[ANN] Ethereum: Welcome to the Beginning

[zasad@]

10-11.06.2020
Transaction Fee:10,668.73185 Ether ($2,613,945.99)  Spark Pool
https://etherscan.io/tx/0xca8f8c315c8b6c48cee0675677b786d1babe726773829a588efa500b71cbdb65

Transaction Fee:10,668.73185 Ether ($2,613,945.99)  Ethermine
https://etherscan.io/tx/0xc215b9356db58ce05412439f49a842f8a3abe6c1792ff8f2c3ee425c3501023c

12.06.2020  
https://etherscan.io/tx/0xfd10c9a4507c4ebf1db9f71e05ba8ea09f3603c9012c24195d731a1fadfa14d9
Transaction Fee: 2,310 Ether ($547,770.30) F2Pool

Interesting statistics:

1. Ethermine transferred the 100 % received ETH to the miners.
https://twitter.com/etherchain_org/status/1272425639673462784

2.F2pool transferred the 10 % received ETH to the miners, 90% returned back
https://blog.f2pool.com/en/announcement-en/handling-of-abnormal-eth-tx-en

3.Spark Pool transferred the 100 % received ETH to the miners.
https://twitter.com/sparkpool_eth/status/1272810004324601857

[Sy]

Its a good read if you would like to know more about ETH 2.0 the article below is by @Interdax

ETH 2.0 Explained: Staking, Sharding, and Scaling Ethereum
https://medium.com/interdax/ethereum-2-0-explainer-e996ac7dc006

[Sy]

BITCOIN and ETHEREUM lead THIS DECADES Return On Investment Percentage Over Amazon, Google, Netflix!

https://www.bocvip.com/32069/bitcoin-and-ethereum-lead-this-decades-return-on-investment-percentage-over-amazon-google-netflix/

[Shy Ronnie]

Berlin Hard Fork on August
https://coindar.org/en/event/ethereum-eth-berlin-hard-fork-29401

[zasad@]

Hardfork Meta: Berlin
https://github.com/ethereum/EIPs/blob/master/EIPS/eip-2070.md

The developers decided to optimize the ETH 1.0 network. Perhaps the launch of ETH 2.0 will be delayed

[Sy]

ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin

Ethereum 2.0 will eventually facilitate up to approximately 100,000 transactions per second.

https://cointelegraph.com/news/eth-scalability-isn-t-going-to-be-an-issue-soon-vitalik-buterin-posits

[JollyGood]

They have hyped up ETH 2.0 for so long and made so many promises, I hope it is not going to have issues by the time they eventually launch.

ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin

Ethereum 2.0 will eventually facilitate up to approximately 100,000 transactions per second.

https://cointelegraph.com/news/eth-scalability-isn-t-going-to-be-an-issue-soon-vitalik-buterin-posits

[zasad@]

ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin

Ethereum 2.0 will eventually facilitate up to approximately 100,000 transactions per second.

https://cointelegraph.com/news/eth-scalability-isn-t-going-to-be-an-issue-soon-vitalik-buterin-posits

vitalik.eth
@VitalikButerin
ETH2 scaling for data will be available *before* ETH2 scaling for general computation. This implies that rollups will be the dominant scaling paradigm for at least a couple of years: first ~2-3k TPS with eth1 as data layer, then ~100k TPS with eth2 (phase 1). Adjust accordingly.

https://twitter.com/VitalikButerin/status/1277961594958471168

If you read a tweet, then Vitalik tells us about phase 1. This is very cool, but we must understand that phase 1 does not support smart contracts.  Support for smart contracts is promised to us in phase 2.
All major transactions will be in ETH 1.0 before starting phase 2.

[Sy]

ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin

Ethereum 2.0 will eventually facilitate up to approximately 100,000 transactions per second.

https://cointelegraph.com/news/eth-scalability-isn-t-going-to-be-an-issue-soon-vitalik-buterin-posits

vitalik.eth
@VitalikButerin
ETH2 scaling for data will be available *before* ETH2 scaling for general computation. This implies that rollups will be the dominant scaling paradigm for at least a couple of years: first ~2-3k TPS with eth1 as data layer, then ~100k TPS with eth2 (phase 1). Adjust accordingly.

https://twitter.com/VitalikButerin/status/1277961594958471168

If you read a tweet, then Vitalik tells us about phase 1. This is very cool, but we must understand that phase 1 does not support smart contracts.  Support for smart contracts is promised to us in phase 2.
All major transactions will be in ETH 1.0 before starting phase 2.

Thank you for the information. So even after the launch of 2.0 for some time 1.0 is going to be the main chain of the network? As a smart contract is one of the most important feature IMO.

Will they roll out staking in the first phase of 2.0 or the second phase?

[JollyGood]

As long as there is a clear plan and a clear timetable that stays true to its target then people will be willing to happily wait but if the launch gets delayed again and again then interest will dry up.

