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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)?
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)?
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)?
Yes. But thats the point of PoS. Why would someone who owns >50% of something want to destroy it? Literally hurting yourself more just to hurt others a lesser amount.
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)?
Yes. But thats the point of PoS. Why would someone who owns >50% of something want to destroy it? Literally hurting yourself more just to hurt others a lesser amount.
Can someone ELI5 for current ETH holders? Will it split like Etherium Classic?
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)?
Yes. But thats the point of PoS. Why would someone who owns >50% of something want to destroy it? Literally hurting yourself more just to hurt others a lesser amount.
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)?
Yes. But thats the point of PoS. Why would someone who owns >50% of something want to destroy it? Literally hurting yourself more just to hurt others a lesser amount.
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 par…
The roadmap has changed for the phases after this launch so that Eth1 contracts and the Eth1 chain can run on Eth2 so that the past years of Eth1 development are not thrown away.
Reading on the roadmap: https://ethereum-magicians.org/t/a-rollup-centric-ethereum-r...
Disclaimer, this roadmap is valid as of today Dec 1st 2020 but it might have change a couple of months from now.