Ethereum 2.0 delays thread

[articlecity]

Similar to the bitcoin ETF series of delays, I have already speculated that Ethereum 2.0 might have its own series of delays. This news article might be the beginning of one report of many.



‘95% Confidence’: Ethereum Developers Pencil In July 2020 for Eth 2.0 Launch

Ethereum’s next system-wide upgrade, Eth 2.0, won’t launch in Q2 2020 as expected, but researchers remain confident the initial network parameters will deploy in 2020. Anything less would be considered a “failure,” they said

Read in full https://www.coindesk.com/95-confidence-ethereum-developers-pencil-in-july-2020-for-eth-2-0-launch

With current issues of high gas and fee and congestion the community is getting desperate, annoyed and angry so delaying further will not be good for eth as a project, if they launch eth 2.0 with all the scalability issues im sure eth will surge to new highs.

[todiefor17]

I am skeptical of ethereum's scalability since they created a complex programming language and when the codes overlap in the long run they can be burdened with code development.
Currently, the ethereum network has very high gas costs and transaction delays. I cannot give good marks on ethereum's network right now. I'm pissed off and frustrated at the ridiculously high cost.

[Ozero]

@Tash. I predict another delay on November after this delay hehehe. The statement also said unless we find severe bugs in clients and protocol. This does not show confidence on the development of project.

I expecting a delay as well they might launch the final testnet in the coming weeks but when it comes to mainnet I think Jan 2021 is still the best bet.
TBH I don't care if decide to delay again because I am immune to their delay news lol.

I don't see any major issues getting Ethereum 2.0 improvements to launch on this coin. The developers themselves have already offered hackers for a reward to try to find vulnerabilities in the upcoming improvements. From this it follows that they are almost ready. However, in this matter, there is no need to rush, it is better to double-check everything several times.
I expect the upcoming improvements to dramatically change this coin for the better.

[bbc.reporter]

I suspect a lot of people don't understand what the 2.0 update includes, or how long this update will take to fully implement (it is a multi-year update).

https://consensys.net/knowledge-base/ethereum-2/faq/


Now take a guess which phase a congested network like Ethereum with its rising gas fees really needs ? Which phase will really fix things for its network ?

However, that update was promised 1 year ago and had been delayed a few times already. I speculate more delays and Eth 2.0 might not be online on 2021.

The phase 0 beacon chain will be released with a small delay, however, it might not develop more than that for maybe 2 years. But it will be good for investors, they can pump Eth 1.0 to have Eth 2.0 and pump that more hehehe.

[Wingo]

Similar to the bitcoin ETF series of delays, I have already speculated that Ethereum 2.0 might have its own series of delays. This news article might be the beginning of one report of many.



‘95% Confidence’: Ethereum Developers Pencil In July 2020 for Eth 2.0 Launch

Ethereum’s next system-wide upgrade, Eth 2.0, won’t launch in Q2 2020 as expected, but researchers remain confident the initial network parameters will deploy in 2020. Anything less would be considered a “failure,” they said

Read in full https://www.coindesk.com/95-confidence-ethereum-developers-pencil-in-july-2020-for-eth-2-0-launch

With the rise of the DeFi market. Ethereum blockchain now needs a lot more scalability. Transaction fees are astounding and it's becoming a bottleneck for current projects that provides Ethereum based products and services. PoS, although not good for miners, but will provide a lot more value in the long run. Network congestion can be fully solved with the update and a lot more space for expansion.

[bbc.reporter]

It appears that the Defi experts also speculate more delays. The worse part of this is they do not think Eth 2.0 can solve the problem because of incompatibilites for their dapps to upgrade from Ethereum to Ethereum 2.0.

In any case, I speculate I know what project Vitalik and his friends are investing on to replace Ethereum if Eth 2.0 is a nothingburger hehehe.



DeFi experts say that Ethereum 2.0 is not the answer to high gas fees

DeFi experts and computer scientists got together on Sept. 3 for Cointelegraph China’s DeFi Marathon event shared their thoughts on the high gas fee potential solutions. Although they have different opinions on solutions, they all agreed that Ethereum 2.0 is not the answer to high transaction costs.

Sergej Kunz, CEO of the oldest decentralized exchange 1inch, Mounir Benchemled, the Founder and CEO of ParaSwap, a middleware layer that connects protocols, dApps and trading venues and professor Alex Kumanovic, co-founder at bloXroute Labs, a blockchain distribution network or BDN that allows global network communicate faster, said Ethererum 2.0 has its trade-offs. It still might not be scalable and secure enough to facilitate the users’ transactions.

