Ethereum 2.0 and 1.0 Chains Will Likely Co-Exist in the Beginning, Have Different Prices

Ethereum 2.0 and 1.0 Chains Will Likely Co-Exist in the Beginning, Have Different Prices
фото показано с : beincrypto.com

2019-10-14 01:18

Everyone is excited by the prospects of Ethereum 2.0, but the transition towards this new chain will prove complicated. It seems very likely that both ETH 1.0 and ETH 2.0 will be trading simultaneously and exist as separate tokens for a time.

Let’s think back to 2016—it was the year of the DAO hack when 3.6M ETH was stolen. The consensus then, among a large portion of the community, was to conduct a hard fork. Ethereum (ETH) today is essentially a forked version of the original chain due to this controversy, and the leftover chain became what is known today as Ethereum Classic (ETC).

ETH 2.0 v. 1.0: A Repeat of 2016?

Once Ethereum 2.0 is rolled out officially, the leading smart contract platform will find itself at a similar crossroads. Could we have a situation where ETH 1.0 and ETH 2.0 co-exist, with different prices on exchanges, during this awkward transition period? If we are to learn anything from the DAO hack and how it created both Ethereum Classic and Ethereum, this seems not only possible but likely.

As grubles (@notgrubles) brings up on Twitter, this has played out before in 2016 and we need to be cognizant of the fact that it may happen again. ETH 1.0 will arguably still trade after the beginnings of ETH 2.0 are rolled out—and, with each chain being separate, we could see two different ETHs trading on exchanges for a while. This means that we would have ETH 1.0, ETH 2.0, and ETC all trading at the same time.

We're heard this before with ETC (the original chain, btw). What is likely to happen to the ETH 2 chain is exchanges listing and labeling a separate distinct token from ETH (1). There will then be two tokens with different prices. Vitalik is trying to fight reality again. pic.twitter.com/ogMfQNV2Tu

— grubles (@notgrubles) October 13, 2019

Vitalik Buterin has claimed that the ETH 1.0 chain will “technically continue” but will die out due to being “valueless.” However, in the beginning, ETH 2.0 will effectively be ‘valueless’ because phase 0 won’t support the full extent of the network at the start. We will likely see some confusion which will be reflected in chaotic market prices of ETH 1.0 tokens and the new ETH 2.0 tokens.

Grubles even goes as far as to claim that “ETH2 will be valued less [than ETH1] for a relatively long time” because of phase 0 being useless in the beginning.

ETH2 will likely be valued less for a relatively long time considering the uselessness of phase 0.

— grubles (@notgrubles) October 13, 2019

The Road Forward Will Prove Difficult

Let’s not mince words: Ethereum 2.0 is desperately needed if Ethereum ever wants to be viable on a commercial level, and create applications that can benefit the world. As of now, Ethereum has failed to scale which has caused considerable headaches for enterprises wishing to use the network.

However, the transition to this much-needed upgrade will be rocky. One cannot unilaterally stop the trading of Ethereum 1.0. This means that there will be some inevitable tension between the new Ethereum 2.0 and the old chain.

So, Ethereum developers should acknowledge this problem, and confront it head-on, rather than assuming that the Ethereum 1.0 chain will just ‘die out.’ It won’t.

Do you think that ETH 1.0 and ETH 2.0 will co-exist for a time? Let us know your thoughts below in the comments. 

Images are courtesy of Twitter, Shutterstock.

