[ANN] Ethereum: Welcome to the Beginning

[seven.71]

Need to clarify one thing regarding ETH 2.0 will 2.0 network be 100% PoS or it will be a hybrid model in which both PoW and PoS will both work together? Sorry but I don't have much technical knowledge.

Ethereum 2.0 must work on the POS algorithm.
But phase 0 and phase 1 will be hybrid. In phase 1, the reward for miners should be reduced, and in phase 2, the network will refuse miner services and completely switch to the POS algorithm.
(This is very brief and in general terms, in practice there may be intermediate phases and other decisions, which will depend on the circumstances)

is it possible that there will be a delay in returning etherum 2.0 because I heard the news from several sources because I experienced it several times

[Sy]

Need to clarify one thing regarding ETH 2.0 will 2.0 network be 100% PoS or it will be a hybrid model in which both PoW and PoS will both work together? Sorry but I don't have much technical knowledge.

Ethereum 2.0 must work on the POS algorithm.
But phase 0 and phase 1 will be hybrid. In phase 1, the reward for miners should be reduced, and in phase 2, the network will refuse miner services and completely switch to the POS algorithm.
(This is very brief and in general terms, in practice there may be intermediate phases and other decisions, which will depend on the circumstances)

Thank you very much for the information

is it possible that there will be a delay in returning etherum 2.0 because I heard the news from several sources because I experienced it several times

Many do believe that there will be a delay with the launch but, several days back Vitalik said that there shouldn't be any delay but, the way bugs are popping I am with team delay on this one.

[Gyrsur]

Ethereum is dead. Devs are leaving to other projects. It was a scam right from the start.

What is the the source of your assumptions? Which devs left the eth for other project?

for example Lane Rettig left

[zasad@]

Need to clarify one thing regarding ETH 2.0 will 2.0 network be 100% PoS or it will be a hybrid model in which both PoW and PoS will both work together? Sorry but I don't have much technical knowledge.

Ethereum 2.0 must work on the POS algorithm.
But phase 0 and phase 1 will be hybrid. In phase 1, the reward for miners should be reduced, and in phase 2, the network will refuse miner services and completely switch to the POS algorithm.
(This is very brief and in general terms, in practice there may be intermediate phases and other decisions, which will depend on the circumstances)

is it possible that there will be a delay in returning etherum 2.0 because I heard the news from several sources because I experienced it several times

The Ethereum 2.0 testnet is not over yet, not all bugs have been identified, so you just have to wait for the results and follow the news.
If you do not participate in betting on money in which year Ethereum 2.0 will be launched, then you should not worry too much.
The main thing is that the new network will be launched.

[Gyrsur]

Bram Cohen (BitTorrent) on why "Proof of Stake (PoS) sucks".

[Wapinter]

I hope gas fee comes down when eth 2.0 is launched

[JollyGood]

We all hope it will come down and will stay stable at low fees otherwise it will affect investor confidence.

I hope gas fee comes down when eth 2.0 is launched

[Exadro]

We all hope it will come down and will stay stable at low fees otherwise it will affect investor confidence.

I hope gas fee comes down when eth 2.0 is launched

now we can see that the cost of gas is getting higher and that will make dap exchange even less

[big_daddy]

We all hope it will come down and will stay stable at low fees otherwise it will affect investor confidence.

I hope gas fee comes down when eth 2.0 is launched

now we can see that the cost of gas is getting higher and that will make dap exchange even less

You can get a notification by mail when the gas price is at some lower level using this -> https://ethgas.watch/
But I don’t see any big movement backwards, the gas price is “mooning”

[dishku]

We all hope it will come down and will stay stable at low fees otherwise it will affect investor confidence.

I hope gas fee comes down when eth 2.0 is launched

now we can see that the cost of gas is getting higher and that will make dap exchange even less

You can get a notification by mail when the gas price is at some lower level using this -> https://ethgas.watch/
But I don’t see any big movement backwards, the gas price is “mooning”

https://twitter.com/VitalikButerin/status/1300707752335962113

Layer 2 scaling is already functional as Vitalik mentioned in his tweet about LRC and OMG both are doing great job. Now it is easy to broadcast a transaction using these platform at low gas fee as compare with normal ETH platform. It's just a beginning so many projects already working on Layer 2 scaling solution so this problem could be solved very soon.

[tbct_mt2]

https://twitter.com/VitalikButerin/status/1300707752335962113

Layer 2 scaling is already functional as Vitalik mentioned in his tweet about LRC and OMG both are doing great job. Now it is easy to broadcast a transaction using these platform at low gas fee as compare with normal ETH platform. It's just a beginning so many projects already working on Layer 2 scaling solution so this problem could be solved very soon.

