[ANN] Ethereum: Welcome to the Beginning

[zasad@]

https://twitter.com/trent_vanepps/status/1416039650393788416?s=20
"I was asked how quickly the EIP-1559 baseFeePerGas rises / falls, & didn't know of an accessible resource..

..so I made this http://docs.google.com/spreadsheets/d/1Ld4JSyaz-gvTx-4xIaxe4qU2wlaG1XAQfMiKl9CKCY0/edit?usp=sharing

Hopefully this helps to estimate how quickly we stabilize depending on congestion around London (~Aug 4)"

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[Daltonik]

Ethereum must go beyond the wild, speculative financial movement known as DeFi, Ethereum founder Vitalik Buterin said in a speech at the Paris EthCC conference. https://decrypt.co/76545/vitalik-buterin-beseeches-ethcc-ethereum-crowd-move-beyond-defi

He also co-authored with Georgios Konstantopoulos publishes a large article on the reorganization of blocks after the transition to ETH2 https://www.paradigm.xyz/2021/07/ethereum-reorgs-after-the-merge/

[zasad@]

https://decrypt.co/76683/ethereum-transition-eth2-gets-formal-improvement-proposal

"Ethereum Transition to ETH2 Gets a Formal Improvement Proposal
EIP-3675 puts the network one step closer to Ethereum 2.0. That doesn't mean it's coming right away.

In brief
EIP-3675 is a proposal to officially transition Ethereum to proof of stake.
The network currently uses proof of work.
A functioning proof-of-stake network is still months away."

A new graphic for Ethereum's Upgrade Path: leading to the Merge and beyond 👩‍🚀

https://twitter.com/trent_vanepps/status/1415741658067517441

[STT]

Many miners will be panic and I think price will be manipulated on the market.

I expect volatility from the differences to monetary flow of ETH

ETH is going up if they pass the POS contract though it should also mean ETH tied up are now also available which could mean short term weakness and a buying opportuinity for anyone who understands that and has faith in POS being of benefit long term.   I think POS makes price double if it enables lower transaction fees that utility will be described within the price like a share vs dividends.

POS for #ethereum is years away. Keep your money in your pocket for now

somebodys comment on twitter, I thought much sooner then that

[MoneyJ]

Expecting the new version of ETH is a great anticipation. With Proof of stake and burning of eth come at the incoming implementation protocol, Eth becomes deflationary in nature thus have potentials to really skyrocket and might overtake bitcoin in market capitalization.

[raiblock]

Nice to see ETH performing well and regain its value since the last week. What about the london upgrade? I am not so well technically but where i can follow the upgrade and when it will be done?

Thanks in advance . I wish you best of luck all big holders.

[Daltonik]

The number of validators in the Ethereum 2.0 network has exceeded 200,215 currently the betting platform contains 6,406,811 ethereum, or more than $15 billion in value.

[tbct_mt2]

The number of validators in the Ethereum 2.0 network has exceeded 200,215 currently the betting platform contains 6,406,811 ethereum, or more than $15 billion in value.

The number of validators on ETH network is bigger than what Binance Smart Chain has. Binance Smart Chain is centralized by Binance but Ethereum network is more decentralized. Your screenshot and given stats on that page demonstrate that ETH network is actually decentralized.

If I choose one between Ethereum and Binance Smart Chain, I would choose Ethereum. It has longer history and better decentralization. Transaction fee is not the only thing to consider and assess one project.

[ivomm]

The number of validators in the Ethereum 2.0 network has exceeded 200,215 currently the betting platform contains 6,406,811 ethereum, or more than $15 billion in value.

The number of validators on ETH network is bigger than what Binance Smart Chain has. Binance Smart Chain is centralized by Binance but Ethereum network is more decentralized. Your screenshot and given stats on that page demonstrate that ETH network is actually decentralized.

If I choose one between Ethereum and Binance Smart Chain, I would choose Ethereum. It has longer history and better decentralization. Transaction fee is not the only thing to consider and assess one project.

