ETHEREUM 2.0 - A GAME CHANGER? Proof Of Stake, The Beacon Chain, Sharding, Docking Explained

[@ggrizzle]

i just want to know how you got all those colors out of a black sharpie

[@ashishsubedi8811]

Its called MAGICC......😂😂😂😂😂

[@jasonbrazen3732]

lol

[@bobsagetlives2020]

lol

[@SenecaNL]

It is called ETH 2.0

[@LJournals]

lol

[@Teronze]

That last statement about the looming irrelevance of the potential "Ethereum Killers" was potent, my man. Real truth on that one.

[@justinmtch]

Correct me if I am wrong, but ETH seems to have gone to a DeFi system where any average Joe could support the network and be rewarded to.... the richest ETH holders (those who hold 32 or more ETH *64,000* at time of comment) are now the only ones who will be able to validate / host the network via staking. And sure you can join a group to stake your ETH... but it hardly seems DeFi. It certainly feels like we are seeing a consolidation of the most wealthy ETH owners, those who may not even believe in the network or DeFi for that matter, but want to turn a profit stand to gain the most out of ETH 2.0. Have we come full circle, back to US Financial System, but over a Block Chain?

[@batmanrecharged]

Valid point

[@rontman]

Decentralized staking pools without min limit are already out there. Ethereum community innovates non stop.

[@bate01071]

What’s more worrisome to me is that if i were to treat ethereum or Bitcoin as a currency rather than a speculative asset that I’m betting I can get wealthy from, I might be trading a small amount of inflation with the U.S. currency for a substantial amount of deflation, assuming the value relative to US dollars continues to appreciate. That trend would disincentivize people from using at as a currency but instead hold on to it which has the significant effect of slowing the widespread adoption of it as a currency that is used as such.

[@vpowerization]

In my point of view, there is Ethereum, Bitcoin, and bubble crypto's ! Before EIP 1559 Ethereum was ONLY the most successful Altcoin but Clearly after EIP1559 Ethereum can not be compared with anything else!

[@michielcelis5806]

Also, validators get rewarded linearly by the amount they stake, not the amount of processing power they bring to the network. This funnels ETH into the already wealthy, and creates a disconnect between processing power and reward. It can be compared to feudalism. Where we had a consensus mechanism that required no trust, we are going to a system that entrusts the wealthy and gives them a discoupled incentive to provide processing power by the means of avoiding punishment.

[@tensevo]

Ethereum is so effing brilliant. If Eth2 transition goes smoothly, and it can be secure on POS for a few years, that will be a huge bull signal for major financial institutions to move onto Ethereum in one way or another. I think this will be the de facto platform for future finance, accounting, legal, derivatives, you name it.

[@tensevo]

@M.V.P. Agreed, ETH is still very much in the early phase, yet is still fully functional, see the roadmap. it is currently expensive and slow, but that is because nobody predicted how popular it would be. There are literally thousands of projects already built on Ethereum and a huge dev community. Regards, to expense and speed, it is fine for most financial apps, with the main thing being the security of smart contracts settled on layer 1 blockchain.

[@tensevo]

@M.V.P. I don't really know much about ADA.

[@stormsurge1850]

@@tensevo As a blockchain developer, things like this make me laugh my ass off. The price of ADA has nothing to do with their underlying technology, almost every altcoin will explode during the bull phase, including simple ERC-20 tokens. Cardano doesn't even have smart contracts yet. Layer 2 scaling solutions and Ethereum 2.0 will make Cardano and Polkadot pointless. By the way, I would trust the creator of Polkadot a lot more than the creator of Cardano. Everyone in the blockchain development community hates the creator of Cardano, he's been kicked out of every project that he's been a part of, and he's always lying to promote Cardano.

[@stormsurge1850]

​@M.V.P. I know he contributed to Ethereum. He got kicked out just like every other project he's been a part of. Also, I never said you were a blockchain developer, I was saying that I am one. I'm not repeating myself, literally everything you mentioned was either already addressed by my previous comment, or in the video you obviously didn't even watch. Cardano isn't even finished yet, so Ethereum not being finished doesn't mean anything. Ethereum 2.0 and layer 2 solve every issue you mentioned. Cardano doesn't even have smart contracts yet, that's literally the most important part. Nothing is being built on Cardano. I have tried to use their developer tools, they are horrible. The only Ethereum killers that have a chance are Binance Smart Chain and Polkadot.