The upgrade did not really anticipate the DeFi hype. So, to make sure everyone can get involved, the infrastructure needs to be thought through all over again. Kunz stated that:

“You have to rethink everything. You can migrate smart contracts to the code but it’s not not scalable. To be able to scale, you have to create standards and bring new protocols based on the new sharded architecture, such as NEAR which is similar to Ethereum 2.0.”

Mounir added that even though Ethereum 2.0 could scale, it might take too long for it to happen. The reason for the delay is mainly due to security. The core team has to make sure it's secure enough before launching it given how critical it is.

Kunz, Mounir and Kumanovic all agreed that it is not  practical for all projects to move on the Ethereum 2.0 as well, stating:

“For it to work, all applications would need to move towards one single platform. Major projects might have consensus, however for other projects who have their own agendas, it might be hard. New bridges will be built to allow interoperability.”

Read in full https://cointelegraph.com/news/defi-experts-say-that-ethereum-20-is-not-the-answer-to-high-gas-fees

[Tash]

With the rise of the DeFi market. Ethereum blockchain now needs a lot more scalability. Transaction fees are astounding and it's becoming a bottleneck for current projects that provides Ethereum based products and services. PoS, although not good for miners, but will provide a lot more value in the long run. Network congestion can be fully solved with the update and a lot more space for expansion.

Just checked the median transaction fees for Ethereum and found that it is still below $1 per transaction. So at least when compared to the Bitcoin transactions, it is not exceptionally expensive. But at the same time, if DeFi expands significantly, then there may be network congestion and the transaction fee can go up astronomically. The developers need to make sure that this does not happen. 

So i go in the shop buy something for $1 and also pay $1 transaction fee, lol. Sound investment, sure.

[qwizzie]

With the rise of the DeFi market. Ethereum blockchain now needs a lot more scalability. Transaction fees are astounding and it's becoming a bottleneck for current projects that provides Ethereum based products and services. PoS, although not good for miners, but will provide a lot more value in the long run. Network congestion can be fully solved with the update and a lot more space for expansion.

Just checked the median transaction fees for Ethereum and found that it is still below $1 per transaction. So at least when compared to the Bitcoin transactions, it is not exceptionally expensive. But at the same time, if DeFi expands significantly, then there may be network congestion and the transaction fee can go up astronomically. The developers need to make sure that this does not happen.  

You are forgetting about the fees that you get charged with, when you interact with a DeFi protocol.
Those can run op to $100 for a single transaction. Since DeFi traffic is still immensely high, people will still need to pay
those very high fees. Most people just choose to stay in that DeFi project, hoping those fees will drop in time too.

https://cointelegraph.com/news/using-a-defi-protocol-now-costs-more-than-50-as-ethereum-fees-skyrocket
https://cointelegraph.com/news/99-gas-fees-on-ethereum-are-crippling-defis-growth

I wonder if those fees will indeed drop to a more reasonable level. Has anyone notice them getting lower ?

[Kopetunto]

With the rise of the DeFi market. Ethereum blockchain now needs a lot more scalability. Transaction fees are astounding and it's becoming a bottleneck for current projects that provides Ethereum based products and services. PoS, although not good for miners, but will provide a lot more value in the long run. Network congestion can be fully solved with the update and a lot more space for expansion.

Just checked the median transaction fees for Ethereum and found that it is still below $1 per transaction. So at least when compared to the Bitcoin transactions, it is not exceptionally expensive. But at the same time, if DeFi expands significantly, then there may be network congestion and the transaction fee can go up astronomically. The developers need to make sure that this does not happen. 

transaction fees in Ethereum are unstable, 3 days ago the Fee is still above $ 5, and now the Fee is below $ 1,
maybe because the number of transactions on Ethereum is reduced and making Gas is also reduced

[FaucetKING]

Omg, this is gonna be a terrible news for the Ethereum Community if the dev team couldn't release ETH 2.0 in the decided time frame. Getting stick to the Roadmap is a must for a project such as Ethereum, playing with investors trust in the team and the project could be harmless, take a look at the last movements of Eth's price and you'll see how bad the effect of these news on the valuation of the coin.

[Shasha80]

I'm already tired of waiting for ETH 2.0 to be released, after all, there have been many articles reporting that ETH 2.0 might not be
able to finish problems with high gas fees. This negative news that has started to spread is one of the factors why the price of Ethereum
continues to fall in the market. Even so, Ethereum's popularity is still quite high, so it should still be safe to invest in Ethereum for now.

