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Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: MrSpasybo on November 24, 2020, 11:33:14 AM

Title: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: MrSpasybo on November 24, 2020, 11:33:14 AM
Eth2’s beacon chain genesis has been confirmed for Dec. 1 following the transfer of 524,288 Ether (ETH) from 16,384 validators into the Eth2 deposit contract since it went live on Nov. 4.

Despite early concerns stemming from low staking participation, transfers to the deposit contract rapidly increased over the past day, with more than 200,000 ETH sent to the contract in the past 14 hours.

(https://s3.cointelegraph.com/uploads/2020-11/02518c13-1492-4fb8-a5aa-af7e0ae9bd4b.png)
Ether sent to deposit contract over time: Dune Analytics

(https://s3.cointelegraph.com/uploads/2020-11/c0fc0d09-bcec-49ba-8c49-74ac2408d21f.JPG)
The deposit contract’s threshold was met with roughly nine hours to go until its deadline.

Article: Ethereum 2.0 confirmed for Dec. 1 launch just hours before deadline (https://cointelegraph.com/news/eth-2-0-confirmed-for-dec-1-launch-just-hours-before-deadline)

Finally, we can be assured of the planned launch of ETH2.0. The Ethereum fan community did the miracle on the last day of Nov 24, 2020.
Congratulations to Vitalik Buterin & teammates. We are waiting to experience ETH2.0.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: hair on November 24, 2020, 12:45:34 PM
We are waiting for the changes that will occur in Ethereum Network

In your opinion, will ETH 2.0 succeed in reducing the current high cost of gas?
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: hushpupppy on November 24, 2020, 01:32:29 PM
Quote from: hair on November 24, 2020, 12:45:34 PM
We are waiting for the changes that will occur in Ethereum Network

In your opinion, will ETH 2.0 succeed in reducing the current high cost of gas?

I suppose it is rumored that the etherum 2.0 will succeed in reducing the high cost of gas; but the most unreplied questions has not be answered; if eth 2.0 reduces the high cost of gas; what then happens to miners; is there some form or sorts of compensation that the eth 2.0 brings for them or its more ?

In my own opinion; i think more unraveling will occur as soon as eth 2.0 launches.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: wxxyrqa on November 24, 2020, 01:56:17 PM
Quote from: hushpupppy on November 24, 2020, 01:32:29 PM
Quote from: hair on November 24, 2020, 12:45:34 PM
We are waiting for the changes that will occur in Ethereum Network

In your opinion, will ETH 2.0 succeed in reducing the current high cost of gas?

I suppose it is rumored that the etherum 2.0 will succeed in reducing the high cost of gas; but the most unreplied questions has not be answered; if eth 2.0 reduces the high cost of gas; what then happens to miners; is there some form or sorts of compensation that the eth 2.0 brings for them or its more ?

In my own opinion; i think more unraveling will occur as soon as eth 2.0 launches.
The fact is that Ethereum 2.0 will work according to the PoS algorithm, that is, each validator will receive a reward in the form of staking. But in any case, the only problem for today is to wait for the Ethereum 2.0 update and for the deposit contract to collect the required amount of Ethereum.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: MrSpasybo on November 24, 2020, 01:56:44 PM
Hahaha, interesting question. My frined also asked: will ETH2.0 cause ETH price to drop :)
Here's my opinion: when ETH2.0 really goes live with POS and greater scalability, say 15,000 tps instead of 15tps, the market's transactional demand is 20,000 tps.
Currently: ETH1.0 15tps, the transaction price will be $10/transaction (example)
After this: ETH2.0 15Ktps, the transaction price will be $0.01/transaction (example).

But the number of transactions also increased, so the miner profit did not decrease. More precisely, this profit will go to staking forgers, because miners only exist in the POW blockchain.
Furthermore, since staking does not require investments in machinery, electricity, labor, transaction costs will be reduced further and the entire community will receive this value.