The post Ethereum 2.0 and 1.0 Chains Will Likely Co-Exist in the Beginning, Have Different Prices appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 2954.85 (+0.08%)
Объем 24H $12.158b
Изменеия 24h: -1.87 %, 7d: -2.58 %
Cегодня L: $2927.03 - H: $2954.85
Капитализация $354.937b Rank 2
Цена в час новости $ 173.25 (1605.54%)

ethereum likely prices eth different co-exist chains

Источник: beincrypto.com

ethereum likely → Результатов: 126


Ethereum Price Analysis ETH / USD: Aiming High

Ethereum is trading in its narrowest seven-day trading range since April this year Technical analysis suggests a move towards the $200.00 level is increasingly likely Sizeable bullish falling wedge pattern seen on the four-hour time frame Ethereum is poised for a major technical breakout, as the second largest cryptocurrency trades in its narrowest seven-day trading […] The post Ethereum Price Analysis ETH / USD: Aiming High appeared first on Crypto Briefing.

2019-9-6 16:05


Ethereum’s short term losses likely to continue

After Ethereum saw a massive fall of over 8 percent on 14th August, the price indicated considerable recovery with a growth of over 2 percent in the past 24 hours. Is the recovery at press time enough to indicate that Ethereum has broken away from bears? Ethereum’s 4-hour chart At press time, Ethereum indicated a […] The post Ethereum’s short term losses likely to continue appeared first on AMBCrypto.

2019-8-17 11:58


Is Ethereum (ETH) Eyeing a Bear Market in Comparison to What’s in Store for Bitcoin’s Near Future?

While the price of Bitcoin continues to surge, it appears as though a number of other premier altcoins are struggling to maintain their bullish momentum. For example, as per a recent study released by popular cryptoanalyst, Josh Rager, Ethereum is currently close to breaking its 3-year support line and will most likely continue to lose […]

2019-7-8 21:16


Bitcoin Price of $100K is Within Reach in 2019, Likely to See $20,000 Within Next Two Weeks: Senior Analyst

For investors in major cryptocurrencies, this month has seen some of the most febrile activity and best performance from the likes of Ethereum and Bitcoin for a long time. Just where will this ongoing bullish trend take Bitcoin in the near future? For Simon Peters – who works as an analyst for the online trading […]

2019-6-27 23:24


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Reddit создаёт резервы с биткоине и эфире

Социальная сеть Reddit начала инвестировать часть своей прибыли в биткоин и эфир. Это решение было принято в связи с укреплением позиций криптовалют на мировом рынке. 22 февраля Reddit представил официальное заявление Комиссии по ценным бумагам и биржам США (SEC), в котором сообщается о вложениях компании.

Рынок готовится к сезону альткоинов

На фоне растущего оптимизма рынка к Ethereum, который приближается к отметке в $3000, в криптосообществе начинают звучать предположения о наступлении “сезона альткоинов”. Некоторые аналитики призывают к осторожности, указывая на отсутствие убедительных доказательств начала подобного тренда.

Хакеры украли $26 миллионов из FixedFloat

Популярный криптовалютный обменник FixedFloat столкнулся со взломом и утечкой средств, в результате которой были украдены активы на сумму не менее $26 миллионов в биткоине и эфире. Инцидент был подтверждён командой обменника вскоре после того, как о нем стало известно из сообщений в социальных сетях.

Израильский банк Leumi Bank начнёт торговать криптовалютами: детали

Ведущий банк Израиля Leumi Bank подтвердил информацию о создании цифрового подразделения, поддерживающего ВТС и ЕТН. Речь идет о недавно запущенной торговой платформе Leumi Pepper Invest. Посредством данной площадки клиенты финансового учреждения смогут совершать разнообразные сделки с участием биткоина и эфира.

4 Преимущества блокчейна нового поколения Free TON перед сетью Ethereum

I Во-первых, если у вас есть небольшое количество токенов, и вы захотите застейкать эти токены в Ethereum или любой другой Proof-of-Stake сети, вы обратитесь к крупному валидатору и передадите им ваши токены, чтобы он осуществил их стейкинг для вас.

Прогноз: Эфир готов к рывку до $5000

Специалисты компании Crypterium сообщили, что эфир в ближайшее время может подорожать до 5 тысяч долларов. Актив недавно попытался взять барьер в 4 тысячи долларов, но в итоге оказался под воздействием коррекции.