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Author Topic: Advantages of Ethereum 2.0 ?  (Read 9002 times)

Offline Joseph007

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Advantages of Ethereum 2.0 ?
« on: December 11, 2020, 09:29:08 AM »
     Greetings, there are a lot of news about Ethereum 2.0, and i would like to know what are the main advantages and benefits of

     Ethereum 2.0 ?

     May be it is gonna have lower fees ?

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Advantages of Ethereum 2.0 ?
« on: December 11, 2020, 09:29:08 AM »

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Re: Advantages of Ethereum 2.0 ?
« Reply #2 on: February 12, 2021, 10:53:13 AM »
The advantages of Ethereum 2 are numerous and not only improve the problem of transaction fees (which are now very high)but it also improves many other qualities, if you want to know more about everything new it offers you can read the article I read a few months ago.

What is Ethereum 2.0?: https://medium.com/coinmonks/what-is-ethereum-2-0-1c8ad1cface6
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Re: Advantages of Ethereum 2.0 ?
« Reply #3 on: February 12, 2021, 02:20:58 PM »
     Greetings, there are a lot of news about Ethereum 2.0, and i would like to know what are the main advantages and benefits of

     Ethereum 2.0 ?

     May be it is gonna have lower fees ?
The core purposes of etherum 2.0 is to improve the ecosystem and also to reduce the scalability related to transaction fees and network clogging. The 2.0 etherum launch is reported to also help miners. We await the full launch

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Re: Advantages of Ethereum 2.0 ?
« Reply #4 on: February 12, 2021, 03:52:14 PM »
     Greetings, there are a lot of news about Ethereum 2.0, and i would like to know what are the main advantages and benefits of

     Ethereum 2.0 ?

     May be it is gonna have lower fees ?

there are very many advantages of eth 2.0 one of which is the transaction per second block will rise to 100k block / second of course this is very fast so that allows the transaction cost to be as low as it used to be.

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Re: Advantages of Ethereum 2.0 ?
« Reply #5 on: February 12, 2021, 04:39:18 PM »
"Ethereum 2.0 is an upgrade to the already existing Ethereum blockchain. It aims to increase the speed, efficiency, and scalability of the Ethereum network, enabling it to address the bottlenecks and increase the number of transactions. The pseudo names for Ethereum 2.0 are Eth2 or Serenity."
This is what google tells us.

And yes, the fees will be cheaper after the Ethereum 2.0 implementation. But there is still a long way to go. Ethereum 1 will be further developed, along the way the fees will also be cheaper. So it is planned.
Both Ethereum versions will exist in parallel for years.
From a technical point of view, it is a new chain and thus also a new token. This token also initially has completely different capabilities. Since the Ethereum 2.0 token on the Beacon Chain cannot be transferred back to the Ethereum 1.0 Chain, it can be assumed that a market for the ETH2 token will develop. Then the ETH 1.0 token and the ETH 2.0 token will have different rates. But since you can switch from ETH 1.0 to ETH 2.0 at any time (but not the other way around), the price for the ETH2 token should never be higher than the price of ETH. But maybe below. Translated from here: https://www.blockchaincenter.net/ethereum-2/#was

What happens to the smart contracts on the previous chain? 
The Ethereum 1.0 chain, including all smart contracts, will continue to exist forever. Over time, however, they will lose more and more importance because new projects use the new chain at some point.

If you want you can read this too:
https://decrypt.co/resources/what-is-ethereum-2-0

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Re: Advantages of Ethereum 2.0 ?
« Reply #6 on: February 12, 2021, 06:04:09 PM »
Ethereum's price has been rising so much since the launch of Ethereum 2.0. The current Ethereum price is around 2000 dollars and will soon reach 2000 dollars. But what will happen if the price of Etherium increases. The transaction fees has increased several times due to which the loss is more than the profit if some token sells are given.
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Re: Advantages of Ethereum 2.0 ?
« Reply #6 on: February 12, 2021, 06:04:09 PM »


Offline XM8

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Re: Advantages of Ethereum 2.0 ?
« Reply #7 on: February 13, 2021, 03:39:55 AM »
Ethereum 2.0 technology is an updated technology of Ethereum. Through which transactions can be done more easily and securely. Ethereum's biggest problem right now is its excess gas free. But if Ethereum's gas free will be greatly reduced if ETH2.0 technology can be successfully marketed. And we can easily transact anything without extra gas free.
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Re: Advantages of Ethereum 2.0 ?
« Reply #8 on: February 18, 2021, 05:04:38 PM »
Ethereum 2.0 technology is an updated technology of Ethereum. Through which transactions can be done more easily and securely. Ethereum's biggest problem right now is its excess gas free. But if Ethereum's gas free will be greatly reduced if ETH2.0 technology can be successfully marketed. And we can easily transact anything without extra gas free.
According to Vitalik Buterin, what you said, everything will be, but only in a certain future. The Ethereum 2.0 update has not yet been completed and we have seen only a few phases of it successfully completed. I believe that the scalability problem will be addressed consistently.