I wouldn't say that Ethereum is fully decentralized. Only partially perhaps. There is this developer team with an uknown premined stash, who decides what to do with the bloockchain. This is done without asking the users, including reversing transactions in case they don't like something. This is what happened in 2016, after the DAO accident. Since then the project has been compromised and nobody can state that it is truly decentralized. Now we see a switch from POW, which was the only decentralized element, to a POS, which is like the fiat money. So with time instead of going more decentralized, ethereum is going even less decentralized. It is like a fiat money blockchain, which allows ponzis to be made on top of it, like DAO, Icos, Defi, etc. So everyone investing in ethereum must know, that they are trusting their money to a team that makes all decisions on their own and may split and abandon the project anytime. One of the inventors has already left the project. And finally, nobody knows what is the supply and what it will be after the POS switch. So it is not about bitcoin maximalism as Vitalik is trying to defend his project. This is the truth -  that the only fully decentralized blockchain is bitcoin. There is the Core's team of course, who is changing with time but they always ask the community for each change. The users and miners vote and then the change is implemented. And we are talking about small techical soft forks like segwit and tarpoot, which are expanding the decentralization.

[zasad@]

The number of validators in the Ethereum 2.0 network has exceeded 200,215 currently the betting platform contains 6,406,811 ethereum, or more than $15 billion in value.

The number of validators on ETH network is bigger than what Binance Smart Chain has. Binance Smart Chain is centralized by Binance but Ethereum network is more decentralized. Your screenshot and given stats on that page demonstrate that ETH network is actually decentralized.

If I choose one between Ethereum and Binance Smart Chain, I would choose Ethereum. It has longer history and better decentralization. Transaction fee is not the only thing to consider and assess one project.

I wouldn't say that Ethereum is fully decentralized. Only partially perhaps. There is this developer team with an uknown premined stash, who decides what to do with the bloockchain. This is done without asking the users, including reversing transactions in case they don't like something. This is what happened in 2016, after the DAO accident. Since then the project has been compromised and nobody can state that it is truly decentralized. Now we see a switch from POW, which was the only decentralized element, to a POS, which is like the fiat money. So with time instead of going more decentralized, ethereum is going even less decentralized. It is like a fiat money blockchain, which allows ponzis to be made on top of it, like DAO, Icos, Defi, etc. So everyone investing in ethereum must know, that they are trusting their money to a team that makes all decisions on their own and may split and abandon the project anytime. One of the inventors has already left the project. And finally, nobody knows what is the supply and what it will be after the POS switch. So it is not about bitcoin maximalism as Vitalik is trying to defend his project. This is the truth -  that the only fully decentralized blockchain is bitcoin. There is the Core's team of course, who is changing with time but they always ask the community for each change. The users and miners vote and then the change is implemented. And we are talking about small techical soft forks like segwit and tarpoot, which are expanding the decentralization.

I do not agree with you. After the DAO was hacked, a vote was taken and a hard fork was carried out.
Consensus has been reached.
https://blog.ethereum.org/2016/06/24/dao-wars-youre-voice-soft-fork-dilemma/

I understand that a lot of coins were created in the genesis block, but you can't talk about the project if you don't compare it with competitors.
Ethereum is the most decentralized protocol after Bitcoin.

[DBX CRYPTO]

The number of validators in the Ethereum 2.0 network has exceeded 200,215 currently the betting platform contains 6,406,811 ethereum, or more than $15 billion in value.

The number of validators on ETH network is bigger than what Binance Smart Chain has. Binance Smart Chain is centralized by Binance but Ethereum network is more decentralized. Your screenshot and given stats on that page demonstrate that ETH network is actually decentralized.

If I choose one between Ethereum and Binance Smart Chain, I would choose Ethereum. It has longer history and better decentralization. Transaction fee is not the only thing to consider and assess one project.

I wouldn't say that Ethereum is fully decentralized. Only partially perhaps. There is this developer team with an uknown premined stash, who decides what to do with the bloockchain. This is done without asking the users, including reversing transactions in case they don't like something. This is what happened in 2016, after the DAO accident. Since then the project has been compromised and nobody can state that it is truly decentralized. Now we see a switch from POW, which was the only decentralized element, to a POS, which is like the fiat money. So with time instead of going more decentralized, ethereum is going even less decentralized. It is like a fiat money blockchain, which allows ponzis to be made on top of it, like DAO, Icos, Defi, etc. So everyone investing in ethereum must know, that they are trusting their money to a team that makes all decisions on their own and may split and abandon the project anytime. One of the inventors has already left the project. And finally, nobody knows what is the supply and what it will be after the POS switch. So it is not about bitcoin maximalism as Vitalik is trying to defend his project. This is the truth -  that the only fully decentralized blockchain is bitcoin. There is the Core's team of course, who is changing with time but they always ask the community for each change. The users and miners vote and then the change is implemented. And we are talking about small techical soft forks like segwit and tarpoot, which are expanding the decentralization.

