Ethereum 2.0 what to expect

[BIN-BIN]

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

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[zasad@]

It took very little time to draw conclusions. Only part of the fees will be burned, and this will slightly reduce coin inflation.
So far, miners receive a large reward and every year the POW algorithm generates more than 4,200,000 new coins.
The most interesting thing will be when these coins stop being generated and Ethereum becomes more expensive.

[shinratensei_]

What are your expectations from this and how it will affect the overall ethereum ecosystem?

it seems like the burned mechanism will fight the inflation that is already generated by the miners.
In my opinion, if this mechanism has become an alternative way to prevent the inflation in ethereum blockchain caused by miners and at the same time, the ethereum blockchain will not lose its decentralization.
The new fees mechanism will attract more and more developers that already migrated to the second layer solution to go back again to the ethereum ecosystem

[btc_angela]

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

Obviously, as it burned and getting scarce, the price will definitely increase overtime.

But at this point, it's too early to say what will happen in the future. There could be another road block for Ethereum in such a way that the price will be stagnant again for a while before the devs will find another solution. So don't get excited, scarcity is good in the long run though but it will take some time to really see the outcome.

[Macadonian]

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

Obviously, as it burned and getting scarce, the price will definitely increase overtime.

This is not obvious and there is no guarantee that the price will increase because the fees get burned stop spreading false information.

[RILWAN]

The ethereum London hard fork will eliminate miner hold on the ethereum blockchain. The transaction fees will now reflect the true network system, miners will no longer manipulate the network just to increase transactions fees.

[Macadonian]

The ethereum London hard fork will eliminate miner hold on the ethereum blockchain. The transaction fees will now reflect the true network system, miners will no longer manipulate the network just to increase transactions fees.

It makes it more decentralized and stops greedy miners but it will not make the coin worth more than it is now a lot of people are not aware of the corruption that miners could bring to the coin.

[BIN-BIN]

It makes it more decentralized and stops greedy miners but it will not make the coin worth more than it is now a lot of people are not aware of the corruption that miners could bring to the coin.

I believe the hard fork will eliminate the miner’s manipulation and making fees decentralized from miner and network will control the transactions fees fluctuation, making the ethereum free from being artificially congested by miners all to hike transaction fees.

[passwordnow]

The London hardfork is done successfully but we're not yet to see the effect of it with its decreased in transaction fees. We'll see that for sure but right now, we have to wait until everything settles as it's still fresh. Current fee is high at 60 gwei and that's really unlike before the London hard fork which fees have been seen on 1 gwei which was really low and awesome at that time. But we cannot do much anything about that and wait until the result of it takes effect.

[Hannahanto]

The eth 2.0 has been overhyped already and pretty much the transaction fees won't go any lower instead everything on eth will increase cause mining of Ethereum will stop and the primary way to generate new tokens will be from staking. It's supposed to be the year for ETH2.0 but with the way things are going it seems it won't happen until 2022. Sure till then Ethereum would be much better I guess. The vision of the ETH2.0 is to bring Ethereum into the mainstream and serve all of humanity,making Ethereum more scalable, secure, and sustainable. And I see this attributes happening already in the NEAR Ecosystem. Just a better version of the overhyped ETH2.0

[rosebrand]

Finally the long awaited event has been carried out, the Eth 2.0 has been launched after the long wait, well there is no effect yet on transaction fees, let's just see how the coming days will be like, all we got to do is sit and watch how the eth 2.0 plays out, for me instead of waiting I do uses the Near protocol blockchain which posseses the hyped features of the Eth 2.0, even creates a greener option for the ethereum users using  Aurora built on the Near blockchain.

[Quidat]

Finally the long awaited event has been carried out, the Eth 2.0 has been launched after the long wait, well there is no effect yet on transaction fees, let's just see how the coming days will be like, all we got to do is sit and watch how the eth 2.0 plays out, for me instead of waiting I do uses the Near protocol blockchain which posseses the hyped features of the Eth 2.0, even creates a greener option for the ethereum users using  Aurora built on the Near blockchain.

Yeah, current fees are way too high and we would see those effects maybe in weeks time or later days since we arent still in 24 hours before that London fork event happened.
This is actually a good change on where burning out those ETHs which as this would go for long term then ETH would be lesser and lesser and it isnt bad to consider to make
some investment or holding some Eth as of this moment yet we can already presume on where it would be heading.If demand would be getting more bigger and the
overall supply is getting lesser then expect for some high price in the future.

