• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown

ETH 2.0 Isn’t The Upgrade We Have Been Waiting For

Anifowoshe Ibrahim
by Anifowoshe Ibrahim
4 years ago
·
Posted in Ethereum, Op-Ed
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

ETH 2.0 is being heralded as Ethereum’s blockchain Messiah. Here’s the thing: it isn’t. The long-awaited modifications are unlikely to address the network’s basic problems, which are preventing wider adoption.

ETH 2.0 Isn’t All That

To address long-standing concerns with Ethereum, Ethereum’s administrators announced the launch of Eth 2.0 as a set of improvements to its current model, including a switch to proof-of-stake (PoS) and sharding. People can mine blocks and validate transactions based on how many coins they own, according to the proof-of-stake idea. The Ethereum Foundation has stated that the transition to PoS will be completed by the end of 2021. In a recent blog post, the Ethereum Foundation highlighted that “the energy needs remain unchanged” as compared to the old PoW algorithm.

In a recent interview with Forkast news, Vitalik Buterin, the brilliant mind behind the Ethereum blockchain, indicated that the employees working with Ethereum is a greater challenge than the actual platform. While the project’s people may or may not be troublesome, it is certainly not the only flaw. As appealing as the new rollout may appear, the software updates that will be implemented will not address the network’s long-term issues that have prevented it from reaching the heights that Buterin and his followers had envisioned.

Ethereum currently uses a proof-of-work (PoW) method that allows for only about 15 transactions per second — roughly double the speed of the Bitcoin (BTC) blockchain — and is largely regarded as unfeasible for establishing a large-scale decentralized finance (DeFi) ecosystem. As a result, Ethereum’s gas fees are quite high. Because there are so few transactions per second, the cost of processing faster becomes competitive. According to Dune Analytics, 2-5 percent of transactions on Ethereum-based decentralized exchanges (DEXs) failed owing to issues such as low gas pricing.

Poor user experience (UX) design is another major issue that the Ethereum platform confronts, yet it is generally overlooked. As a result, most users who might be interested in using decentralized finance applications (DApps) or a nonfungible token (NFT) marketplace, for example, will avoid doing so because most user interfaces are not only unintuitive, but also lack sufficient educational resources to teach users how to use the platform.

Users will be expected to specify transaction fees and gas restrictions for transaction processing in the gas price. How many consumers, though, are aware of this without delving into the depths of cryptocurrency lingo and data? According to Insider Intelligence, 25% of adults in the United States don’t comprehend or know how to invest in digital currencies. Without access to appropriate educational tools, how could users be supposed to know, for example, that making payment from two different wallets to the same receiving address would not result in a nonces conflict? The vast majority of frequent users, in all likelihood, would be completely unaware of such an issue to begin with.

eth 2.0
ETH/USD still consolidating. Source: TradingView

Related article | Cardano Boss Puts Into Words Why ETH 2.0 Will Fall Flat

Upgrades On ETH 2.0 Don’t Help Much

The latest changes are intended to be more environmentally friendly while also speeding up transaction processing. In addition to these enhancements, the blockchain programming language is projected to evolve from the standard Ethereum Virtual Machine (EVM) to one that can be used by developers who use C++ or Rust, making coding directly in a browser easier. While the infrastructure enhancements may be useful in certain ways, such as boosting transaction throughput, they fall short in others.

For starters, Ethereum 2.0 has been under development for years, leaving many users wondering when the entire upgrade will be available. Although proof-of-stake is designed to reduce mining costs and energy consumption, network performance can only be raised if block timings and/or block sizes are reduced. Furthermore, sharding is only useful for apps that can operate independently and only need to sync once in a while. However, because of DeFi’s intrinsic decentralized and open-source nature, sharding-style processing would require transactions to be routed through a relay chain, which would slow down the entire process.

In addition, on the user experience front, Ethereum continues to lag behind to a large extent, which the Eth 2.0 update has yet to address. While Ethereum says that it will release enhancements that would help with transaction processing speeds and high gas fees, the foundation exhibits a clear disregard for concerns that, if handled, would allow a bigger number of users to benefit from Ethereum’s user-friendly interface.

Another issue is that transactions have long confirmation periods, which generally result in delays, asynchronous transaction submission, and confirmation messages, in addition to the persisting gas fee parameter difficulties. Frequently, a user will not receive confirmation immediately after completing a transaction, putting the user in the dark as to whether or not the intended receiver received the transaction. This is a bizarre and frustrating user experience for people who are accustomed to rapid outcomes on the web, such as in e-commerce situations.

Ethereum may be the blockchain world’s sweetheart, but the hoopla may turn out to be little more than hype at some point, and the long-awaited update is unlikely to garner wider popular use. It’s unclear whether the anticipated changes will be able to keep the Ethereum Foundation’s top executives’ pledges. It’s unlikely that Eth 2.0 will make a substantial difference for anyone outside of the Ethereum community unless Ethereum can address some of the larger concerns at hand. For the time being, Ethereum 2.0 is more of a cosmetic tweak than a much-needed game-changer.

Related article | The Top DOGE: Bitcoin And Ethereum Too Slow, Elon Musk

Featured Image from Pixabay, Charts from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Follow

Full Profile

Related Posts

Ethereum

BitDigital Becomes First Public Ethereum DAT To Deploy Unsecured Leverage – Details

1 day ago
ethereum_eth_ethusd_optimized

Ethereum Breaks Key Resistance: Will ETF Inflows Help ETH Sustain Above $4,300?

3 days ago
Ethereum news

Ethereum Foundation Unveils Next Phase Of Its Privacy Revolution

3 days ago
$2B USDT Just Minted On Ethereum: Fresh Liquidity For Uptober?

$2B USDT Just Minted On Ethereum: Fresh Liquidity For Uptober?

3 days ago
Ethereum

Ethereum Sharp Exchange Outflows Sparks A Historic Supply Squeeze, Here’s What It Means

3 days ago
Ethereum

Ethereum Usage Skyrockets With Unprecedented Daily Transaction Growth Amid Market Fluctuations

4 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • The Quiet Market Shift Investors Might Be Missing: How Tapzi Is Challenging Institutional Favorites

    The Quiet Market Shift Investors Might Be Missing: How...

    3 days ago
  • Investors Search for Long-Term Upside in This Under-$0.01 Crypto of 2025 Tapzi

    Investors Search for Long-Term Upside in This Under-$0.01...

    3 days ago
  • MoonBull Presale Explodes with over 11,800% Projected ROI as Uptober Sends the Market Soaring

    MoonBull Presale Explodes with over 11,800% Projected ROI...

    3 days ago
  • 狗狗幣引領『Uptober』Meme...

    3 days ago
  • ตัวละคร Snorter ขนฟูโต้คลื่นบนเซิร์ฟบอร์ดสีชมพู

    จับตา Uptober!...

    4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.