was officially renamed "execution," while the newfangled Eth2 protocol moved into a folder called "consensus."

My interest was only in PoS algorithm which was scheduled with Eth 2.0 but it looks like PoS will also be delayed also. Ethrreum has a huge community of developers don't know why they are delaying it too much.

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Quote from: Kasabus on February 03, 2022, 07:27:26 PM

We have been hearing this news since last year but there is still no feedbacks from the developers team as to when this matter will be address. Hopefully this year, but still no guarantees. I think the best solution is this: "To reduce the cost of your total gas fee through a lower base fee, you could make your transaction on the network at a time when fewer people are using the blockchain. This is because, in a way, base fees are a representation of demand for using Ethereum." source: https://www.google.com/search?q=how+to+avoid+ethereum+high+gas+fees&oq=how+to+avoid+ethereum+high+gas+fees&aqs=chrome

That goes for all newbies out there.

I just hope devs make "Ethereum 2.0" a reality before the year end, because people have been waiting for so long for gas fees to decline. It's this reason why we've seen new smart contract platforms gain traction at a very fast pace. The good-old days where ETH transactions were dirt cheap and took 14 seconds to complete are long gone. Layer-Two scaling solutions are great, but not many dApps built on ETH support them. If only ETH devs introduced a short-term remedy for the gas fees, the ETH blockchain would've experienced a huge boost in mainstream adoption already. I guess if it "ain't broke, don't fix it". Decentralization is more important than scaling, so I wouldn't mind waiting as long as the upgrade is done right. Just my thoughts Grin

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I'm actually sure that eth 2.0 will not appear in 2022, Vitalik will definitely delay it again... Cheesy

news about the emergence of eth 2.0 has appeared since the beginning of 2021 but until now it is still just an issue, I am not an ethreum fan, so I don't really care about the latest updates about eth.

Congyang

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Quote from: Vaculin on February 03, 2022, 02:06:22 PM

Quote from: Congyang on February 03, 2022, 11:46:24 AM

actually what makes the difference if they actually created ETH 3.0 because their main problem is still not resolved properly.
I know their connoisseurs won't be too affected by anything but as you said, gas problem continues to be their natural problem and can't be solved till now.
I personally started to reduce my activities in ETH because of the cost of gas and started switching to other competitors who did offer something cheaper.
I still like them but their gas makes me unable to do much there

We cannot blame if people will switch into ethereum's top competitors as ethereum gas fees has always been higher that in the long run only rich people can afford. And i don't think Vitalik's team is not aware of this. They are now working on this and the effect will be mostly seen once ETH 2.0 will be launched soon. However, i've come to this statement from my depth in research and got shocked of what i learned that ethereum high gas fees are indeed a good sign. Here's the links https://moralis.io/ethereum-gas-fees-the-ultimate-2022-guide/

Because indeed for most people, especially small traders, gas is something that is difficult to handle if they don't go down and it will be very difficult for some people to survive here.
Actually if I say the vitalik team didn't realize I feel more like they are not targeting a small market and are at a bigger level and indeed even if we say that this is a mistake but what they made could be one of their concepts to explore the market regardless of right or wrong it was a decision they had already made.
Maybe this is a bit off the mark but I find it strange your ranking is already high here and yet you still provide links like this. you have to fix it soon

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Quote from: Abiky on January 18, 2022, 10:37:18 AM

There are rumors circulating around the web, that the ETH 2.0 upgrade will finalize this year. It would be a major upgrade on the ETH blockchain, after a long period of delays. The competition became much more intense ever since gas fees increased on the ETH blockchain. If the ETH 2.0 upgrade comes into fruition, then ETH's position on the market will solidify like never before. Depending on the impact, competing chains will experience less demand on the market.

Still, I'm having my doubts if ETH will upgrade to PoS this year due to the delay in ETH's difficulty bomb. How long will it take for mining on the ETH blockchain to come to an end is beyond me.

Do you think 2022 will be the year of ETH 2.0? If not, why? What will happen with ETH after the upgrade is successfully implemented? Will it mark the end of alternative smart contract platforms for good? Will ETH gas fees decline massively after the upgrade? Or will everything else remain the same? Your input will be greatly appreciated. Thanks.

