Vitalik Buterin: What to expect after Ethereum 2.0

By October 11, 2019 Ethereum
Click here to view original web page at www.fxstreet.com
  • Vitalik says ETH1 would function technically but is likely to die off due to the difficulty ice age.
  • Accept for the smooth running users will experience ETH2, in the same way, they to ETH1.

The co-founder of Ethereum Vitalik Buterin has come out to clear the air after a Twitter war erupted following the recent Ethereum Devcon conference. Questions were raised regarding the transition from the Proof-of-Work (PoW) to Proof of Stake (PoS) consensus algorithms.

The release of Ethereum 2.0 was on the agenda alongside questions directed to Buterin and Joseph Lubin for selling the Ethereum scam knowing that there were scaling limitations.

However, Buterin has shared what is expects the transition to feel like saying:

“The eth1 chain technically continues but it is valueless; eventually it will die off when the difficulty ice age hits.”

Notably, the actual transition is expected to take place in a period of six hours. However, the entire process will take two years. The first stage is to move to the PoS protocol while leaving Ethe1 chain running. During this phase withdrawal will not be allowed to take place.

“From a user’s point of view, Ethereum would “feel” the same pre-and post- transition (except that post-transition it would feel smoother due to Po Sans EIP 1159).”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Accept for the smooth running users will experience ETH2, in […]

Leave a Reply