[@andso7068]

@M.V.P. Best of luck. After the last surge of the current bull cycle, it'sgoing be a long 4 or 5 years before ADA makes any moves in your portfolio.

[@Finematics]

💛 Support Finematics on Gitcoin (Round 8 started on 2nd Dec) ► gitcoin.co/grants/1158/finematics-defi-education ❓ What do you think about Ethereum 2.0? Will it make the "Ethereum Killers" irrelevant? Comment down below 👍 Hit the like button if you enjoyed this video 🐦 Follow Finematics on Twitter ► twitter.com/finematics 🙌 Support Finematics on Patreon and join our Discord community ► www.patreon.com/finematics 📘 Check out our FREE Guide to DeFi ► finematics.com/guide-to-decentralized-finance/

[@ikust007]

This channel is a pure Crypto Gem.

[@Finematics]

thanks!

[@KenzieandAsia]

Thank you for taking the time to make a visual representation. I know it took valuable time out of your day and it is much appreciated for those of us unconventional learners that really need to see what you’re talking about.

[@frankfromupstateny3796]

Indeed....indeed. "Dilly, Dilly!" I'm a newbie,....still in 11/2021 - having ETH, is finally making sense....as our FIAT money is about to die....even a simple RN can understand this basic change in society. So,...onto more learning...cost averaging and having faith in this new process and protocols. Money "laying under one's mattress" is now "supposedly" losing it's buying power by up to 1% monthly (as of November - 2021; now). So 100K in savings "today...will be worth in buying power....99K "next month...and so on". Why bother working "for the man...when the man is broke too?" The "Man is our Government".

[@ajudd4u]

This is the best explanation I heard so far.

[@Finematics]

Thanks!

[@iifather]

สวย

[@anniemal9312]

You managed to make a foreign concept understandable. Thank you. I hope everyone gets a chance to hear your explanation. So clear and concise

[@winner322]

Watched this twice and starting to understand better. Any recommendations for me to find out more?

[@elhexidente9832]

How cool would it be to have a school to teach you this instead of the garbage they teach in public schools?? 🧠🚀

[@CuthbertNibbles]

Public schools teach learning and critical thinking. They build patterns to teach your brain not just to understand that garbage, but this garbage, and other garbage. It's not fun, it's effective. Do you think I remember the quadratic equation 10 years later? No. But I remember the mathematic principals behind it, the ± serving the need for two points on a single Y= line because a parabola has a symmetric curve that will always have two points on a single horizontal line (excluding the vertex) so when I see a pattern expressed as a parabola and not as a logarithmic function, I know there's a second point, double the Y-distance from the vertex, somewhere else on the chart. How is that useful? I, unlike a shocking amount of people, know that hypercars have nearly-identical acceleration and braking distances. Not because my cool-cars-100 class taught me that with a flashy animated video, but because physics taught me static friction being linear with downforce, math taught me about polynomials, and I put the two together. Did school teach me how to express this opinion? No, it taught me to lead a paragraph with a point, reinforce it with supporting arguments, then close with a summary that articulates my initial claim, for example, that you won't learn critical thinking by watching KZbin videos instead of the approach public schools currently use. The difference is, if schools taught "this" kind of content, you'd have a little bit of niche knowledge about a specific blockchain technology, but if/when this becomes obsolete, you'll be left without the ability to learn new things, which is something you're going to have to do every day for the remainder of your life. This "I hate school because they don't teach useful things" attitude is very, very dangerous. You *have* to be able to learn things that don't interest you, it's a critical skill that many millennials and younger generations are lacking because schools are caving to these kinds of complaints. "Kids can't think for themselves", yes, that's why we don't let them vote, drive, choose what they learn or live on their own, but now we're getting _adults_ that can't think for themselves, don't have the attention span to sit down and read a book (let alone a technical document or paper), and can't understand problems because they weren't presented in a highly engaging KZbin video like this one. This leads to further problems, like being unable to apply critical thinking to information presented (that image that "Madonna tried to removed from the internet" is an urban myth - there is no evidence she did so but you've never questioned it until reading it now), leading to people believing everything they read (5G causes cancer, masks don't work), again reinforced by "Edutainment" content reinforcing the thinking pattern of accepting information presented in an entertaining manner. That associates "I like this" with "this is fact", which disinformation campaigns can easily piggy-back off of as long as what they say makes you happy; because you have not learned to criticize this kind of content, you accept it. Ultimately, you're left in the real world without the mental tools needed to think for yourself, making you extremely easy to manipulate and take advantage of. I'm not saying this kind of content is bad, but you have to understand, this is entertainment, not education.

