create account

ETH2: Phase Zero by edicted

View this thread on: hive.blogpeakd.comecency.com
· @edicted ·
$14.01
ETH2: Phase Zero
![breakingnewsabsolutely.jpg](https://images.hive.blog/DQmWB7ypyj8SghSXrBr4Fmc9Tq3xuUs6od9E1fQLSSLHBAw/breaking-news-absolutely.jpg)

### Today the ETH2 fork has gone live. 
https://decrypt.co/49992/ethereum-2-0-launches-tomorrow-heres-what-to-expect

>There's not a whole lot users must do during Phase 0 of the proof-of-stake network.

>The Eth2 network won't be fully functional until further upgrades are launched.

So apparently ETH2 needs to be upgraded several times in order to merge ETH into it.  Until then ETH2 is just kinda on the side hanging out. 

# Sell the news?
Maybe not.  More than 867k ETH ($500M+) Ethereum has been staked into the new network.  Apparently that stake is going to be locked up for quite some time. Again, I'll be looking for market instability in December, and I'm not seeing that yet.  Bitcoin & Ethereum may carry us yet further into the new year. 

>Ethereum 2.0 doesn’t do much from a user standpoint. As the Foundation’s handy-dandy explainer puts it, “It won’t be like the Ethereum mainnet of today. It can’t handle accounts or smart contracts.”

>The next step is creating shard chains, ideally in 2021, which theoretically allow the blockchain to handle many more transactions per second than proof-of-work Ethereum, which often struggles with congestion. In 2021 or 2022, Phase 1.5 should hit, at which point Eth1 and Eth2 converge and the new blockchain should become broadly usable.

Sharding and Plasma are scaling solutions I've talked about long ago.  It seems as though ETH development continues to crawl at a snail's pace.  We're always hearing, "Just two more years."

-----

#### [Plasma: Ethereum's Lightning Network](https://peakd.com/ethereum/@edicted/plasma-ethereum-s-lightning-network)
Wow... wrote that one back in summer 2018 and you can see by the rewards that curation was still 75/25 heh. 

----
This is a big drawback for the top-of-the-pyramid chains.  Dev teams become very centralized because initial stake is very centralized.  The Ethereum Foundation has quite a 'healthy' ninjamine at their disposal. 

While it can be quite profitable to boot up a dev team to work on an ERC-20 token there's a lot less incentive to help improve the core infrastructure apart from the Ethereum Foundation. It becomes very clear that these financial incentives will have to become heavily decentralized in the future in order for networks to scale on flat architecture. 

----

Hive has the DAO dev fund but that experiment has yet to prove itself.  There's no telling whether or not that experiment is going to bring an overall net gain to the platform. I believe it will, but dumping the ninjamine into it makes it a huge honeypot attack vector to siphon value out of the network.  I'm not too worried about it though considering the transparency of the system. 

----

>The extended rollout means that anyone who staked ETH for the launch also needn’t do anything but wait. That Ether is going to be there awhile.

Coinbase is also historically super bullish on Ethereum and has already declared they are going to support staking in this way by proxy as the custodian of their user's ETH. 

>Instead, so-called Phase 0 introduces proof of stake, in which ETH holders lock up their crypto for a chance to earn a portion of the block rewards.

# Phase 3: Profit
Ethereum has a long way to go, but when ETH finally does get merged into ETH2, the speed, scalability, and volume of the network should increase exponentially. 

If crypto was mainstream already and several large tech companies were invested into the ETH ecosystem, a lot of these upgrades would likely be developed for free compliments of the institutions that depend on them.  

Amazon, Google, Microsoft, Facebook, etc, have all contributed to open source projects in the past.  It's only a matter of time before these Goliaths have so much stake in crypto that it becomes profitable to create such open source code for the rest of the world.  The cryptosphere is a self-funding organism.  The real value comes from within. 