So far it seems if all goes well and all modifications are implemented then ETH 2.0 will be a force to be reckoned with.

https://twitter.com/VitalikButerin/status/1277961594958471168

If you read a tweet, then Vitalik tells us about phase 1. This is very cool, but we must understand that phase 1 does not support smart contracts.  Support for smart contracts is promised to us in phase 2.
All major transactions will be in ETH 1.0 before starting phase 2.

[zasad@]

ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin

Ethereum 2.0 will eventually facilitate up to approximately 100,000 transactions per second.

https://cointelegraph.com/news/eth-scalability-isn-t-going-to-be-an-issue-soon-vitalik-buterin-posits

vitalik.eth
@VitalikButerin
ETH2 scaling for data will be available *before* ETH2 scaling for general computation. This implies that rollups will be the dominant scaling paradigm for at least a couple of years: first ~2-3k TPS with eth1 as data layer, then ~100k TPS with eth2 (phase 1). Adjust accordingly.

https://twitter.com/VitalikButerin/status/1277961594958471168

If you read a tweet, then Vitalik tells us about phase 1. This is very cool, but we must understand that phase 1 does not support smart contracts.  Support for smart contracts is promised to us in phase 2.
All major transactions will be in ETH 1.0 before starting phase 2.

Thank you for the information. So even after the launch of 2.0 for some time 1.0 is going to be the main chain of the network? As a smart contract is one of the most important feature IMO.

Will they roll out staking in the first phase of 2.0 or the second phase?

After the launch of ETH 2.0 (phase 0), no one will need a new network, except for POS miners (validators). I do not yet understand how the bridge between ETH 1.0 and ETH 2.0 will work (one way, or both). We will get 2 types of ETH: fast transactions with low commissions but without smart contracts and slow transactions with market commissions + smart contract support.
If the launch time increases between phases, this will negatively affect for ETH.

The price can rise for several common reasons:

1. Increase in demand for a coin
2. Reduction in the number of coins in circulation


"1.Ethereum 2 phase 0;
2.EIP-1559;
3.The end of mining; and
4.Ethereum 2 phase 2."

https://www.attestant.io/posts/charting-ethereum-issuance/

And after phase 2 we can see 1 and 2 reason, but it’s very difficult to say how long Phase 2 will start.

staking will be launched in phase 0

[jasta more]

Funny how you think that eth pos is ever gonna happen

[Sy]

~

I agree if there's a huge gap between the rollouts of phase 0,1,2 then it will surely affect ETH's price because they have already delayed it so much that I don't think the community will have any patience left for the smart contract release.

[JollyGood]

Elaborate... why are you being so negative?

Funny how you think that eth pos is ever gonna happen

[zasad@]

~

I agree if there's a huge gap between the rollouts of phase 0,1,2 then it will surely affect ETH's price because they have already delayed it so much that I don't think the community will have any patience left for the smart contract release.

Vitalik said that the transition to ETH 2.0 will be very fast and the time between phases will be short. In phase 1, the transaction speed will not be high, as the number of shards will increase over time and this will increase TPS.

Vitalik said about "rollups".
What is it?
https://docs.ethhub.io/ethereum-roadmap/layer-2-scaling/optimistic_rollups/
Projects:
https://omg.network/omg-network-scales-ethereum/
https://blog.matic.network/the-matic-network-mainnet-is-now-live/

I don’t know what will work before: ETH 2.0 or Layer-2 solutions.

[Sy]

https://medium.com/@sheinix/ethereum-2-0-is-getting-closer-a4381693e6ad

Give this article by sheinix a read if you like to know more about the upcoming phases of ETH 2.0 it helped me understand the rollouts bit better.

[zasad@]

https://twitter.com/0xstark/status/1278369273640091648
Josh Stark(C)

"halfway through 2020, total $ paid to use
@ethereum
 this year has eclipsed total paid in all of 2019

2020 YTD: $43.5 million
2019 total: $34.5 million"

[davide72]

They have hyped up ETH 2.0 for so long and made so many promises, I hope it is not going to have issues by the time they eventually launch.

ETH Scalability Isn’t Going to Be an Issue Soon, Suggests Vitalik Buterin

Ethereum 2.0 will eventually facilitate up to approximately 100,000 transactions per second.

https://cointelegraph.com/news/eth-scalability-isn-t-going-to-be-an-issue-soon-vitalik-buterin-posits

Even if problems were encountered, I am sure they will be solved, we must not be pessimistic, we hope that everything will still work for the best

[JollyGood]

Problems should not occur, the ETH team have dragged this out for too long so by the launch they launch they should have all angles covered to ensure all goes smoothly.
 

Even if problems were encountered, I am sure they will be solved, we must not be pessimistic, we hope that everything will still work for the best

[Sy]

https://twitter.com/0xstark/status/1278369273640091648
Josh Stark(C)

"halfway through 2020, total $ paid to use
@ethereum
 this year has eclipsed total paid in all of 2019

2020 YTD: $43.5 million
2019 total: $34.5 million"

This is for the gas fees, right? Damn! that's a huge amount as the author of the tweet said even if we subtract the 5M gas fees that were sent for an unknown reason 2020 is still well ahead and there's still about 4 months left in the year lol.