[@cryptmoe]

@@CuthbertNibbles ok boomer

[@shanglee643]

@@CuthbertNibbles dang, you really destroyed me when i read your comment.

[@jmcauhy]

@@cryptmoe you’re the boomer

[@Qwertyasdfgqerwev]

@@CuthbertNibbles No, school teaches you that mitochondria is the powerhouse of the cell

[@2008solcito]

I love how you simplify complex topics in the crypto space.

[@dez8218]

The reward u get by staking eth 2.0 , is it sent to your wallet immediately or does it become available at the end of the staking contract?

[@nikhilkunde1805]

At the end of the staking contract

[@boredcompsciguy]

@@nikhilkunde1805 rip liquidity

[@destinationNZ]

Do the holders of POW ETH need to do any software updates on their nodes/Wallets or this migration from POW to POS will be seemless for current ETH holders?

[@asoganmoodaly8743]

Subscribed. New at this, and the explanation is great! Just a comment - doesn't the 'rich get richer' analogy apply here? In other words, only those with money (eth), can earn eth? More money (eth) you earn, the more you can stake to earn yet more eth? I might be missing a nuance, so apologies.

[@zmanx88]

There will be pooling services that you can put a small amount of eth to if you want to participate. But just like the regular stock market: the more money you put in the more money you get out

[@hoodoooperator.5197]

Love Ethereum and love your videos. "Ethereum Killers" - Give me a break. I can see other blockchains working along side Ethereum, interoperable and all that, but killing it... No chance.

[@epsteenwusmerdered9878]

Especially when there are dozens of new protocols being built on top of Ethereum almost every week it seems. Ethereum would really have to fumble the ball to lose their position at this stage.

[@anthonyalbertorio5180]

Chains will have to aim for interoperability rather than killing Ethereum. That's what PolkaDot is doing via MoonBeam.

[@user-hd7fs3mm4k]

So helpful! Needed the visuals. 🙏🏽

[@jackwu4723]

Can you explain what is stored in the blocks of the beacon chain initially since it's not validating the transactions on the current POW ETH chain. Is it just a bunch of empty blocks without any transactions? Thanks and keep up the great work!

[@JimzZel]

Nice video, but again nobody is talking about what happens with the value of current ETH if ETH2.0 is launched. Will ETH have less value like ETC? Will we also get ETH2.0 tokens for every ETH token we currently have?

[@dorasmuris]

I think the current ETH network will become part of the ETH 2.0. He talked about it becoming a shard i think.

[@hasniahasnia5669]

@MrBusta wester

[@gss123gss]

This video aged like a fine wine. Great work.

[@iamsophea9628]

អរគុណសំរាប់ VDO នេះ thanks for this vdo

[@josee.1709]

Please do a Polka Dot video :3

[@RoverProd]

Great content. Subbed. Do you have a thoughts on Eth 2.0 vs Algorand?

[@turbos7780]

Algo is still a baby

[@turbos7780]

I have my money into it but no way its reaching eth maybe in 5 years

[@sebastienbaly7207]

Awesome video, super clean and very comprehensive! Is Casper $CSPR linked by anyway to Eth2 or there is no link at all?

[@krumpiskis6855]

proof if stake gives control to the validator with the most tokens. So its actually pretty central based. The biggest validator doesnt only get to maintain a percentage of proportionate ownership, but they get to decide (have the most tokens = most voting power) which basically incentivizes hacks.

[@jamesvelvet3612]

My take: To be a player, get 32 ETH. Now.

[@21CenturyBreakdownX]

Me: trying to learn about future of crypto I'm invested in Also me: lol it sounds like he's saying sharting

[@jasonauyong4450]

What is involved in validating? If I had 32 ETH to stake and become a validator, how does one actually validate transactions or new blocks? Is it an automated process or is it manual? My understanding of POW mining is that it is random and the only way to increase your chance of getting a reward is to run more nodes. Is POS also random? Does the amount of ETH staked change your opportunities to get rewards?