I've already lambasted Facebook several times for trying to do this whole Libra thing when they could have avoided regulations altogether by simply using Bitcoin and helping flush out the Lightning Network. Some corporations will fork their own product in order to control it.  Others will realize it's more profitable to simply tap into an existing established community.  It's all a matter of time, and 2021 is gonna be a big year on all fronts. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@edicted/eth2-phase-zero)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 298 others
properties (23)
authoredicted
permlinketh2-phase-zero
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["ethereum","eth","palnet","leo","pos","leofinance"],"canonical_url":"https://leofinance.io/@edicted/eth2-phase-zero","links":["https://decrypt.co/49992/ethereum-2-0-launches-tomorrow-heres-what-to-expect","https://peakd.com/ethereum/@edicted/plasma-ethereum-s-lightning-network"],"image":["https://images.hive.blog/DQmWB7ypyj8SghSXrBr4Fmc9Tq3xuUs6od9E1fQLSSLHBAw/breaking-news-absolutely.jpg"]}
created2020-12-01 21:43:18
last_update2020-12-01 21:43:18
depth0
children10
last_payout2020-12-08 21:43:18
cashout_time1969-12-31 23:59:59
total_payout_value7.480 HBD
curator_payout_value6.529 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length4,588
author_reputation3,497,851,531,456,337
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,769,897
net_rshares61,496,422,282,685
author_curate_reward""
vote details (362)
@acesontop ·
$0.02
If facebook is gonna make its libra(diem) as easy to use as their shitty social media platform is, and governments will not fight it, then it's going to be a success.

If facebook knows how to play its game right and offer governments a bit of control over the people's libras and supposed privacy then I see no reason why governments won't allow it.

Centralized, traceable, not disrupting anything(sort of)... why would they fight it. 

Oh, and... 

>Hive has the DAO dev fund but that experiment has yet to prove itself.

That's just another way of milking for some, and giving false hopes to plebs. 

I wish I could write anything about the actual topic of the post but I admit I'm not the guy to do that, not techy at all when it comes to under the hood details.



Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@acesontop/re-edicted-5vbu2k)
👍  
properties (23)
authoracesontop
permlinkre-edicted-5vbu2k
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@acesontop/re-edicted-5vbu2k"}
created2020-12-01 22:27:03
last_update2020-12-01 22:27:03
depth1
children0
last_payout2020-12-08 22:27:03
cashout_time1969-12-31 23:59:59
total_payout_value0.012 HBD
curator_payout_value0.012 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length864
author_reputation1,979,853,825,441,012
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,770,369
net_rshares193,232,178,030
author_curate_reward""
vote details (1)
@filotasriza3 ·
i am really curious to see what will happen with libra (*diem, i found out a couple of hours ago*) and the government especially when other goverments have cryptos!

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@filotasriza3/re-edicted-5azy5o)
properties (22)
authorfilotasriza3
permlinkre-edicted-5azy5o
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@filotasriza3/re-edicted-5azy5o"}
created2020-12-02 00:02:21
last_update2020-12-02 00:02:21
depth1
children0
last_payout2020-12-09 00:02:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length262
author_reputation193,006,617,729,128
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,771,399
net_rshares0
@mandate ·
I am having this feeling this ethereum 2.0 will not do crypto much good like how people are really hyping it or perhaps it is only me thinking in that direction

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mandate/re-edicted-hujrp)
👎  
properties (23)
authormandate
permlinkre-edicted-hujrp
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@mandate/re-edicted-hujrp"}
created2020-12-02 11:02:42
last_update2020-12-02 11:02:42
depth1
children0
last_payout2020-12-09 11:02:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length252
author_reputation123,230,126,296,165
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,777,225
net_rshares0
author_curate_reward""
vote details (1)
@onealfa.leo ·
So far I'm testing these uncharted waters:
https://i.imgur.com/VZWzas0.png

