The merge to ETH 2.0 is shaping to be a historic moment for not just Ethereum, but the crypto landscape as a whole. In this video, I break down exactly what the merge is, what you can expect from it, and how it could push Ethereum past Bitcoin to become the dominant crypto coin.
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Timecodes:
0:00 Intro
1:49 What is the Merge?
4:21 Roadmap Update
6:00 Gas and Sharding
7:01 ETH to the Moon?
8:37 New King of Crypto
#bitcoin #ethereum #crypto #news #nft #economy #money #blockchain #invest #inflation
Whoever’s reading this, I pray that whatever your going through gets better and whatever your struggling with or worrying about is going to be fine and that everyone has a fantastic day! Amen
ETH will dominate the crypto space.
Bless you. 🙏🏾 ♥️
Thank you made me feel better
Thanks, man! I wish you nothing, but the best! With love from Russia!
BEST Comment I read in a REALLY long time! Thanks!!
The most important thing about wealth planning is having a proper plan. The idea of working with a professional is great because it will help you plan well, avoid some mistakes beginners make, and crate a good income.
Hypothetical…Isn’t polygon a layer 2? Lets say Polygon sees widespread adoption. Would there be a market for sharded eth?
If it genuinely will provide 100k TPS, it makes no sense that it won’t dramatically decrease average gas fees. Fees above average are only caused by users trying to get their transaction into the next block. For example a 10k NFT mint requires 10k transactions to be minted. At 15 tps, this would take a long time and causes users to inflate the gas to try and get their transactions mined. This is people trying to jump the bottleneck. If the chain can perform 100k tps post merge, then there is no contention for those transactions so the gas has no need to rise as it does today.
100k TPS would be after sharding, and we don’t know about time to finality either. Truth is though nobody really knows how ETH 2.0 fast it will be, at least we know other Erc20 PoW chains are not hitting this kind of speed, even partially sharded ones. I’m assuming ETH, considering its footprint, will have more active validators than other PoW chains, generally more validators (without sharding anyway) means less speed, so I think a realistic expectation will be that speed will go up because of PoW, but it won’t be as fast as other PoW networks, gas fees will go down a lot, but they won’t be as cheap as other PoW networks. What matters though is a big increase in scalability and speed, more adoption (because of reduced gas fees), greener (because no more mining), and still something to look forward to to increase it further (sharding) – but sharding comes with many challenges, to the points of dapps requiring alterations to continue to function (composability challenges), so it makes sense to not include it in this upgrade.
“Fun” fact: 45% of all nodes of ethereum network are runing on datacenters in USA, and 13% in Germany.
And there was much rejoicing. Yayyyy
How does this make it decentralised when a group of people are remaking it from the inside out, surely it would be a security
@phix76 That’s why I am betting on a new chain called Ethereum Classic Classic🤣
@llyzs Catchy! lol
It is 100% a security, there was a pre-sale where vitalik LITERALLY said the coin will appreciate in value, if thats not a security, nothing is.
@Cardonian No, ETH foundation can change it up how ever they want regardless of miners
Still lots of risk for centralized control with ETH. PoW doesn’t have this problem.
Ethereum has & will change how the world of Crypto. We have a bright future and every project built on it 🤔
Proof of work is what makes it good. Centralization will eventually cause the same problems we have now. Just different people.
Bitcoin will never become an altcoin because the definition of altcoin is any coin that is not the original, Bitcoin.
Wrong bro
The worrying thing about eth is that Vitalik believes in public goods, hence is a collectivist, said a agrees mostly with the elites, which makes is more likely eth will sink along with the ss sustainability.
Nothing to worry about. If Vitalik makes a big mistake with eth2 there’s already many parallel networks with 100% compatible eth virtual machines like ETC, Polygon etc.
So essentially ETH will join the 7K other chains (and growing) that currently use PoS. Seems like this will make BTC and PoW even more scarce.
In proof of stake, the rich get richer. It also prevents you from holding your own coins unless you already have 32 eth. Bad system.
I’m reading the comments here, and, amazingly, everyone seems to disagree while predicting the blockchain future. I will take all of the comments as financial advice and see my portfolio rise exponentially!
When the verge happens with eth it will become even more decentralized and yes the verge not the merge if you don’t know what that is then you should do some research Bitcoin will get passed by eth and I hold both but the facts are the facts you shouldn’t get emotional over what crypto will be number 1
I love BitBoy, but I’m not in love with how he hates miners. Proof of steak will only make it more centralized. Everybody will stake their ETH on something like AWS. Also what the uneducated always fail to consider is how much energy those servers, and all the backup servers use. In most cases the backups are a complete waste of energy. They are constantly up weather needed or not. ETH has never gone down as POW, but many POS coins have. POW is always safer and more decentralized. Anyone can turn their pc into a miner and help the network in POW. Also, the miner haters always fail to mention how much electricity is usually completely wasted during non-peak hours. Power companies love that they can have the miners shut off during high-usage times, and then have them turn on for the off-hours. They make profit on the normally wasted energy. Also, if not for the mining community, would alternative energy have been as much of a hit? Again, they fail to mention how much of the energy used is actually renewable.
Ben, thank you, as always, for your awesome content. Is there any concern that the decision makers at Etherium could decide to, one day, create more ETH, increasing the supply and diluting the value? I know this is a big arguing point for bitcoiners because the supply is fixed whereas with ALT coins, that isn’t the case. Thanks so much! Stephen
Ethereum is simply trying to become what Cardano already is.
In 5 years they’ll still be trying to complete the transition to POS. But it won’t matter anymore