Ethereum ETH 2

Ethereum (ETH) Huge Consumer Base Growing At a Gigantic Pace More for 2.0 to Pull

September 22, 2020 Off By Steven Anderson

Vitalik Buterin expressed his excitement about how several projects in the Defi family are proactively contributing to support public goods in the Ethereum ecosystem.  He also hoped that the support would continue in future rounds.

Several other members in the community also expressed that DeFi has been pretty awesome lately. However, some of them expressed concerns about Gas Cost.

One of the Ethereum enthusiast expressed that he has been absolutely blown away by the talent and caliber of individuals who have been working within the Ecosystem. He also stated that with minds like this that Ethereum can succeed.

As always there were several community members expressing their opinions about ETH scaling and security issues can be sorted.

There is no development work that happens without hiccups or bumps and needed work should be addressed to put things in place, whether about preventing any kind of 51% attacks or other kind of technological concerns.

Sydney Ifergan, the crypto expert tweeted:  “Delays in Ethereum 2.0 does not mean it is a failure.  Sometimes feeding a huge consumer base that is growing at a gigantic pace takes all the time.”

Ethereum Swarm tweeted:  “One week to go till ethswarm’s next milestone: “Come Together on 28th Sept at the Swarm Beta online event for a full day of swarming! Workshops, second wave of Swarm grants, ecosystem demos and much more.”

Ethereum (ETH) Developer Danny Ryan

Danny Ryan, Ethereum Developer expects ETH 2.0 to upgrade to radially improve network performance and security. Ryan has been recently speaking to news outlets about “precise point of transition” the point of transition of the blockchain is between the block created from the activity of the mining and then the next block creation with validation, particularly between the two systems of transaction validation like proof-of-work (pow) and proof of stake (pos) respectively.

The transition from PoW to PoS is set to be a happening through a multi-year roadmap. To those who have to state that the coming of ETH 2.0 might not have any impact on either the users or the Dapps, the answer of positive developers is that the positive change will be visible with time.

There is lot of hope among the dedicated developer community about the best things that are waiting after the “hot swap” from Eth 1.0 to Eth 2.0.  It is only after that there will be positive improvements noticeable.  The layer 1 capacity is set to increase when everything falls in to place.

  • 1