The 2018 Cryptocurrency bear market brought many projects to a standstill, forcing teams to halt on developments or cease entirely.
Many investors have not held back their concerns regarding crypto projects updating their communities with where they are at currently with their roadmaps, most noticeably Ethereum 2.0.
Reddit subscriber ‘don’t_hate_scienceguy’ took to the social news discussion platform to express his opinion about the negative influence of the Dothereum proposal (A potential ETH fork);
‘The day Vitalik leaves ETH is the day I market sell. I have never had less faith in the ‘team’ than I do after this dothereum nonsense.’
Vitalik Buterin responded to the comment reaffirming the team was still working hard and there would be no delay on the progress of Ethereum 2.0;
‘”The team” is larger and broader than you think.
While I get frustrated with the antics of the “chattering classes” myself, it’s important to keep in mind that Prysmatic, lighthouse, the eth2 research team, etc etc are all continuing work right on schedule, and the recent governance noises, while loud and annoying, did not delay the progress of eth2 by even a single day.
State channel and Plasma and ZK rollup devs are similarly steadily moving forward, as are the 1.x rent proposals. The existing 1.0 clients are being tirelessly upgraded to better handle the load of the current chain, with a huge victory a few months ago in dropping uncle rates as well as constant improvements in block propagation.
When you’re making a bet on the ethereum ecosystem, it’s those silent armies you are betting on.’
Vitalik Buterin has consistently managed to keep the Ethereum community up to date with progress and continuously reiterated the importance of the team remaining together.
The possibility of an Ethereum fork would certainly bring unwanted disruption to the community and followers of the ETH project would like to be reassured that Ethereum 2.0 does not result in any delay.
Vitalik and members of the Etherum team have recently been speaking at the Ethereum Foundation EDCON Press Conference just a few days ago answering questions on the current update on Ethereum and the possible difficulties facing Ethereum 2.0;
A journalist asked ‘why should people bring their attention back to Ethereum?’
“We are just continuing to build things. Right now there are more things to build with and build on top of than there have ever been before and I expect there to be more over the next few months”
What Are Ethereum 2.0 Solutions
Ethereum 2.0 aims to build on top of Ethereum 1.0 to improve the previous limitations including privacy, scalability, and security. A number of solutions are in the pipeline such as;
- Proof-of-Stake (PoS) – Solutions like Beacon and Casper refer to converting how Ethereum is mined. Addresses how the system is secured and how new coins are created.
- Sharding – Addresses issues of scalability and transaction speed and stops one app from slowing down the network.
- eWASM – Allows code to execute faster and expands coding options and capabilities for the Ethereum Virtual Machine.
- Plasma – An extra layer that sits on top of the network that can handle massive amounts of transactions – Ethereum version of Bitcoin’s Lightning Network.
- Serenity -An upcoming major upgrade that creates a Proof-of-Stake chain – Serenity could increase scalability by as much as 1000x.
The Ethereum project is undoubtedly complicated and developers will certainly be pushed to meet timescales over the coming months.
However, Vitalik will play an integral role in ensuring Ethereum progresses accordingly.
We are still very early in the progress of Ethereum’s capabilities and certainly will look forward to ETH’s advancement over the coming years.