[@saikrishnasunkam4344]

I read somewhere a while back that it is proportional to how much you stake. So if you stake 5% of all eth in the network you get picked to validate 5% of the blocks.

[@googleinc6033]

Its all automatic. You just need a dedicated computer connected to the Internet with the software up to date and voila. It will do everything on ita own 24/7

[@johnmcnally322]

Thank you for making these videos. I am new to the crypto space and I do not have any advanced computer programming knowledge. I am a farmer. I keep coming back to your videos because they make these concepts easy to understand. I know that it takes lots of work to make high quality content like this so I want to let you know that I appreciate all of your hard work.

[@Finematics]

Thank you! Appreciate your comment. Glad to hear the videos are helpful. We want to make this space accessible to everyone, not only computer scientists :)

[@Cryptokittty]

Thanks for highlighting the importance of security in crypto transactions.

[@larssuanet]

By far the best video on eth2 I could find. Clearly explained and the visuals do help a lot. You have earned yourself a subscriber!

[@Finematics]

Awesome, thanks!

[@fredfrond6148]

Two subscribers.

[@bpfrenchak]

Agreed, but it is still so complex who knows what the heck is really going on

[@AnthonyJones-ni4bm]

nice analysis! if only we had more people paying attention to the crypto market, the bullish movement on the crypto market these past weeks has been beneficial to both the hodlers and traders alike, but more for the traders. This i can say for fact because i personally being a signal user, i was able to trade and make profit running over 56k usd, although i had guidance from Mark Jean , we all can agree it has being a good run for crypto assets. Being a signal user for a while, i can firmly say Mark’s signals are the real deal, i have made quite a lot using his signals and others as well. strictly for crypto inclined concerns Mark can be reached on

[@marygilbert6582]

@@AnthonyJones-ni4bm I made 10btc with his master strategy

[@lostcause1281]

Very interesting! But what happens with people already holding ETH? Would they have to sell for, or exchange ETH with ETH2, or would the upgrade be automatic, like if you hold ETH, it would change itself in ETH2? Like an automatic software update?

[@philippemercier1637]

To make it short, it is automatic, no need to convert your ETH into a new coin

[@FURIArts]

@@philippemercier1637 what about the price though?

[@Mountain4]

Its automated

[@Ruben-]

@@FURIArts Very likely to go up

[@santiagopabloortiz6322]

Best explanation about ETH 2.0, ever. You make it sound simple haha.

[@Finematics]

Thanks! :)

[@Dragon-Slay3r]

😭 eth tripped? 😭

[@AnasMoudnib]

The future of finance is definitely in crypto; thanks for spreading awareness!

[@MaxRausch-l7u]

Everything was explained very clearly and understandable for an ordinary person, thank you for that!!!

[@alizierny]

Can anyone please explain if I should do anything with my current stack of ETH? Should I do something in regards to ETH2? Transfer somehow ?

[@ethannaka1822]

Stake it

[@AN-ir6sr]

I think a technical comparison on why proof of work is more objective (and therefore more secure) than proof of stake needs to be made.

[@katiayang1351]

I love all your videos! Just new to Ethereum, and your videos provide the best and clear explanation! Thank you!

[@Finematics]

thanks! 💛

[@MrNasamigra]

Can you do a video on ADA?

[@taraishot100]

Man that's so complex to understand I'm going to watch it again 😂😂😂

[@mushwar5455]

I'm a miner so my view is biased. What's the gain for a investor to invest in a PoS crypto with those low % earnings? Why would anyone enter such a volatile investment rather then investing in traditional stock markets?

[@孙祎彤]

Yeah investing in sp500 would be a safer option for that 8% gain, but I think PoS is inevitable; the current mining model is too environmentally unfriendly and disruptive on the computer hardwares market.

[@mattschroeder1100]

Look at it this way: There are SO many people who are holding crypto long term because they believe in the future of it. If you're holding anyways, why not stake it? You're not only betting on the returns from your stake, but also on the value increase of the asset itself

[@gubzs]

Volatility is not intrinsically negative.

[@marcososa1986]

how does the validation process work in POS? is it automatic?