ETH price is only partially dependent on the cost of mining, its main driver is market demand. And I think when transaction speed & cost is solved, activity on Ethereum blockchain will explode, and so will the need to use & own ETH. Under this scenario, ETH price will continue to rise.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: Zed0X on November 24, 2020, 03:51:44 PM
Quote from: MrSpasybo on November 24, 2020, 11:33:14 AM
~ Finally, we can be assured of the planned launch of ETH2.0. The Ethereum fan community did the miracle on the last day of Nov 24, 2020.
I wouldn't call it a miracle. Stake participants/Validators sure took their sweet time because, as earlier said, there were no added benefits for joining the party early.

Quote from: MrSpasybo on November 24, 2020, 01:56:44 PM
~ ETH price is only partially dependent on the cost of mining, its main driver is market demand. And I think when transaction speed & cost is solved, activity on Ethereum blockchain will explode, and so will the need to use & own ETH. Under this scenario, ETH price will continue to rise.
Great inputs there and I like that you mentioned market demand as the main driver. If I may add, let's also put into consideration security. I'm pretty sure attackers are always there waiting for opportunity. Any successful attack on the network will cause panic selling and it'll affect Ethereum's reputation badly.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: Raboni on November 24, 2020, 03:56:07 PM
Finally, the long wait is over. The launch of eth 2.0 could make more miracle than what's happening now. The effect would be bull run. Haha. Then all altcoins will go with the flow. Time to have a good new year celebration to those who have investment.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: sky20 on November 24, 2020, 04:28:15 PM
Quote from: MrSpasybo on November 24, 2020, 11:33:14 AM
Eth2’s beacon chain genesis has been confirmed for Dec. 1 following the transfer of 524,288 Ether (ETH) from 16,384 validators into the Eth2 deposit contract since it went live on Nov. 4.

Despite early concerns stemming from low staking participation, transfers to the deposit contract rapidly increased over the past day, with more than 200,000 ETH sent to the contract in the past 14 hours.

(https://s3.cointelegraph.com/uploads/2020-11/02518c13-1492-4fb8-a5aa-af7e0ae9bd4b.png)
Ether sent to deposit contract over time: Dune Analytics

(https://s3.cointelegraph.com/uploads/2020-11/c0fc0d09-bcec-49ba-8c49-74ac2408d21f.JPG)
The deposit contract’s threshold was met with roughly nine hours to go until its deadline.

Article: Ethereum 2.0 confirmed for Dec. 1 launch just hours before deadline (https://cointelegraph.com/news/eth-2-0-confirmed-for-dec-1-launch-just-hours-before-deadline)

Finally, we can be assured of the planned launch of ETH2.0. The Ethereum fan community did the miracle on the last day of Nov 24, 2020.
Congratulations to Vitalik Buterin & teammates. We are waiting to experience ETH2.0.
That's good news. Ethereum lover are waiting for that day. If it is implemented then crypto will get the new sprit. Ether price obviously increase there is no doubt about it. Just wait for some times.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: Astra on November 24, 2020, 06:20:23 PM
Very good news regarding the timely launch of Ethereum 2.0 Phase 0, which is scheduled for December 1st.  I was worried about collecting ethereum on a deposit contract.  After all, otherwise the launch could be postponed at least at the beginning of January next year.  And this, in turn, would slow down the price growth of ethereum.  Now we expect to see the price of ethereum by the end of the year somewhere around $ 800.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: Istiak on November 24, 2020, 06:21:44 PM
If any remaining critical issue has been solved then the date is final. I think many people more concerned about ETH network gas fees. It increased with the price of ETH. So many people expecting the gas price lowered by launching ETH 2.0. Hope this will be beyond our expectation.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: dragononcrypto on November 24, 2020, 11:01:41 PM
It's pretty amazing to see the growth in the deposits, especially today with another 240K ETH deposited. Most people had lost faith of the beacon chain launching this year, and now we are less than 7 days away it's incredible! To think Ethereum has spent 5 years working towards this means a lot.

