Is it still deflationary?
Wondering if I should invest in the coin itself (which makes sense for deflationary coins) or a company doing something with it (which makes sense for an inflationary coin)
Ethereum 2.0 launches
31–40 of 639 posts
Re: Ethereum 2.0 launches
#32Whoa, according to AllNodes, Expected ROI for Eth2 stakeholders is 16.6%, which easily beats out almost any other DeFi interest bearing account (typically ~10%)!
APR depends on total staked amount, and decreases as staked Eth increases. You can see the chart here: https://launchpad.ethereum.org
Now that the launch has succeeded, I will stake some of my Eth. As more people do that, APR will fall.
Re: Ethereum 2.0 launches
#33One 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)?
No. The required amount is greater than 2/3 (67%) not greater than 1/2 (51%) on PoS for Ethereum.
Also, see this tweet from Vitalik: https://twitter.com/VitalikButerin/status/130129808602782105...
So even if there was a successful first attack from some organised body that's all the time they get.
Re: Ethereum 2.0 launches
#34Earlier quoted context omitted.
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.
Unrealistic surely but, "Some just wants to watch the world burn"
Another aspect of PoS: it makes these attacks incredibly expensive. Currently staked value is over half a billion USD.
Re: Ethereum 2.0 launches
#35Can someone explain how block timing works in proof-of-stake systems? As I understand it, with proof-of-work the mining difficulty increases or decreases to maintain that each block is found in roughly the same amount of time. In proof-of-stake is there also a mechanism to regulate the time for each block to be added to the blockchain?
Re: Ethereum 2.0 launches
#36Can 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.
Beginning of switch from Proof of Work to Proof of Stake consensus, which will end the mining process for Ethereum and switch to securing the network by locking up funds, drastically reducing the amount of energy used to secure the network. As a side effect of the consensus change, the amount of transactions per second will scale massively. There is not universal agreement among blockchain enthusiasts that Proof of S…
any idea on the increase in transactions per second/month/some time period? The things that have stopped me from getting into btc/eth are:
- scaling issues (it can't be used as a currency if this isn't fixed) - power issues (would be nice if we didn't create a huge pointless energy sink if we could avoid it) - the amount of footguns in ethereum (I think the language is too permissive)
It looks like this solves at least 2 of the three!
Re: Ethereum 2.0 launches
#37Re: Ethereum 2.0 launches
#38Re: Ethereum 2.0 launches
#39I am incredibly happy about this. It's the first step for a major cryptocurrency towards ledger security that does not damage the environment via mining.
I always hated how wasteful and energy-inefficient mining is. Staking reduces energy costs by many, many orders of magnitude. With lightweight clients in development, it is possible to validate chain using Raspberry Pi.
I hope (but don't expect) that some time in the next 10 years Bitcoin will follow. If not, it's just so much CO2 that could have been avoided.
Re: Ethereum 2.0 launches
#40Is it still deflationary? Wondering if I should invest in the coin itself (which makes sense for deflationary coins) or a company doing something with it (which makes sense for an inflationary coin)
ETH was never deflationary.
As a matter of fact, knowing how many ETH will be produced over a given period of time is a question I never managed to get a satisfactory answer to.
There's probably an algorithm buried somewhere in the code, but it's likely not a simple one.