I do not agree with you. After the DAO was hacked, a vote was taken and a hard fork was carried out.
Consensus has been reached.
https://blog.ethereum.org/2016/06/24/dao-wars-youre-voice-soft-fork-dilemma/

I understand that a lot of coins were created in the genesis block, but you can't talk about the project if you don't compare it with competitors.
Ethereum is the most decentralized protocol after Bitcoin.

All the same, I think that your opponent is right about something. Decentralization will come to naught. The platform will be operated by whales.

[moderator's note: edited out fake signature]

[zasad@]

https://decrypt.co/77216/ethereum-celebrates-sixth-anniversary-today-devs-race-replace-it

Ethereum Celebrates Sixth Anniversary—As Devs Race to Upgrade It
"Ethereum launched on July 30, 2015.
ETH is now the second-largest cryptocurrency by market cap.
And the network is utilized by many other protocols."
https://decrypt.co/77216/ethereum-celebrates-sixth-anniversary-today-devs-race-replace-it




A bit of history:
At the ICO, 2,000 Ethereums were given for 1 bitcoin.
Investors Received 60,000,000 Ethereum
Developers received 12,000,000 Ethereum
The rest is mined by miners
https://t.me/KartavKanaLL/8431


https://blockchair.com/ethereum/block/0

[DBX CRYPTO]

there are many other decentralized project after bitcoin and eth but still eth is the second most popular and great coin ever invented in crypto history. and yes the whales always control the price of tha coin. but only if that they hold for long term and  when ever they want they just sell and bring the price down. competitors means contro lof that whales and its good

I believe that neither Bitcoin nor Ethereum are truly decentralized currencies. In my opinion, decentralization is a complete departure from fiat and Internet!

[virasog]

https://decrypt.co/76683/ethereum-transition-eth2-gets-formal-improvement-proposal

"Ethereum Transition to ETH2 Gets a Formal Improvement Proposal
EIP-3675 puts the network one step closer to Ethereum 2.0. That doesn't mean it's coming right away.

In brief
EIP-3675 is a proposal to officially transition Ethereum to proof of stake.
The network currently uses proof of work.
A functioning proof-of-stake network is still months away."

A new graphic for Ethereum's Upgrade Path: leading to the Merge and beyond 👩‍🚀

https://twitter.com/trent_vanepps/status/1415741658067517441

People are underestimating the power of etherum and think that other chains like binance smart chain or Solana blockchian being more quick and cheap.
Once this roadmap will complete, the no one can beat ethereum in terms of cost too. For the security point of view, other blockchain can't even come close to ethereum. Ethereum is truly decentralized like bitcoin.

[JohnBitCo]

there are many other decentralized project after bitcoin and eth but still eth is the second most popular and great coin ever invented in crypto history. and yes the whales always control the price of tha coin. but only if that they hold for long term and  when ever they want they just sell and bring the price down. competitors means contro lof that whales and its good

I believe that neither Bitcoin nor Ethereum are truly decentralized currencies. In my opinion, decentralization is a complete departure from fiat and Internet!

I think you need to have clear understanding of things first. Bitcoin and Ethereum are truly decentralized. Adoption of these currencies and eliminating Fiat is another thing which will happen over the time but this does not make bitcoin centralized.

Secondly, Internet is not going anywhere. If there would be no internet, how can you use the crypto currencies ?  

[onecall123]

Ethereum is on a 13 day win streak and has not yet started burning coins. Will you guys welcome the impending dump? It is what I am thinking. However, as a market, Ethereum cannot raise every day no matter how much I enjoy seeing the price go up. There's nothing good about this many green candles, but this short position is very beneficial to the trader.

[Majormax]

The number of validators in the Ethereum 2.0 network has exceeded 200,215 currently the betting platform contains 6,406,811 ethereum, or more than $15 billion in value.

The number of validators on ETH network is bigger than what Binance Smart Chain has. Binance Smart Chain is centralized by Binance but Ethereum network is more decentralized. Your screenshot and given stats on that page demonstrate that ETH network is actually decentralized.

