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Any Ethereum L2 that commits transaction bundles to the mainnet, plus anything on Binance's EVM chain, Cardano, Solana, Polkadot, Avalanche... They're all proof

by 0x64 4y ago

Any Ethereum L2 that commits transaction bundles to the mainnet, plus anything on Binance's EVM chain, Cardano, Solana, Polkadot, Avalanche... They're all proof-of-stake or not based on PoW. And, Ethereum will transition to PoS by this year, ideally in August. All of the popular nine Ethereum execution/consensus clients should be ready for the merge, and mainnet has already been test-merged five times successfully. The first existing PoW testnet will be merged on the first week of June. After that, there's two testnets remaining that will be upgraded (Ropsten -> Goerli -> Sepolia), and then it's time for mainnet.

coffeeblack 4y ago
Interesting. Never thought that Eth will actually transition it’s consensus method. So that means there’s hope for Bitcoin to do the same some day.
- DonHopkins 4y ago
skocznymroczny 4y ago
> Ethereum will transition to PoS by this year, ideally in August. I feel like every year is the year when Ethereum will finally transition to PoS, but it never happens.
- 0x64 4y ago
  Name another year that has had feature-ready clients across the board, with a working merge transition mechanism implemented across all of them. The proof-of-stake chain we're merging to was launched in December of 2020, and has been running since, with almost 400'000 validators currently.
- rekoil 4y ago
  The difference is that this time we actually have testnets already running the full Proof-of-Stake code, most recent news on this front is that the Ropsten testnet will merge on June 8th, that's a huge milestone considering Ropsten is like _the_ testnet if you're developing for the EVM, and is only slightly younger than the ETH mainnet itself.
- juanci_to 4y ago
  It's like The Year of Linux Desktop
- DogLover_ 4y ago
  Bit harsh when many software projects in the world are delayed. Ethereum was released in 2015
  - delecti 4y ago
    I've seen stories detailing how they were ready to switch to PoS by "the end of the year" as far back as 2017. Ethereum has been PoW for it's entire existence, and has also been promising PoS for almost 3/4 of that time. It's not impossible that this time it's really true, but I'll believe it when it happens.
planb 4y ago
Cardano, Solana, Polkadot, Avalanche, Ropsten, Goerli, Sepolia, Iota, Algorand, Iota...? You're all making fun of me by making up funny words now, don't you? No, just kidding. To be fair, I wasn't aware that there is SO MUCH going on in the crypto space that I have never heard of. But these (as far as I can see) are different blockchains, not actual sites that a user can use do do useful stuff or access useful information. That's why I was asking for services - to my understanding, just creating a new coin does not make it "web3".
- 0x64 4y ago
  These are all chains that support smart-contracts, meaning that services can be built on top of them! I don't know much about the DeFi ecosystem on other chains, but all of them should have at least _something_ going on.
  - DonHopkins 4y ago
    None of them have critical mass because none of them are scalable. So no, actually, they don't have very much going on at all. It's trivial to solve one single aspect of the much larger problem by deciding to punt on solving other extremely crucial aspects, like scalability, or decentralization.
  - deleted 4y ago
    [deleted]
  - eric_cc 4y ago
    Polkadot is actually a layer 0 and does not have smart contracts. Parachains, like Moonbeam, are your layer-1's that provide smart contracts. Avalanche is also layer 0.

by 0x64 4y ago

coffeeblack 4y ago

Interesting. Never thought that Eth will actually transition it’s consensus method. So that means there’s hope for Bitcoin to do the same some day.

DonHopkins 4y ago

skocznymroczny 4y ago

> Ethereum will transition to PoS by this year, ideally in August. I feel like every year is the year when Ethereum will finally transition to PoS, but it never happens.

0x64 4y ago
Name another year that has had feature-ready clients across the board, with a working merge transition mechanism implemented across all of them. The proof-of-stake chain we're merging to was launched in December of 2020, and has been running since, with almost 400'000 validators currently.
rekoil 4y ago
The difference is that this time we actually have testnets already running the full Proof-of-Stake code, most recent news on this front is that the Ropsten testnet will merge on June 8th, that's a huge milestone considering Ropsten is like _the_ testnet if you're developing for the EVM, and is only slightly younger than the ETH mainnet itself.
juanci_to 4y ago
It's like The Year of Linux Desktop
DogLover_ 4y ago
Bit harsh when many software projects in the world are delayed. Ethereum was released in 2015
- delecti 4y ago
  I've seen stories detailing how they were ready to switch to PoS by "the end of the year" as far back as 2017. Ethereum has been PoW for it's entire existence, and has also been promising PoS for almost 3/4 of that time. It's not impossible that this time it's really true, but I'll believe it when it happens.

planb 4y ago

Cardano, Solana, Polkadot, Avalanche, Ropsten, Goerli, Sepolia, Iota, Algorand, Iota...? You're all making fun of me by making up funny words now, don't you? No, just kidding. To be fair, I wasn't aware that there is SO MUCH going on in the crypto space that I have never heard of. But these (as far as I can see) are different blockchains, not actual sites that a user can use do do useful stuff or access useful information. That's why I was asking for services - to my understanding, just creating a new coin does not make it "web3".

0x64 4y ago
These are all chains that support smart-contracts, meaning that services can be built on top of them! I don't know much about the DeFi ecosystem on other chains, but all of them should have at least _something_ going on.
- DonHopkins 4y ago
  None of them have critical mass because none of them are scalable. So no, actually, they don't have very much going on at all. It's trivial to solve one single aspect of the much larger problem by deciding to punt on solving other extremely crucial aspects, like scalability, or decentralization.
- deleted 4y ago
  [deleted]
- eric_cc 4y ago
  Polkadot is actually a layer 0 and does not have smart contracts. Parachains, like Moonbeam, are your layer-1's that provide smart contracts. Avalanche is also layer 0.