Vitalik Buterin: What to expect after Ethereum 2.0
- 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).”
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
