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Ethereum 2.0 – a misunderstanding ?

Ethereum 2.0 seems more to be a platform which hosts Ethereum 1.0 and 2.0 on both ends of the story. The reason to think in that way was a statement from Charles Hoskinson coming from Cardano. He predicts that all end with killing ETH 1.0.

Could this be true? Surely not and there is a big reason. More than 350,000 miners and users have been committed to a project called Ethereum Genesys (www.ethereumgenesys.org)

 

It is a showofforce where miners unite in collaboration with Ethereum Genesys Fork

The Ethereum GeneSys Foundation has successfully executed a mining fork of Ethereum, in order to save Proof-of-Work miners from the Ethereum network’s ‘Quick Merge’. The goal is to reclaim staked ETH 2.0 coins, continue Proof-of-Work mining indefinitely, and make future changes to the Blockchain consensus, including reduction of gas fees, enhancing Proof-of-Work security, and making performance improvements.

One of the richest people in the gulf region joined Ethereum Genesys. Noted Crypto Whale and Chairman of the IBC group, Khurram Shroff, recently pledged his support to the Ethereum GeneSys Foundation.  He is considered to be one of the largest Bitcoin Miners and HODlers in Blockchain history. 

Vitalik Buterin just stated that Ethereum itself is improving and there are also these layer two protocols on top of Ethereum that are rapidly improving.

We learned one thing for sure now: Ethereum is heavenly under construction. The idea to satisfy miners who made Ethereum big and merge them into the Proof of Stake consensus on a platform called Ethereum 2.0 makes sense. But this depends on the security.

Proof of stake has a lot of cybersecurity issues. And this maybe the luck for all Ethereum Miners. You can wipe PoS Ethereum out of service.

History will show. The DAO hack showed people are resistant if they have to change something. Ethereum 2.0 is the best example therefore.

 

Written by : Prof. (Dr.) h. c. Joerg Molt

 

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Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin47,834 0.09 % 2.88 % 1.79 %
Ethereum3,434.8 0.01 % 2.53 % 0.16 %
Cardano2.510 0.98 % 5.51 % 0.08 %
Tether1.000 0.28 % 0.17 % 0.03 %
Binance Coin432.50 0.18 % 6.90 % 3.29 %
XRP1.100 0.45 % 2.20 % 2.93 %
Solana158.72 0.96 % 1.90 % 8.42 %
Polkadot36.11 0.32 % 4.88 % 29.30 %
Dogecoin0.2428 0.06 % 1.40 % 4.91 %
USD Coin1.000 0.31 % 0.23 % 0.12 %

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