If I choose one between Ethereum and Binance Smart Chain, I would choose Ethereum. It has longer history and better decentralization. Transaction fee is not the only thing to consider and assess one project.

I wouldn't say that Ethereum is fully decentralized. Only partially perhaps. There is this developer team with an uknown premined stash, who decides what to do with the bloockchain. This is done without asking the users, including reversing transactions in case they don't like something. This is what happened in 2016, after the DAO accident. Since then the project has been compromised and nobody can state that it is truly decentralized. Now we see a switch from POW, which was the only decentralized element, to a POS, which is like the fiat money. So with time instead of going more decentralized, ethereum is going even less decentralized. It is like a fiat money blockchain, which allows ponzis to be made on top of it, like DAO, Icos, Defi, etc. So everyone investing in ethereum must know, that they are trusting their money to a team that makes all decisions on their own and may split and abandon the project anytime. One of the inventors has already left the project. And finally, nobody knows what is the supply and what it will be after the POS switch. So it is not about bitcoin maximalism as Vitalik is trying to defend his project. This is the truth -  that the only fully decentralized blockchain is bitcoin. There is the Core's team of course, who is changing with time but they always ask the community for each change. The users and miners vote and then the change is implemented. And we are talking about small techical soft forks like segwit and tarpoot, which are expanding the decentralization.

I do not agree with you. After the DAO was hacked, a vote was taken and a hard fork was carried out.
Consensus has been reached.
https://blog.ethereum.org/2016/06/24/dao-wars-youre-voice-soft-fork-dilemma/

I understand that a lot of coins were created in the genesis block, but you can't talk about the project if you don't compare it with competitors.
Ethereum is the most decentralized protocol after Bitcoin.

The degree of decentralisation is partly a matter of definition. A blockchain can have excess centralisation or control by the miners or  the holders, or a number of other factors.

It is still the case that large amounts of fiat money could give control of mining or stake. Large finance corporations already hold significant amounts of BTC and ETH, and would perhaps also move to control mining but for the environmental concerns. That is perhaps the 'downside' of POS, in that it would facilitate Big Finance to become more involved (although some would argue that is good).

Ultimately the test is in the real world outcomes, and we can only wait and see.

[ivomm]

[tbct_mt2]

I wouldn't say that Ethereum is fully decentralized. Only partially perhaps. There is this developer team with an uknown premined stash, who decides what to do with the bloockchain. This is done without asking the users, including reversing transactions in case they don't like something. This is what happened in 2016, after the DAO accident. Since then the project has been compromised and nobody can state that it is truly decentralized.

It is a fact and an important part of Ethereum history from that people have evidence to say Ethereum is centralized, partially even the project and the network have changed a lot in many years after the DAO hack.

Now we see a switch from POW, which was the only decentralized element, to a POS, which is like the fiat money. So with time instead of going more decentralized, ethereum is going even less decentralized.

The power will be centralized in hands of big exchanges. They will hold the most Ethereum on the network and it won't be good for Ethereum network. Exchanges are targets of governments and have more centralization on exchanges means more risk for Ethereum network.

This is one of the reasons many people,,, including myself, changed their minds about Ethereum. Even Vitalik himself admitted at some point it was not as decentralized as he would like and took steps to changing that. The fact that dev calls take forever and decisions are "slow" show that the method eventually works.

He tries but it does not mean his vision can work.

BSC can also achieve that I suppose but not for a long time yet.

BSC is worse than Ethereum network because that chain has very little validators and they are fully controlled by Binance. Binance again are one of most favorite targets of governments now and in future. It means that chain has already been under radars for more regulations then FUD.

[zasad@]

Remaining until London hard fork
https://etherscan.io/block/countdown/12965000


EIP-1559: What Happens Next for Ethereum
EIP-1559 is a big upgrade to Ethereum, promising to rein in its volatile gas fees. But what does it mean for the network and its users?
https://decrypt.co/77629/eip-1559-what-happens-next-for-ethereum

"Join us Thursday, August 5th at 10AM PT on Twitter Spaces for a discussion on the upcoming EIP-1559 deployment with Decrypt's Jeff Benson, Ethereum 2.0 core engineer Ansgar Dietrichs, and Ethereum Cat Herders Pooja Ranjan and Hudson Jameson."