[Tash]

Omg, this is gonna be a terrible news for the Ethereum Community if the dev team couldn't release ETH 2.0 in the decided time frame. Getting stick to the Roadmap is a must for a project such as Ethereum, playing with investors trust in the team and the project could be harmless, take a look at the last movements of Eth's price and you'll see how bad the effect of these news on the valuation of the coin.

What? It was scheduled to be implemented by January 30, 2017
So yes soon 4 years late. It took less time to prepare to fly to the moon than to write some lines of code, let that sink in.

[bbc.reporter]

I am quite certain that there will be a delay. However, for all of you cryptocoin traders, November might be a good time to pump and dump Ethereum again hehehe. There are many articles setting the storyboard for a pump to $500.



Ethereum 2.0., the much-needed and much-delayed update to the Ethereum blockchain, is on track for a November 2020 launch, according to one of its developers.

In a blog post summing up recent updates on the long road to Ethereum 2.0, Raul Jordan, an Ethereum 2.0 developer with Ethereum infrastructure builder Prysmatic Lab, said that should various security checks and user experience polishes take place, “November is still looking good for a launch from our perspective.”

Source https://decrypt.co/41664/ethereum-2-0-on-track-for-november-launch-says-dev

[Kemarit]

^^ Well Ethereum has been pumping already ever since the news of Eth2.0 and even it is delayed the price continue to soar. And so with this recent news, investors have reason to pump it again and push their narratives to $500 up until November.

But in any case of a delay again, it will crash again. But this will be good to ride the market till November and see how it goes. 

[bbc.reporter]

It has taken Filecoin development team 3 years before launching their network. How much more years does everyone predict will the Ethereum development team launch Eth 2.0? Also 3?

Three years after its $205 million initial coin offering (ICO), Filecoin has said its live network is about to launch.

Source https://www.coindesk.com/filecoin-mainnet-launch

[wowz2010]

There are so many hype around Ethereum 2.0 anmd thet eam can not afford to mess up, if they failed to deliver any significant improvements compared to what we already have in the space then I can see Ethereum losing its grip on the market, now there are some good projects all they need to do is to incentives developers to build on their platform

I don't think they're going to lose a lot if they won't live up to users expectations.
However, if they won't upset anyone or even impress most of crypto community - they'll be rewarded hugely.
Anyway, we all can feel the pressure on ethereum's shoulders, but chances are Vitalik will only release eth2.0 when its good and ready

[Tash]

............release eth2.0 when its good and ready

Why are you claiming they will never release?

[imstillthebest]

the author of this post can be a good preditionist ( something that is good at predictions or predicting ) . he was right that eth 2.0 got delayed again .but are  are there leaked infos  before , before he post this thread at the month of febuary ?

 i knew it , that the fate of eth 2.0 is getting simillar to the etf but i think that etf thing is more worster because people have assumed and posted so many threads or updates and in the end there is still no clear answer to them .

[tvplus006]

the author of this post can be a good preditionist ( something that is good at predictions or predicting ) . he was right that eth 2.0 got delayed again .but are  are there leaked infos  before , before he post this thread at the month of febuary ?

 i knew it , that the fate of eth 2.0 is getting simillar to the etf but i think that etf thing is more worster because people have assumed and posted so many threads or updates and in the end there is still no clear answer to them .

"Ethereum 2.0 developers will run yet another testnet "Zinken" in the coming days as the Spadina testnet didn't go smoothly enough": https://finance.yahoo.com/news/ethereum-2-0-developers-run-083513737.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEe55APtwPh2dMbzWU97o55-c1Sbepy85G_uNJlQeHxtBejqPPo1JNN0Zof-Kv44c-O5zqIVQEnDT-t-a5OtdQLA2-ln3kQ3jiq-xWNPt2-E6HcQgWPV70Ba3MElqyECnaNDNYd_VM7q97c6R_GCZejqcIwToQUJcD8KzSXlVU_Q

Thus, Zinken will be the final testnet before the full launch of Ethereum 2.0. The launch of the Zinken test network is expected "in a week and a half", this information was provided by Danny Ryan, who is the main developer of Ethereum.

[bbc.reporter]

the author of this post can be a good preditionist ( something that is good at predictions or predicting ) . he was right that eth 2.0 got delayed again .but are  are there leaked infos  before , before he post this thread at the month of febuary ?

 i knew it , that the fate of eth 2.0 is getting simillar to the etf but i think that etf thing is more worster because people have assumed and posted so many threads or updates and in the end there is still no clear answer to them .

I disagree hehehe. I might only be one of the quicker people to accept when there is something wrong during the middle of the pump and the hype.

You observe the craziness in the cryptospace for 5 years hehehe.