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Re: Advantages of Ethereum 2.0 ?
« Reply #9 on: February 18, 2021, 05:24:37 PM »
"Ethereum 2.0 is an upgrade to the already existing Ethereum blockchain. It aims to increase the speed, efficiency, and scalability of the Ethereum network, enabling it to address the bottlenecks and increase the number of transactions. The pseudo names for Ethereum 2.0 are Eth2 or Serenity."
This is what google tells us.

And yes, the fees will be cheaper after the Ethereum 2.0 implementation. But there is still a long way to go. Ethereum 1 will be further developed, along the way the fees will also be cheaper. So it is planned.
Both Ethereum versions will exist in parallel for years.
From a technical point of view, it is a new chain and thus also a new token. This token also initially has completely different capabilities. Since the Ethereum 2.0 token on the Beacon Chain cannot be transferred back to the Ethereum 1.0 Chain, it can be assumed that a market for the ETH2 token will develop. Then the ETH 1.0 token and the ETH 2.0 token will have different rates. But since you can switch from ETH 1.0 to ETH 2.0 at any time (but not the other way around), the price for the ETH2 token should never be higher than the price of ETH. But maybe below. Translated from here: https://www.blockchaincenter.net/ethereum-2/#was

What happens to the smart contracts on the previous chain? 
The Ethereum 1.0 chain, including all smart contracts, will continue to exist forever. Over time, however, they will lose more and more importance because new projects use the new chain at some point.

If you want you can read this too:
https://decrypt.co/resources/what-is-ethereum-2-0
It seems that many will switch to ETH2, will ETH2 still use ERC20 in the future? The development of ETH2 will be eagerly awaited by the crowd
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Re: Advantages of Ethereum 2.0 ?
« Reply #10 on: February 22, 2021, 03:24:53 AM »
For now Ethereum 2.0 doesn't have a good function because it doesn't have a significant effect on the development of Ethereum.
Ethereum 2.0 provides a great deal of change such as reduced transaction fees, transaction speed and validator in Staking with 32 Ethereum deposits.
But all of them are constrained by only one point, namely the very expensive transaction fee and that everyone doesn't like it.

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Re: Advantages of Ethereum 2.0 ?
« Reply #11 on: February 22, 2021, 05:17:07 AM »
As far as I know about Ethereum 2.0 technology this technology is a very modern technology of current technologies.The blockchain of this technology is more advanced and secure. Transactions can be done on this platform with a lot of security.And the problem we are currently suffering from is hopefully we will get rid of this problem with the advent of Etherium 2.0 technology.
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Re: Advantages of Ethereum 2.0 ?
« Reply #12 on: April 22, 2021, 01:28:37 AM »
As far as I know about Ethereum 2.0 technology, this technology will not only reduce Ethereum's gas fee but also increase Ethereum's popularity among the people.Because many new features have been added to this Etherium 2.0 technology.
Hopefully this technology will be launched in a successful way.
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Re: Advantages of Ethereum 2.0 ?
« Reply #13 on: April 22, 2021, 08:34:12 AM »
Actually at this moment Etherium is very popular currency in the crypto currency market. However Etherium has introduced Etherium2.0 technology ; which has made etherium very easy and smart for transection. Using this technology the etherium users can get many benefit.

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Re: Advantages of Ethereum 2.0 ?
« Reply #14 on: April 22, 2021, 02:11:18 PM »
The advantages of Ethereum 2 are numerous and not only improve the problem of transaction fees (which are now very high)but it also improves many other qualities, if you want to know more about everything new it offers you can read the article I read a few months ago.

What is Ethereum 2.0?: https://medium.com/coinmonks/what-is-ethereum-2-0-1c8ad1cface6

Yes I hope Ethereum 2.0 will solve gas fee problem. I have read many opinion here, they said Ethereum 2.0 completely, we will see the low gas fee. They said we would wait until July this year  . Let's see.

 

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