Ethereum Tyler Smith crash course

What will happen in the next 6 to 13 months to Ethereum (ETH)? Crash Course by Tyler Smith

July 10, 2020 Off By Maheen Hernandez

Tyler Smith who is running validators on Altona and Onyx testnets for ETH2.0, had something interesting to say.

Tyler Smith tweeted:  For those who don’t spend every moment reading about #Ethereum, here is a crash course on what is about to happen in the next 6-12 months… I’m keeping the time frame tight and trying not to speculate too far into the future (maybe another thread).”

Sydney Ifergan, the crypto expert tweeted:  “The predictions for Ethereum particularly the ETH 2.0 Launch price sky rocketing and Tax nightmare are interesting, we will wait to see if it happens.”

Summarily he expresses, DApps will begin adopting and implementing the layer 2 scaling solutions. He stated that there has been a rush of layer 2 projects over the past 2 months.  Lot of DApps are expected to announce a chosen scaling solution, based on the specific service and tradeoffs of respective layer 2 scaling platforms. 

He predicts that by layer 2 solutions a fast adoption with a redefinition of 15 transactions per second paradigm is possible. He states that gaming platforms and exchanges will most benefit from DApps.

Some of the hard core Ethereans according to him will be able to identify the paradigm shift, while several outsiders will not be able to recognize the shift.

He predicted Fear, Uncertainty, and Doubts from Bitcoin Maximalists and Ethereum killer Chains who will all state it does not matter. He also stated that TRON will try to copy everything.

A decrease in the congestion of Layer 1 of ETH. With the block 1 space getting freed up, DApps will take advantage and clog the space.  He does not predict a dramatic drop in transaction fees until ETH 2.0 Phase 1.

With ETH 2.0 Phase 0 official testnet launch, he stated that the testnets will get smoother by virtue of his experience running nodes on several dev testnet like (Schlesi, Topaz, Witti, Onyx and Altona) using Prysm, Lighthouse and Teku.

Marketing pushes from ETH 2.0 staking companies for custodial and non-custodial services. He opines the push will be intensified as customers acquired in Phase 0 will be locked in Phase 1, when transactions are enabled.

ETH2.0 is expected to be the most pivotal event. If Phase 0 does not launch mainnet in 2020, the market will likely punish Ether prices severely. If he launch is successful there will be a skyrocketing of prices. Institutional money and projects are waiting to see if Ethereum will deliver on its promises.

He also predicts a Tax Night Mare is predicted during the ETH 2.0 transaction. And a few more too!

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