ETH 2.0 - POW and POS

[MrSpasybo]

Perhaps many of us are focusing on ETH 2.0 and unusually high transaction fees, but let's look at the consensus protocol we are expecting on ETH 2.0. I and many people prefer POS over POW for reasons of investment costs, decentralization, security and energy efficiency. In addition, ETH's current POW is not completely "ASIC resistant".

However, there are also opinions that miners do not like POS, because they have invested a lot in the POW system, so they only have 2 options: sell mining machines to buy ETH & become part of the POS system or switch to another POS platform.

Will this affect the future of ETH much? Will ETH 2.0 using POS be as successful as we expected? What do you think about this, please share.

[debra]

Will this affect the future of ETH much? Will ETH 2.0 using POS be as successful as we expected?

I think this can have effects on the potential rise and the future of ETH. With ETH 2.0, there is a new hype in ETH investment, then I guess will be more new investors. I just hope that this ETH 2.0 will attract more people. ETH 2.0 is a good way to make this platform stronger.

[Pegasus]

The principle of PoS is that the more coins you hold, the more reward you get. Implementing PoS will increase demand of ETH and as a result, its price will increase. I'm not a miner so I can't tell anything from that perspective. I guess they will move their eyes to other PoW coins.

[Lillian]

The ETH 2.0 upgrade converts the network from Proof of Work (PoW) to Proof of Stake (PoS). Called staking, this upgrade will remove Proof of Work (PoW) miners and change into an ETH deposit key validator to validate blocks and earn block rewards.

[JacobMichael]

According to Casper upgrade documentation - as part of the Ethereum 2.0 roadmap, the network will initially support a hybrid model that involves both PoW and PoS, so there is space for both block validators and GPU / miners. ASIC. CEO Jack O’Holleran of the Ethereum-based blockchain platform

[JacobJacob]

The ETH 2.0 upgrade converts the network from Proof of Work (PoW) to Proof of Stake (PoS). Called staking, this upgrade will remove Proof of Work (PoW) miners and change to an ETH deposit key validator to validate blocks and earn block rewards

[ife2020]

The ETH 2.0 upgrade converts the network from Proof of Work (PoW) to Proof of Stake (PoS). Called staking, this upgrade will remove Proof of Work (PoW) miners and change to an ETH deposit key validator to validate blocks and earn block rewards

Well, either etherum 1.0 or etherum 2.0, honestly i find nothing strange or wrong about the etherum platform, i see it just as an excuse to make miners increase transaction fees and charge users. 2.0 will definitely make etherum stronger and further decrease bitcoin dominance, but to what end ?

[Rosemaryy]

Some of the fundamental problems that exist with Ethereum are scalability, security, slow mining, and high energy consumption. Ethereum 2.0 was born as a solution to these problems.

[Calantha]

Blockchain under the PoS system is expected to have the potential to significantly improve energy efficiency more significantly than the PoW protocol when Vitalik said that Ethereum 2.0 after switching to PoS will cut up to 99% of energy consumption compared to PoW.

[Esperanza12]

So far, the official launch date of Ethereum 2.0 has not been set. Daniel Ryan, developer of the Ethereum Foundation has stated that Phase 0 will be implemented in Q1 2020 and the event will launch ETH 2.0 by 2021. This will be an event that is expected by the crypto world. As this could be a revolution for Ethereum, in theory, ETH 2.0 is 1000 times more scalable than ETH 1.0.

[NihonShoki]

The ETH 2.0 upgrade converts the network from Proof of Work (PoW) to Proof of Stake (PoS). Called staking, this upgrade will remove Proof of Work (PoW) miners and change it to an ETH deposit key validator to validate blocks and earn block rewards.

[ShadowCrypto]

Well, lets see how things will be after the upgrade, for now its really impossible to send eth or tokens due the high fees, its bejng more than btc on average, thjs need to be fixed soon.