Ethereum 2.0 - Everything You Need to Know About Eth-2.0 [New]

[cryptopediabd]

What to expect from Ethereum 2.0?
The features of the latest updates will take years, and there is a lot of work to be done in every stage.

ETHEREUM 2.0 reolutinary blockchain update?
Everybody has heard of Ethereum 2.0 and is looking forward to its launch in 2020. While developers are working hard to bring it to life, let’s figure out why it’s such a big deal. Ethereum 2.0, or Eth2, is an upgrade to the Ethereum blockchain that aims to make the network more scalable and secure while keeping it decentralized.

Concepts Central to Ethereum 2.0
The idea is to enable blockchain transition from PoW to PoS to enhance transaction throughput, make the network more accessible, and resistant to cyber-attacks. There are three key concepts at the core of Eth2 that make it all possible:

Casper
Casper is a consensus algorithm serving as an overlay on top of PoW and enabling the transition to the new protocol. Besides, Casper will ensure security by punishing validators who vote for several forks or harm the network in any other way.

Shards
Shards are standalone chains into which the blockchain is divided to increase transaction volume and speed up the network performance. Each node will be assigned to a particular shard and have to process and maintain only the data on that shard instead of uptaking the whole network transactional load.

Beacon chain
Beacon chain delivers the Casper PoS protocol and provides consensus between all shards. Each shard reports its state and transaction history to the beacon chain that makes it available for the whole network, ensuring cross-shard communication.

Eth2 has been much awaited in the blockchain community. It promises to deliver the scalability, security decentralized networks need to break the new ground.

Now the question is will it be a successfull upgrade? What is your opinion on Eth-2.0 update? Share with us!! !

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[JeromeTash]

Now the question is will it be a successfull upgrade?

It better be successful, Because if it does not, Ethereum is doomed. The only problem is POW seems a little more decentralized as compared to POS

What is your opinion on Eth-2.0 update? Share with us!! !

Personally my issue at the moment is fees. The upgrade would reduce the transactions fee-burden which we are experiencing on the Ethereum network right now. Hell, Ethereum is not even near 1/3 of the bull run it had back in 2017-2018, Imagine what the transaction fees would be if tried to hit $1,500  on the current POW algorithm. So much for a network that was created to have much lower transaction fees than Bitcoin's  

[TastyChillySauce00]

Now the question is will it be a successfull upgrade? What is your opinion on Eth-2.0 update? Share with us!! !

It will and have you seen the casper implementation? it was getting successful and this time for us to see the ice age implementation to determine the total supply as a part of the preparation for ethereum POS.

I have known all of the EIPs that have already included on this update and ethereum will be also scaling its blockchain up to 100k TPS which is more than enough for me personally to see that.

Rome was not built in a day. This event is a very interesting thing..

[(o)(o)ilikeboobs(o)(o)]

I have heard the advice and that sounds like a good theory. Ethereum 1.0 has too many bugs and is as bad as it is now. The problem of upgrading an old platform to something hundreds of times better is a difficult one. They have to rewrite almost the whole thing and discard the old one. How long is the future upgrade time for technology transfer? And will there be more problems after the upgrade?
They said 2020 is coming, but we're almost three-quarters of the time away.

[Ucy]

In regards to sharding, what "Blockchain" are they dividing into standalone "chains"? What are the standalone chains like?
What I read/watch about shards months ago wasn't really encouraging. I wonder how antifragile a crypto that is based on that can be. I hope this kind of sharding is good for decentralized tech or crypto network though. Probably will look for latest articles/videos on that.

The cryptocurrency PoS based consensus i read about last year or so doesn't really sound good for a decentralized tech.

[bttmember]

Apparently the delays in the eth 2.0 are just due to the fact that the eth developers want a smooth transition and bug free eth 2.0 network so i am confident that eth 2.0 willbe successful.

[disconnectme]

I think this is going to be successful, the team can not afford to spoil the party, all they will need is time to finalise the platform before release, with the look of things I don't think they will release Ethereum 2.0 this year, maybe first quarter of 2021.

[bitmover]

Probably the best source of information about ethereum 2.0 is the Proof of Stake FAQ in the ethereum official github:

https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ

Ethereum 2.0, ethereum casper, should have launched in 2017. It is very late.... We can only hope that it is not going to be delayed forever and never released. This would be the end of ethereum, which would be only a big bubble in the end.

[AmoreJaz]

I think this is going to be successful, the team can not afford to spoil the party, all they will need is time to finalise the platform before release, with the look of things I don't think they will release Ethereum 2.0 this year, maybe first quarter of 2021.

this is the reason why they are running this bug bounty to test their network.

https://blockchain.news/news/ethereum-calls-hackers-attack-ethereum-exchange-bug-bounty

and checking the leaderboard of their bug bounty program- someone is leading the pack. is he going to get the price?
https://bounty.ethereum.org/

[codpku]

To beat bitcoin and taking the first place as a crypto king ethereum should make it fast, launch eth 2.0 as soon as possible with all the update improve
With all the upgrade that can promises to deliver the scalability, security decentralized networks
With ethereum 2.0 i hope lot project with great idea to and help us in our life will born 63
And make defi  more improve with upcoming ethereum 2.0
I hope vitalik and the team make it fast

[Coyster]

To beat bitcoin and taking the first place as a crypto king ethereum should make it fast, launch eth 2.0 as soon as possible with all the update improve

Sorry, but Ethereum 2.0 can't do that, I know eth holders are expecting big things from eth 2.0 when it's launched and I prolly think it will come with considerable improvements on the ethereum network, but there's no chance Bitcoin will be second to it, Bitcoin has a far higher price, market cap and volume. You also seem to forget Bitcoin had a major event this year (halving) and btc will likely go above the ath prolly next year.

