Ethereum 2.0

[BTC Future 3946]

 

Ethereum will soon release the first stage (Stage 0) of their long-anticipated upgrade of the network. If all goes well the Ethereum 2.0 will begin during this July and it is expected to be met with enthusiasm and massive interest from both the cryptocurrency and the financial world. 

Ethereum has already facilitated and promoted the use of DApps and DeFi products through its platform and now is looking forward to the new era of blockchains where scalability and PoS protocols will be the standard. It is believed that many projects are already making plans to proceed with similar changes in their code and protocols.

The two main changes that we will see with Ethereum 2.0 first stage are:

• Proof of Stake and
• Sharding

Proof of Stake is already on various testnets and the minimum needed to become a validator of the network is 32ETH. There are already more than 100k active addresses holding at least 32ETH and will be able to validate transactions and perform various network procedures while getting rewarded for it. The move from PoW (Proof of Work) to PoS (Proof of Stake) will happen during a transitional period between the three stages that might last many years though.

 

Ethereum 2.0 Phases:

• Stage 0: ETH2 coin is released, swaps will be available from ETH to ETH2. PoS begins and stakes of a minimum of 32ETH can participate.
• Stage 1: Sharding architecture will be enabled on the new chain and it will be divided into 64 shards (different pieces) running together in parallel.
• Stage 2: The old chain migrates to Ethereum 2.0

 

As explained staking will provide passive income. Nothing has been officially released yet and the staking process is only on various testnets. I suggest watching this video by Boxmining that explains the process and that profits might be around $3 daily for the minimum requirements.

 

So, right now these are the most important facts of Ethereum 2.0 that we should know about. It seems that altcoins will shift to a PoS model in the next years and perhaps we will listen to similar proposals coming from the Bitcoin community as well. Although I think that PoW will be the Bitcoin model for at least ten more years before even considering such a bold move.

 

[EDIT]: While it was announced since the beginning of 2020 that Ethereum 2.0 will be released during this summer, the upgrade is delayed once again and its release will probably happen by the end of 2020.

Edited July 11, 2020 by BTC Future

[Whited35 15285]

I think Ethereum 2.0 staking going  to be really impressive as we can get rewards as a return by putting ETH amounts in the network.But still, if core developer teams  do not give the full attentions to speed up the network, it will surely bring the serious problem in the future. Myself, I am getting frustrated due multiple cancellations of transactions(Even I have paid high gas fees). Sometimes,Gas fee will be extra but transactions will not be proceeded in Ethereum network. Anyway, they are implementing PoS  blockchains which means they are focused to be more decentralized. 

[magd 5231]

I have been waiting for the release of this version for a long time and I follow all the articles about it and I was annoyed in the recent period when it was postponed, I have a great positive energy that makes me feel that this version will raise the number of Ethereum traders and raise its price unexpectedly

[rekter 8129]

15 hours ago, BTC Future said:

If all goes well the Ethereum 2.0 will begin during this July

I thought they got rid of the timeline, where did you get this info from? I've been waiting eth.2.0 so long now that i am having hard time believing that they could provide this in a long time. Then again i had doubts with eth 1.0 as well so maybe i should just buy it.

[Raqeebzy 6456]

Ethereum adopting the PoS consensus algorithm will go a very long making it more decentralised and a lot scalable (a very fast network). I read the market minimum holding is 32ETH and return around 6-10%. Maybe it's time to keep buying some ether.

[BTC Future 3946]

2 hours ago, rekter said:

I thought they got rid of the timeline, where did you get this info from? I've been waiting eth.2.0 so long now that i am having hard time believing that they could provide this in a long time. Then again i had doubts with eth 1.0 as well so maybe i should just buy it.

There are many sources but most were explained by the video from Boxmining that I linked on the post. I've read some other articles too but they were saying the same more or less. Here:

 

https://www.youtube.com/watch?v=Z5gKKFszeAA

2 hours ago, Raqeebzy said:

Ethereum adopting the PoS consensus algorithm will go a very long making it more decentralised and a lot scalable (a very fast network). I read the market minimum holding is 32ETH and return around 6-10%. Maybe it's time to keep buying some ether.

