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Ethereum 2.0 launches

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Re: Ethereum 2.0 launches

#11

Post by londons_explore »

Tepix wrote: post #7
shireboy wrote: post #3

Can someone ELI5 for current ETH holders? Will it split like Etherium Classic?

No, it's not splitting. Check out https://ethereum.org/en/eth2/ "What is Eth2? Eth2 refers to a set of interconnected upgrades that will make Ethereum more scalable, more secure, and more sustainable. These upgrades are being built by multiple teams from across the Ethereum ecosystem."

It's an entirely new coin. Holders of the existing coin don't get access to the new one unless they buy them. The cynic in me says this is just an opportunity to devalue existing ethereum currencies by making a bunch more...

Re: Ethereum 2.0 launches

#12

Post by kolinko »

noneeeed wrote: post #6

Can anyone give a TLDR of what is significant about Ethereum 2.0 for those of us who don't follow this stuff much? As blockchain tech goes, Ethereum always seemed the most interesting.

It is powered by proof of stake, which means no asic miners, and possibly quicker blocks.

A new virtual machine for smart contracts (EWASM instead of EVM) giving better contract analysis options, and possibly higher sync speeds due to optimisations.

Also, sharding - so multiple jndependent blockchains, that should fix the scalability.

If I’m not mistaken, this release is not yet a full blown new chain, but just a partially functional one, designed to test stabiloty and safety.

Disclaimer - I’m a bit out of loop, so I meay be slightly wrong somewhere.

Re: Ethereum 2.0 launches

#13

Post by jules-jules »

noneeeed wrote: post #6

Can anyone give a TLDR of what is significant about Ethereum 2.0 for those of us who don't follow this stuff much? As blockchain tech goes, Ethereum always seemed the most interesting.

You can check out the current roadmap here

https://ethereum.org/en/eth2/#roadmap

Re: Ethereum 2.0 launches

#14

Post by deif »

londons_explore wrote: post #11
Tepix wrote: post #7

Earlier quoted context omitted.

No, it's not splitting. Check out https://ethereum.org/en/eth2/ "What is Eth2? Eth2 refers to a set of interconnected upgrades that will make Ethereum more scalable, more secure, and more sustainable. These upgrades are being built by multiple teams from across the Ethereum ecosystem."

It's an entirely new coin. Holders of the existing coin don't get access to the new one unless they buy them. The cynic in me says this is just an opportunity to devalue existing ethereum currencies by making a bunch more...

Well that is completely wrong and you clearly haven't read any documentation on the network upgrade.

Re: Ethereum 2.0 launches

#16

Post by gmueckl »

londons_explore wrote: post #11
Tepix wrote: post #7

Earlier quoted context omitted.

No, it's not splitting. Check out https://ethereum.org/en/eth2/ "What is Eth2? Eth2 refers to a set of interconnected upgrades that will make Ethereum more scalable, more secure, and more sustainable. These upgrades are being built by multiple teams from across the Ethereum ecosystem."

It's an entirely new coin. Holders of the existing coin don't get access to the new one unless they buy them. The cynic in me says this is just an opportunity to devalue existing ethereum currencies by making a bunch more...

So instead of the promise of a stable, ever-deflating currency value that was made by bitcoin proponents we get unbounded inflation instead? Nice!

Edit: might not be the case for Eth2, but it still seems to ring true for the cryptocoin ecosystem in general: as soon as the value of one currency rises enough, alternatives will be created.

Re: Ethereum 2.0 launches

#17

Post by naringas »

One thing I haven't been able to figure out about proof of stake is this:

if one entity somehow manages to control over half to the total ETH tokens, does this enable an attack analogous to bitcoin's 51% problem (which happens when one miner controls over half of the network's raw cpu power)?

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