[DarkDays]

It took very little time to draw conclusions. Only part of the fees will be burned, and this will slightly reduce coin inflation.
So far, miners receive a large reward and every year the POW algorithm generates more than 4,200,000 new coins.
The most interesting thing will be when these coins stop being generated and Ethereum becomes more expensive.

The last point about when ETH will stop being generated is an interesting one, but as theory dictates the process for minting new coins gets exponentially more

difficult so what might affect the price more rapidly is not so much the supply side (which is slowing down over time) but the demand side, and if the London

upgrade delivers on fees I think the demand will take ETH price to a new level. The market has moved already but the true potential is to be observed in due course.

[Hobo66]

People says that this Eth 2.0 will reduce the Etherium transaction gas price. Even if ETH 2.0 solves this problem, its no good for investors for gas fees to go down. Lowering gas fees would mean lowering the demand of coins which will bring the price going down. Its simple supply and demand. A small $20 ETH contract will cost you $50-$70 in fees. And how are they gonna solve that? make the fees $10? Thats still ridiculous for a $20 transaction. Make is $2? YES! So ETH 2.0 will kill ETH itself. Thats funny.

[TravelMug]

I'm not really aware on what's with Ethereum 2.0 does it make the transaction much cheaper? if that's the case well then I think it would be much better but I don't like the idea of the burning though it would increase the price the supply would decrease. What could be the advantage of the Ethereum 2.0?

Err? Supply and Demand? Less supply and more demand = price going to spike, basic economic law.

But we need to wait and see what will be the effect, we can't see it right away. I'm not sure if the fees are going lower though as of this time, it is still very high and the complains keeps going again.  The fork was supposedly solve this issue and yet we are not seeing it. But I will give it a benefit of the doubt, and wait like a week or two after the implementation to see the the most touted impact on the fees.

[ethereumhunter]

What to expect? I am sure we all expect that can make ethereum get another bullish time to lift the price can back to $3,000 from the update so we can back to make a big profit. But it seems the change will happen later and not have a direct impact on the price. However, the price can increase to $2,800 before, giving a chance for the price to increase more. Hopefully, that can happen this weekend or next week. I hope we all can be ready to sell ethereum at our target price.

[Xinarae*]

Ethereum 2.0 is expected to mean that ethereum is almost 2k the way in which the demand for investment in the market is going to increase for the price increase is going to cross 3k this year the bull run will return to the market again. Ethereum should be held to make more profit without selling to increase the price of ethereum This is a new opportunity to increase prices nothing will affect it because the demand for investment in the market is increasing.

[bitkanu]

The ethereum London hard fork will eliminate miner hold on the ethereum blockchain. The transaction fees will now reflect the true network system, miners will no longer manipulate the network just to increase transactions fees.

It seems like that ethereum developers are changing its plan to not eliminate the miners. As far as i know that miners have been significantly contributing to the network. I do believe ethereum will be going to the hybrid mode. Miners have no power to manipulate the traffic dude, Think again

[goolesby]

EIP-1559 aims to reduce the volatility of Ethereum fees by introducing a mechanism to eliminate some of those transaction fees, which should slow down token issuance. The impact on the price of Ethereum could be similar to a Bitcoin halving event, where adjustments cut the supply of bitcoin and push its price to record highs. There are a lot of numbers floating around in the market about the potential impact that has a halving magnitude with Bitcoin, they are all pretty positive drivers that I think have seen a pretty strong revaluation.

[cryptoknows]

As developers keep improving the ethereum blockchain, even though previous ethereum hard forks failed to solve the problem of high fees in the ethereum blockchain.

But with the new London fork proposal 1559 which will offer a new fee system that burned all transactions fees instead of miners determining the fees, this will remove more ethereum from circulation causing demand to rise because of scarcity which will ultimately lead to an increase in price and fewer transactions on the ethereum network.

What are your expectations from this and how it will affect the overall ethereum ecosystem?

Don't you think this is a paradox? Reducing the emission of ETH will entail an increase in the price, but for the reason you cited with the miners, they will no longer be able to set the price for processing transactions. But what will change? After all, the higher the price of Ether, the higher the price of gas, even with less gas, but with a high cost of Ether, the situation will not change with transactions, this is a utopia. Ether and its network will not fix anything, it's time for developers to switch to new, more convenient blockchains such as Near, Solano, Polkadot, which one of these projects in the future will 100% replace Ether with its outdated technologies