Price only waits for such news and ETH 2.0 to rise. Base on price chart, I am waiting to temporarily take profit at $48x, then I will wait for a while to buy it back. Next station in my plan to take profit will be $51x. It is the period for loyal ETH-enthusiasts to enjoy their sweet fruits after too long of waiting, pressure during massacre and patience to wait for the days.

[JollyGood]

There is still plenty of time to tackle this issue and find a way forward but is there enough drive within the ETH development team to do it?

We all hope it will come down and will stay stable at low fees otherwise it will affect investor confidence.

I hope gas fee comes down when eth 2.0 is launched

now we can see that the cost of gas is getting higher and that will make dap exchange even less

[ice18]

I hope gas fee comes down when eth 2.0 is launched

It's been crazy almost touching 500 gas costs and I totally stopped the transaction, ETH is only for the rich inside not for people who have middle-income economies right now, can only watch him wait for gas costs to fall

eth2.0 is badly needed gas is too high especially if you are using eth dapps or eth dex exchanges fees are insane 25-30 usd in one transaction holy moly miners getting rich in bull season

[ibuddy122505]

I hope gas fee comes down when eth 2.0 is launched

It's been crazy almost touching 500 gas costs and I totally stopped the transaction, ETH is only for the rich inside not for people who have middle-income economies right now, can only watch him wait for gas costs to fall

ETH is on fire and meantime ethereum gas fees are near all time highs. For any new people to crypto and as you said people who have middle-income economies right now, possibly demotivated using ETH. Right now average transactions fee ~5$ that's ridiculous.

I was attempted make transactions some token just to test it and my every single transaction were unsuccessful. ETH is just so broken!

[zasad@]

https://twitter.com/lawmaster/status/1300677609618116608
" In the month of August, Ethereum miners generated $115.3 million in fees. Bitcoin miners generated only $39.2 million in the same time period - about three times less than Ethereum miners."

https://twitter.com/glassnode/status/1300687354601111552
"#Ethereum miners earned over $500,000 USD in transaction fees in the past hour.

That is a new record high for a single hour (anomalous transaction fees earlier this year excluded)."

@VitalikButerin
https://twitter.com/VitalikButerin/status/1300707752335962113
"To those replying with "gas fees are too high", my answer to that is "well then more people should be accepting payments directly through zksync/loopring/OMG". Seriously, scaling to 2500+ TPS for simple-payments applications is here, we just need to... use it."

[Sy]

Researchers at ZenGo have properly disclosed a vulnerability discovered in the Diogenes protocol proof. The proof is designed to provide the raw entropy for a Verifiable Delay Function (VDF) for the Ethereum 2.0 random beacon chain.

https://www.coindesk.com/ethereum-2-dogbyte-attack-beacon-chain

[nira09]

I hope gas fee comes down when eth 2.0 is launched

It's been crazy almost touching 500 gas costs and I totally stopped the transaction, ETH is only for the rich inside not for people who have middle-income economies right now, can only watch him wait for gas costs to fall

Today the transaction fee is more than 500 Gwei, although the transaction fee can change every time, but still the transaction fee is high, if I trade on a DEX exchange like Uniswap, I could spend $ 50 USD in trading fees. this is not friendly

[Mr.Scott]

Does anybody knows why the gas fee are so high? Literally i'm feeling destroyed in my inner self, could not manage of making successful transactions. Continuously losing my ether balance after it's failing. Can eth 2.0 launch solve this issue?

[atjiat]

Does anybody knows why the gas fee are so high? Literally i'm feeling destroyed in my inner self, could not manage of making successful transactions. Continuously losing my ether balance after it's failing. Can eth 2.0 launch solve this issue?

On Twitter, Vitalik Buterin wrote a post commenting on the problem of high transaction costs that this problem primarily depends on scalability. But it should be said that the owners of the transactions are willing to pay and are already paying this price, and therefore the price rises.

[dishku]

Does anybody knows why the gas fee are so high? Literally i'm feeling destroyed in my inner self, could not manage of making successful transactions. Continuously losing my ether balance after it's failing. Can eth 2.0 launch solve this issue?

On Twitter, Vitalik Buterin wrote a post commenting on the problem of high transaction costs that this problem primarily depends on scalability. But it should be said that the owners of the transactions are willing to pay and are already paying this price, and therefore the price rises.

That's the big problem on Ethereum blockchain there is race to make the transactions get confirmed in very first block so majority of the people are doing this. Now the narrative of Vitalik has been changed dramatically before this he was against high transactions fees. Let's see what happen in future when they will launched ETH 2.0 but right now there are layer 2 platform are catching attention the community for providing the scaling solution.