The more you have the more you will be earning. the minimum for staking costs around 8K though right now.

Edited June 9, 2020 by BTC Future

[gourav789 2834]

@magd , I also waiting from it from longtime , I think staking is going good in Etherium 2.0 . I also sure many New user's attract toward Etherium or they start to used Etherium for trading Also , hopefully Etherium 2.0 successfuly pump price of Bitcoin .

[Jessica Karren 1242]

I am waiting eagerly for it's launch. I think it's POS will be very good. According to ethereum network there will be minimum 32 ETH required to participate in staking and the rate of return reward will be around 4% to 10%. It's best time to start buying ETH coins.

[Yomose 3704]

The will be a great achievement for ethereum, because I am very sure that this will attract many people to just invest in ethereum, so, if the PoS for ethereum is implemented, let us expect price hike. 

[BTC Future 3946]

On 6/10/2020 at 6:17 PM, Jessica Karren said:

I am waiting eagerly for it's launch. I think it's POS will be very good. According to ethereum network there will be minimum 32 ETH required to participate in staking and the rate of return reward will be around 4% to 10%. It's best time to start buying ETH coins.

 

On 6/11/2020 at 10:29 AM, Yomose said:

The will be a great achievement for ethereum, because I am very sure that this will attract many people to just invest in ethereum, so, if the PoS for ethereum is implemented, let us expect price hike. 

I think that with Eth 2.0 there is high chance that another wave of top projects will appear in the next few years. Don't forget that projects as EOS, Vechain, Tron were all released their coin originally in the Ethereum chain until they managed to create their own chains. Ethereum is not just a platform but an incumbator. Its purpose was this and it succeeded. Hopefully with their new upgrades the scalability issues will be solved until 2021-2022 and the platform will be state of the art.

Edited June 13, 2020 by BTC Future

[BitcryptoHan 2557]

People have been expecting this protocol sorry smart contract to be implemented but yet not yet done. People believes this will even increase the price of ethereum which is certainly correct. 

[BTC Future 3946]

On 6/17/2020 at 8:01 AM, Jin12321 said:

Well this is a very nice concept to increase the price of the eth. Market always respect the rules of demand and supply. And mostly supply is limited. But people by eth as it's is a concept of proof of stakes , hold it and the available of eth is getting low. But still the demand is there. And all organization also depends on eth and their network to run their tokens also.

I have the same thoughts. If ethereum gets better and scalable, it will attract more developers and more demand not only from the blockchain space but from industries and financial institutions. I see it as having real potential, as long as it succeeds in upgrading though.

[AkaCrafterCZ 1140]

Thank you for the meaningful explanation and remarks of the new ETH system. I really believe this will be a huge income for Ethereum investors and that it could highly increase it's price and market cap. Ethereum might be the most known coin with the PoS algorithm. When all of the huge coins (top 10 market cap) started, at that time everyone was using PoW only. But this time Ethereum can migrate and become the strongest Proof of Stake coin.

[nykas 2812]

All people who are interested in cryptocurrency and blockchain have been waiting for Ethereum blockchain update for a very long time and I think this cryptocurrency will be very popular after ethereum 2.0 due to people could earn passively just holding ethereum coins 

[Dorjoy12 8962]

I have a question that when eth 2 version will  published, there has a chance to increas its transaction speed more and the authorities of eth will easily can track the people who do scam by eth....because its much need to stop do crime by altcoin           

[BTC Future 3946]

1 hour ago, Dorjoy12 said:

I have a question that when eth 2 version will  published, there has a chance to increas its transaction speed more and the authorities of eth will easily can track the people who do scam by eth....because its much need to stop do crime by altcoin           

There are many scams going on and scammers are using all blockchains and tokens. Sadly there is no way to reduce scams. There is no authority for this reason besides the actual police and electronic crime authorities in each country. The problem is that they only act if these scammers manage to make many millions from it.

