“Quickly understand the features and thinking points of ETH 2.0 upgrade”
Author: Future little brother
1. Upgrade content and plan of ETH2.0
Status of ETH 2.0 deposit contract :
Possible phenomena after the ETH2.0 phase 0 goes online
Assuming possible positive phenomena:
- The market actively participates in the construction of the beacon chain, stage 0 is successfully opened, and a large number of ETH participates in staking, which further increases the popularity and price of ETH in the secondary market.
- Traditional mining pools and exchange mining pools have launched ETH 2.0 staking functions due to hot spots, and cooperated with media to attract ETH investors and fans to indirectly lock up their positions to participate in the construction, thereby achieving the effect of increasing the popularity of Ethereum transactions.
- Phase 0 attracts the participation of a large number of developer institutions and community developers, which further accelerates the development speed, and thus quickly enters Phase 1, bringing the sharding chain online ahead of schedule. The wait-and-see on the market will further increase their expectations for ETH 2.0 (overly positive assumption)
- With the attraction of BTC to the stored value of traditional institutions, more institutions will be involved in the construction and game development of decentralized high-performance Dapps.
Assuming possible negative phenomena:
- Since the deposit contract of ETH 2.0 cannot be transferred and withdrawn in advance, the interest of participants is reduced. Some people impulse to participate without knowing this mode in advance, and the start of phase 0 is delayed. After the start, the development progress was slow, leading to negative voices in the market, and the trend of the ETH secondary market saw a massive decline.
- The development was too slow, and it was delayed more than the expected 2 years. ETH entered a relatively sluggish trend, and the sharding technology was still in ideal.
- Verification under ETH’s PoW mode is successful and feasible, but whether there will be a need for centralized and centralized development institutions under PoS-type mode remains to be verified. Because the current healthier development of PoS projects is maintained by a relatively concentrated team behind it, the PoW model generally does not need to consider this.
- There have been major upgrades and cooperation in the blockchain projects with excellent performance in the market. It is easy for Algorand, Cardano, Polkadot, Near and other high-performance public chains to have a chance to surpass in 1-2 years. Algorand made mistakes due to the lack of initial auction , Resulting in the trend and promotion of the secondary market at a relatively hidden level. However, from the perspective of compliance cooperation such as the SOV national digital currency in 2020 and USDC’s only public chain other than ETH, it is likely that there will be a larger-scale cooperation in the two years of 2021-2022, which will lead to a shift in market attention. (But ETH is still the most concerned project in the community)
Note: This part is based on assumptions and conjectures, not necessarily predictions, please be aware
About the author: Future brother (Geng Che)
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