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If something is hard in theory, it's 10x harder in implementation. Complex systems have a lot of 'unknown unknowns' that can't be forecasted. Ethereum is $300B+
by miguelmota 5y ago
If something is hard in theory, it's 10x harder in implementation. Complex systems have a lot of 'unknown unknowns' that can't be forecasted. Ethereum is $300B+ live network so every small change takes time to research, test, and implement. Migrating from PoW to PoS is like swapping out the engine of an airplane in mid-air.
- jstx1 5y agoIf you ask the cryptocurrency subreddit, the best thing to do with any money you have[1] is to buy ETH at any price and stake it (i.e. lock it in and receive interest until ETH 2.0 is released). I find that absolutely mindblowing given all the complexity you're pointing out + the fact that there is no date and no clear explanation of what happens to the funds in the event of failure. And on top of this the fact that most people are doing the staking through exchanges because they don't have the required 32 ETH to do it themselves, it looks like a giant disaster waiting to happen. And somehow Ethereum is one of the most positively viewed cryptocurrencies out there. I don't get it. [1] This is only a mild exaggeration.
- pshc 5y agoETH2 is going to happen sooner or later… The beacon chain already works in production so it seems inevitable the devs will merge mainnet onto it. Not completely convinced about their 2021/2022 timeframe. All the validator deposits are public data; how would they be destroyed? The funds will have to be unlocked at some point, people will demand it.