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@onealfa.leo/re-edicted-cquef)
properties (22)
authoronealfa.leo
permlinkre-edicted-cquef
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@onealfa.leo/re-edicted-cquef","image":["https://i.imgur.com/VZWzas0.png"]}
created2020-12-05 18:13:42
last_update2020-12-05 18:13:42
depth1
children0
last_payout2020-12-12 18:13:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length170
author_reputation10,106,983,740,839
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,825,675
net_rshares0
@shortsegments ·
You have a knack for just slicing through the smoke sometimes and saying...it's just a smoldering incendiary, there isn't really any flame.Libra has potential to do big things, mainly bad, but they make the rest of crypto look good by comparison, if people look under the hood.
properties (22)
authorshortsegments
permlinkre-edicted-qkpf04
categoryhive-167922
json_metadata{"tags":["hive-167922"],"app":"peakd/2020.11.4"}
created2020-12-02 08:45:42
last_update2020-12-02 08:45:42
depth1
children0
last_payout2020-12-09 08:45:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length277
author_reputation676,076,119,585,496
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,775,916
net_rshares0
@taskmaster4450le ·
Libra is now "Diem" for what it is worth. 

It will be interesting to see how that tug-o-war turns out.  Facebook is taking on the governments and regulators head on.  Zuckerberg is obviously that arrogant to think he can win that one.  Who knows, maybe he can.  

This might also be good because it does take the bullseye off Bitcoin.  If Zuckerberg start to amass too much power, they might want to slap him down a few nothces.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-edicted-4c8gf)
properties (22)
authortaskmaster4450le
permlinkre-edicted-4c8gf
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@taskmaster4450le/re-edicted-4c8gf"}
created2020-12-01 22:00:57
last_update2020-12-01 22:00:57
depth1
children3
last_payout2020-12-08 22:00:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length530
author_reputation2,192,514,045,519,128
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,770,103
net_rshares0
@edicted ·
> Diem

ha, interesting rebrand...

It is funny how crypto people think this is a threat to crypto... in reality they are a much bigger target. Yet another diversion for central banks to worry about. 
👍  
properties (23)
authoredicted
permlinkre-taskmaster4450le-qkoljz
categoryhive-167922
json_metadata{"tags":["hive-167922"],"app":"peakd/2020.11.4"}
created2020-12-01 22:09:36
last_update2020-12-01 22:09:36
depth2
children2
last_payout2020-12-08 22:09:36
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length200
author_reputation3,497,851,531,456,337
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,770,216
net_rshares8,759,485,039
author_curate_reward""
vote details (1)
@shortsegments ·
The target analogy is spot on, the diversion they provide is/was a blessing. I agree they are definately good for crypto in so many ways.
properties (22)
authorshortsegments
permlinkre-edicted-qkpevz
categoryhive-167922
json_metadata{"tags":["hive-167922"],"app":"peakd/2020.11.4"}
created2020-12-02 08:43:12
last_update2020-12-02 08:43:12
depth3
children0
last_payout2020-12-09 08:43:12
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length137
author_reputation676,076,119,585,496
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,775,902
net_rshares0
@taskmaster4450le ·
Instantly they have the biggest bullseye on their chest...much larger than the one on Bitcoin's.



Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-edicted-4nhqtz)
properties (22)
authortaskmaster4450le
permlinkre-edicted-4nhqtz
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@taskmaster4450le/re-edicted-4nhqtz"}
created2020-12-01 22:27:03
last_update2020-12-01 22:27:03
depth3
children0
last_payout2020-12-08 22:27:03
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length200
author_reputation2,192,514,045,519,128
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,770,370
net_rshares0
@wiseagent ·
I definitely need to learn more about Ethereum. That's it!

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@wiseagent/re-edicted-6zzdtc)
properties (22)
authorwiseagent
permlinkre-edicted-6zzdtc
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["hive-167922","leofinance"],"canonical_url":"https://leofinance.io/@wiseagent/re-edicted-6zzdtc"}
created2020-12-02 17:44:42
last_update2020-12-02 17:44:42
depth1
children0
last_payout2020-12-09 17:44:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length153
author_reputation1,289,056,462,997,032
root_title"ETH2: Phase Zero"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,782,637
net_rshares0