The scams won't change sadly. It is up to us to find out if a project is legit or not.

[Honny143 13612]

ETH 2.o technology really good and so many members waiting when this technology launch, this technology really helpful for increase number of transaction and take low time to confirmed, but its take some time because PoW to PoS change its little bit hard and I think ETH 2.0 launch next year.

[BitcryptoHan 2557]

On 6/8/2020 at 9:58 PM, BTC Future said:

Stage 0: ETH2 coin is released, swaps will be available from ETH to ETH2. PoS begins and stakes of a minimum of 32ETH can participate.

That os why the proof of stake os bias, if you do not have up to 32 ether, it means you can not stake your ether for the PoS, which means their is still centralization of which they thing they want it to be more decentralized. 

[BTC Future 3946]

29 minutes ago, BitcryptoHan said:

That os why the proof of stake os bias, if you do not have up to 32 ether, it means you can not stake your ether for the PoS, which means their is still centralization of which they thing they want it to be more decentralized. 

According to this article (link) there are around 120,000 addresses owning 32 ETH or more. This was known to many for a while now and many people kept 32 ETH just for this reason. Even if half of these adresses participate in staking it might make it more decentralized than now with PoW. It will also be a while before completely switching to PoS. Might take up to 3 years.

[DiamondBit 720]

21 hours ago, BTC Future said:

According to this article (link) there are around 120,000 addresses owning 32 ETH or more. This was known to many for a while now and many people kept 32 ETH just for this reason. Even if half of these adresses participate in staking it might make it more decentralized than now with PoW. It will also be a while before completely switching to PoS. Might take up to 3 years.

What I am trying to say is that ether PoS reward is also centralized to only reach people that have a lot of money to stake. What about those that has less amount of ether? That means they will not he rewarded? Yes. 

[BTC Future 3946]

28 minutes ago, DiamondBit said:

What I am trying to say is that ether PoS reward is also centralized to only reach people that have a lot of money to stake. What about those that has less amount of ether? That means they will not he rewarded? Yes. 

You need 32 ETH minimum to get rewards from staking. Decentralization does not mean that they will reward everyone holding a small amount of ETH, they need nodes to be running and these nodes need this amount of ETH. The nodes will be validating transactions and vote for governance. Even if you have 32 ETH but you don't run a node, then you won't profit. If the 32ETH are staked but your node is not running you also get penalties and the staked ETH are reduced.

[BTC Future 3946]

4 hours ago, Moneyguru said:

I'm sure ETH price will go atleast 700$ in midterm investment.

It might be that ETH price rises. There will be an ETH2 coin as well and we find the dynamics between the two coins. I think that the old ETH native token of the Ethereum platform will become useless after a few months. I hope there won't be need for vast fees to be paid to swap the token though.

[Raqeebzy 6456]

4 hours ago, Moneyguru said:

Many people will be interesting in ETH because they can earn passive income without electricity, and also they can wait ETH price surge. When ETH2.0 start, many people will buy 32ETH and then send it to staking, when this happening, ETH circulating supply will become lower, that will make high demand low supply condition, I'm sure ETH price will go atleast 700$ in midterm investment.

Yeah, I am pretty sure of that. In fact, I have been.making some preparation towards it by accumulating some Ethereum I have been holding since Earlier this year. I am patiently waiting for the launch of ETH 2.0 so I can buy more and stake, I believe I will it will be very interesting.

[mahnyaroi 0]

Atrium version two will be very successful in the coming years because it has surprised everyone in version one

[Yomose 3704]

11 hours ago, Raqeebzy said:

Yeah, I am pretty sure of that. In fact, I have been.making some preparation towards it by accumulating some Ethereum I have been holding since Earlier this year. I am patiently waiting for the launch of ETH 2.0 so I can buy more and stake, I believe I will it will be very interesting.

That is great, not only you is making preparation, people that believe the price of ether will be increased are making preparations like me too, this PoS will really help people. Some big holders are even waiting to buy ether to earn from the rewards.