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Why ETH Could EXPLODE with Ethereum 2.0 ?

Published on 11 Jun 2020 / In Crypto

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📖 Etheruem 2.0 Overview 👉 https://www.youtube.com/watch?v=A9e2wRsQiao


⏰ Time Stamps ⏰

1:40 What is ETH 2.0
3:40 Where on Timeline?
6:12 What it Means for You
7:25 Demand to Stake
9:16 Investor Demand
12:30 Utility Demand
16:47 EIP Burning ETH
18:36 Price Impact
19:28 Conclusion


⛓️ 🔗 Useful Links 🔗 ⛓️

► Staking Calculator: https://ethereumprice.org/eth-2-calculator/
► Paper on Resource Pricing: https://ethresear.ch/t/draft-p....osition-paper-on-res
► EIP-1559: https://github.com/ethereum/EI....Ps/blob/master/EIPS/
► Vitalik on Shard Chains: https://notes.ethereum.org/@vbuterin/HkiULaluS


📰 Sources 📰

► Metcalfes Law: https://www.sketchplanations.c....om/post/169423351706
► Consensys Study: https://media.consensys.net/st....ate-of-ethereum-prot
► Fixing the Fee Model: https://medium.com/@eric.conne....r/fixing-the-ethereu
► Topaz Testnet Live: https://medium.com/prysmatic-l....abs/introducing-topa


📝 What is ETH 2.0? 📝

It is Etheruem's long awaited scaling solution that will be taking the blockchain to an eventual Proof of Stake model. The hope is, that with proof of stake, consensus can be achieved more quickly.

There were also other updates slated for 2.0 and one of these was sharding. Eventually, as the Ethereum 2.0 update is fully rolled out, the hope is that these shard chains will provide for their own unique execution environment.

🕔 Timeline 🕔

Things appear to be kicking off with the official mining of the genesis block on Ethereum 2.0's testnet, Topaz. Topaz will be replacing the current sapphire testnet. Since opening up the testnet to validators, there have been over 28,000 validators that have joined.

If all goes according to plan then this should move onto phase 1. This is the phase that will bring on that Sharding power and those 64 shard chains will be created

The next step on from this will then see the introduction of smart contract functionality and state execution on these shard chains. And, finally, if all is well on the Beacon chain then the legacy Ethereum blockchain will be integrated as a separate shard chain on the network

📈 Staking & Investor Demand 📈

Firstly, you have to consider the demand to stake. More people want to hold 32 ETH in order to stake on the network.

You then also have to consider the secondary effect of this staking. The more of the ETH that is locked up by the validators, the less there is on the market.

There is also increased investor demand from both institutions and retail investors. For example, it was recently disclosed that Grayscale has been buying half of all newly mined Etheruem. In 2020 they have bough 1% of all the outstanding supply on Ethereum.

You then also have to consider the retail investors who are pros at Fomo and who are likely to dive into the markets when they see the price rising and talk shifting to it on the financial news networks.

🚙 Utility Demand 🚙

There will be a large demand for Gas from those who run the dApps. They will need ETH if they want to use this Gas and this will lead to an increase in the demand for ETH. This can lead to Metcalfe's law for the tokens.

Also given that alot of these dApps are DeFi dapps, they will have to be locked into smart contracts which takes them out of circulating supply. This means less is available on the market

⚡️ EIP-1559 ⚡️

EIP-1559 and is a proposal that if implemented, could see a small portion of ETH taken out of supply or "Burned" with every transaction.

This will be done in order to keep issuance on the Ethereum blockchain between validator rewards and fees constant. Not only will it mean that fees could come down as a result but it will also mean that the inflation inherent in Ethereum could come down. This means less supply on the market which is obviously great for price.


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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Ethereum #ETH #crypto #defi #Review #scaling #smartcontract #cryptocurrency #blockchain

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