And make defi  more improve with upcoming ethereum 2.0
I hope vitalik and the team make it fast

IIRC Vitalik has warned the users allured to the DeFi hype, and the risks of scam in it.

[Ucy]

I think this is going to be successful, the team can not afford to spoil the party, all they will need is time to finalise the platform before release, with the look of things I don't think they will release Ethereum 2.0 this year, maybe first quarter of 2021.

this is the reason why they are running this bug bounty to test their network.

https://blockchain.news/news/ethereum-calls-hackers-attack-ethereum-exchange-bug-bounty

and checking the leaderboard of their bug bounty program- someone is leading the pack. is he going to get the price?
https://bounty.ethereum.org/

I wonder how the site above the image is run. Centralized non-transparent sites that demand for kyc, have controlled/centralized teams, that monitor users/private data, have no public accountability etc  will definitely scare away those who could also/potentially solve lots of problems and expose lots of bugs. I think this is one of the reasons public projects should be totally open, transparent, decentralized, permissionless, trustless, truely protect users privacy, etc .   You'll expect or assume that every user has useful problems/bugs that developers need to look into and address.
Running public projects like private companies will make the public (who are actually part owners) see it that way - and avoid participating. A decentralized crypto network is bigger than a company. It's more like an autonomous Nation and should be run like that. Hope the site is transparent and not centralized, considering such big influence it's having on public network/system

[Princejebs]

I can bet my portfolio, if ethereum upgrade fail to scale up, believe me, ethereum blockchain will loose many projects big time. Looking on how they are shilling Polkadot on different crypto communities.
I hope the upgrade becomes successful, this hyper fee transaction is killing dreams of micro investors and bounty hunters.

[peter0425]

Actually my Question is when this will be going to lunch?

The last thing i heard is this September but it looks like nothing is talking about it again?

I have been waiting for this the whole year because i believe that this will Bring me fortune from my Ethereum Holding,So making the launch this September will surely Go best until December.

[Argoo]

I can bet my portfolio, if ethereum upgrade fail to scale up, believe me, ethereum blockchain will loose many projects big time. Looking on how they are shilling Polkadot on different crypto communities.
I hope the upgrade becomes successful, this hyper fee transaction is killing dreams of micro investors and bounty hunters.

Buterin claims that already at the first stage of the implementation of Ethereum 2.0 improvements, the scaling of this coin will grow to thousands of transactions per second. This is already quite significant compared to the current 15-30 transactions. In a few years, he promises that ethereum will increase its throughput to one hundred thousand transactions per second. Even if half of this speed is reached, ethereum will still completely solve its scalability problem.

[Convery]

I am glad to see that there are more and more scalable solutions for Ethereum, like XDAI, that are not trying to compete with Ethereum, but helps it right now. And later when Ethereum comes with the solution Ethereum 2.0, developers don´t have to migrate from other chains back to Ethereum . For me it smarter then creating another "Ethereum killer". 

[cabron]

Now the question is will it be a successfull upgrade? What is your opinion on Eth-2.0 update? Share with us!! !

I'd hope it will be a success because it would be a disaster if it won't. They are very careful to this release and it could be the reason why this had been delayed for months for they could be testing all the possibilities of vulnerabilities to the new upgrades. A thousand per second is already a good cause for celebration than just the 15.

Exciting times but also something to worry if you heavily put your funds to staking ETH soon.

[kingzpro]

Is it only me who feels highly excited and even euphoric whenever i read posts like these especially about eth 2.0 and the upgrades and solutions it is coming up with?
Seriously Ethereum is going to dominate the market with all these things obviously of rolls out successfully and smoothly.

[articlecity]

If the Eth developers are able to launch eth 2.0 by estimate timeframe of around november a big fomo can kick in the market. Especially from the people and big investors who want to stake ethereum for regular income, so i expect next few months after eth 2.0 to be crazily bullish for eth and this time around eth could be the first parabolic mover in the market due to huge eth 2.0 upgrades.

[Lordhermes]

Actually, eth2.0 launch would take a lot of time before its life, with these feature and new implementation listed by op, I really think the new version will hit much, mostly more reliable, security conscious, fast transaction coefficient, and many, but the issue that's not discussed about is the transaction fees, as it is now, ETH transaction fee is pretty high and had created stuck transactions to users thats trying to created contract address also. If allbthses feature be made plus that of the fee to be low as well, then eth2.0 would be at high peak when it launches, probably before the year ends.