To think there is $420 million Ether locked up in this upgrade is impressive. If it were in the DeFi locked up market cap list, it'd be ranked no.11  8)
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: bigcash2011 on November 24, 2020, 11:17:34 PM
Some people cannot believe that how fast over 520k eth are deposited into the eth 2.0 deposit contract but i think it was slow initially because many were not aware about it as soon as the message went across everyone went on board quickly anyways lets hope eth 2.0 will be game changer for us.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: dekafee79 on November 25, 2020, 01:22:29 AM
Quote from: hair on November 24, 2020, 12:45:34 PM
We are waiting for the changes that will occur in Ethereum Network

In your opinion, will ETH 2.0 succeed in reducing the current high cost of gas?

Wait and see mate, I see many people have believed ethereum 2.0 launch will solve the gas issue. But I don't think It will be.
We all don't know when Ethereum 2.0 launch and what advantages of it.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: MRM on November 25, 2020, 09:06:03 AM
I don't know the exact details of the launch of Ethereum 2.0. However, I think the price of eth will increase a lot after it is launched. At present it is constantly increasing. Because people are always buying eth in a hurry. Because they want to benefit from the launch of eth 2.0. So I think they should all wait longer.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: bitbit97 on November 25, 2020, 09:15:20 AM
Isnt it that on December 1 only stacking program will officially start, but the whole release of Ethereum 2.0 is still postponed? That does not make sence then. They postponed 2.0 several times, but with raising enough eth they will release it? Raising enough cant be a reason to postpone.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: thesaintcrypto on November 25, 2020, 12:07:38 PM
Quote from: hushpupppy on November 24, 2020, 01:32:29 PM
I suppose it is rumored that the etherum 2.0 will succeed in reducing the high cost of gas; but the most unreplied questions has not be answered; if eth 2.0 reduces the high cost of gas; what then happens to miners; is there some form or sorts of compensation that the eth 2.0 brings for them or its more ?
They'll change their names to Stakers, and will freeze minimum 15000 USD in ETH for two years. I am sure that ETH 2.0 will definitely cause gas price decrease, as its capacity will be hundreds times higher. It should be added that the miners will receive modest rewards (around 6% APY). We need to get used to the fact that Ethereum is no longer a children's toy that could be mined on an old video card, but a serious project that requires a lot of money, knowledge and experience.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: Carbitcoin on November 25, 2020, 05:54:18 PM
I think we need to wait for new information from the team regarding update 2.0, since the deposit contract is already full and on Monday, in the last four hours, we collected the last 25% of the required amount of Ethereum.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: Cristiano on December 05, 2020, 10:01:40 AM
Ethereum 2.0 has already been launched but no change in gas fees has been observed.  Everyone thought that if Ethereum 2.0 was launched, there would be a lot of changes in gas fees.  It will be much less.  But the price of etherium has gone up a lot.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: Malam90 on December 05, 2020, 02:05:14 PM
Quote from: Mad Max on December 05, 2020, 10:01:40 AM
Ethereum 2.0 has already been launched but no change in gas fees has been observed.  Everyone thought that if Ethereum 2.0 was launched, there would be a lot of changes in gas fees.  It will be much less.  But the price of etherium has gone up a lot.

Ethereum 2.0 already launched 1st December but it needs a long time to complete the whole process after different phases. After successfull completion, it will decrease transaction fees, increase network speeds, PoW to PoS, faster transaction speed than at presnt, (at present 8 to 10 transactions per second), no need to hardfork for development etc. So we don't need to be hurry.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: Cinno3 on December 05, 2020, 10:41:23 PM
Ethereum is much more popular because of the platform. But the languages ​​you have used. It looks like the ethereum blockchain will not be part of the interior. The blockchain platform will be changed. I think this is a sign of improvement in the market. It is unknown at this time what he will do after leaving the post.
Title: Re: ETH2.0 is sure to be launched: Dec 01, 2020
Post by: mrjoy15 on December 06, 2020, 05:41:55 AM
Ethereum 2.0 Beacon Chain successfully have launched on 1st of Dec, but still a lot of things to be done and more value is coming. But, this is just beginning, we have more walk  to go. As of now, we just entering Ethereum 2.0 staking Era.