Personally, I have been an Ethereum fan since 2017. As for the launch of ETH 2.0, the launch of the updated system would probably be the best event of this year, however, I have a suspicion that this may not happen this year 2022. The reason is that although the Ethereum network now has large commissions, this does not prevent many from launching their crypto projects on Ethereum, which means that ETH miners now have excellent income, and the price of ETH itself still shows excellent results. Probably the Ethereum team is not in a hurry to launch ETH 2.0, but this is just my opinion and it is possible that the launch will still take place as early as this 2022.

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Quote from: lalabotax on February 04, 2022, 05:52:04 AM

I think there is no big progress about ETH 2.0, I even suspect it is failed already. So, to expect ETH 2.0 gives a big role in 2022 is too much for me. We need to be more realistic about ETH 2.0 project, with no clear information about its current progress. I don't know what Vitalik plans with ETH 2.0, if he considers it is a vital part of the Ethereum network, he must try to finish it as soon as possible. Delaying the completion of ETH 2.0 makes me suspect he isn't very serious, he must hear people's complaints about ETH gas fees, right?

I think the same, I thought this is just a marketing strategy from the Etherum company to increase their value. There is still no significant progress for ETH 2.0. Sooner or later, ERC20 users will switch to other networks such as BEP20 and Matic with rational gas fees because Delaying update ETH 2.0

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I think there is no big progress about ETH 2.0, I even suspect it is failed already. So, to expect ETH 2.0 gives a big role in 2022 is too much for me. We need to be more realistic about ETH 2.0 project, with no clear information about its current progress. I don't know what Vitalik plans with ETH 2.0, if he considers it is a vital part of the Ethereum network, he must try to finish it as soon as possible. Delaying the completion of ETH 2.0 makes me suspect he isn't very serious, he must hear people's complaints about ETH gas fees, right?

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Quote from: Desscount on February 03, 2022, 03:45:08 PM

Quote from: saladin7000 on February 03, 2022, 02:42:59 PM

I don't know for sure whether ethereum 0.2 will be released in 2022, because there has been no official news from the ethereum developer, but I really hope if ethereum 0.2 is implemented soon, so that the cost of etherem gas can be handled immediately, because I think the fee ethereum is currently a scourge that is very detrimental to small traders, I'm afraid if this gas problem can hamper the growth of ethereum in the future.

it looks like Ethereum 2.0 will experience delays, because the topic of Ethereum 2.0 has been around since last year,
I still hope that Ethereum can cut their GAS, because GAS or Gwei Ethereum are still very expensive,
I have a few dollars and I can't withdraw because of the high fees so expensive,

We have been hearing this news since last year but there is still no feedbacks from the developers team as to when this matter will be address. Hopefully this year, but still no guarantees. I think the best solution is this: "To reduce the cost of your total gas fee through a lower base fee, you could make your transaction on the network at a time when fewer people are using the blockchain. This is because, in a way, base fees are a representation of demand for using Ethereum." source: https://www.google.com/search?q=how+to+avoid+ethereum+high+gas+fees&oq=how+to+avoid+ethereum+high+gas+fees&aqs=chrome

That goes for all newbies out there.

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Quote from: saladin7000 on February 03, 2022, 02:42:59 PM

I don't know for sure whether ethereum 0.2 will be released in 2022, because there has been no official news from the ethereum developer, but I really hope if ethereum 0.2 is implemented soon, so that the cost of etherem gas can be handled immediately, because I think the fee ethereum is currently a scourge that is very detrimental to small traders, I'm afraid if this gas problem can hamper the growth of ethereum in the future.

it looks like Ethereum 2.0 will experience delays, because the topic of Ethereum 2.0 has been around since last year,
I still hope that Ethereum can cut their GAS, because GAS or Gwei Ethereum are still very expensive,
I have a few dollars and I can't withdraw because of the high fees so expensive,

saladin7000

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I don't know for sure whether ethereum 0.2 will be released in 2022, because there has been no official news from the ethereum developer, but I really hope if ethereum 0.2 is implemented soon, so that the cost of etherem gas can be handled immediately, because I think the fee ethereum is currently a scourge that is very detrimental to small traders, I'm afraid if this gas problem can hamper the growth of ethereum in the future.

Topic: Will 2022 be the year of ETH 2.0? - page 2. (Read 782 times)