[@johncurtis920]

So...if I'm getting this properly is it valid to presume that sharding can become...for lack of a better way of putting this...fractal in nature? I'm not sure I'd want to lock up my ETH for the better part of 2 years as a vaildator, especially since the returns over time diminishing. But you can color me interested to see how it all plays out. John~ American Net'Zen

[@ZeeshanHaider-ve6eo]

Yeah i will too won’t be interested in etherum

[@dorasmuris]

Idk i see it as a CD. Plenty of people buy and hold their assets for years on end. Instead of it just sitting in an account somewhere, it can accrue interest overtime. For those that constantly trade and need liquidity, this wont be a good option. Algorand might be a better option for those that need liquidity but want the APY.

[@kaczan3]

Men behind ETH are absolutely brilliant.

[@akhilkumar4825]

Wonderful explanation. I do have to watch it a couple of more times before I can get my head around all the different architecture changes you talked about.

[@I3igI3oss1]

Some of the best defi explainations I've ever heard. Easy follow from me

[@Finematics]

thanks!

[@fture]

Network effects will play out. In the end, there will be ETH, BTC and may be one or two other chains, each with varying degree of use case. True variety will be happening on Layer 2.

[@dotevo1]

When Peercoin (PoS inventor) has been created 8 years ago all people said that PoS is stupid, and PoW is better. When ETH is switching to PoS people think that is a good way to go... Marketing.

[@mrrobotplays4167]

Will my ETH I am currently am holding, carry over to this? Is it a different coin all together?

[@bowlnd]

Can ex. ALGO, ZIL, CEL, HBAR..... become shards?

[@nightaim6673]

As allways! very Nice content. My question is just as you told in 6:44 Sharded Chains cant execute transactions and Smart Contract there for Layer 2 (like Rollups) is needed. but later at 9:45 after DOCKING and the full transition you told the Ethereum 2.0 will allow Smart Contracts. So what does it means? After Docking is still Rollups there for Smart Contract?

[@KevinWildenradt]

Wow dude, this is amazing. I love ETH and DeFi, I am always looking for good explanations to show people

[@Finematics]

Thanks!! :)

[@freedom_aint_free]

I think in the midterm polkadot will beat ETH 2.0 and in the long run Cardano will beat everybody!

[@freedom_aint_free]

@steve lopiuk This video here kzbin.info/www/bejne/enzOnmOlrad3m9U explains almost everything, you can check over their Telegram channel too.

[@EssentiaMundi]

and Elrond too? Who can tell...

[@jehanfd]

This is the best explanation 😍😍🙏

[@nakki131]

Third time here. Every time learning something new, great content.

[@Finematics]

thanks!

[@sheikhtashdeedahmed2740]

Hi, I have a small currency related question. When ETHERIUM 2 finally begins (And finishes docking), with ETHER cease to exist and will ETHER 2 be a new currency or will both exist at the same time or will ETHER become ETHER 2?

[@Finematics]

There will be only one Ether unless the PoW (current chain) forks and maintains some value.

[@googleinc6033]

There is no eth 2.0 anymore. Just eth with an update

[@UnidentifiedAerialPhenomena0]

When will Proof of Work go offline? Phase 2?

[@tobiyokageyama6449]

@Sai Vivek Peta and when is that? Earrly 2022?

[@tobiyokageyama6449]

@Sai Vivek Peta whats this thing abt ETH2.0 on April 2021 Im hearing about? Phase 1 or something? Im getting a bit confused

[@mateo-6965]

Would it be worthwhile to buy pre staking eth2 thru coinbase?

[@chalmuns8571]

Anytime I get a stock guru ad on this channel I watch the whole thing, nothing like taking money from scammers and giving it to great content creators

[@Finematics]

Hah thanks! I'm not sure if it's good for you to watch these stock gurus though. You can at least mute them :)

[@chxnge2873]

Click on the ad, it will save you time and make the channel way more money.

[@whateverrandomnumber]

Long story short, ETH2 puts all the power to produce more ETH tokens in the hands of banks and big capitalists. Right?

[@bate01071]

If you got in early, you could be stepping in the shoes of a big capitalist. Then you’d probably not be as concerned.

[@Einungbrekke]

And i who joined the mining community under a month ago with a rig... Should probably not have bought that one. It wasn't cheap! :D

[@shillengod]

Same here 🥲 We'll need to look for other coins to mine...

[@dratini711]

best explanation but too much ads in one single 12mins video sir.

[@Finematics]

thanks, hmm we're running default KZbin ads, but sometime KZbin itself may decide to play more ads depending on how many you watched in a given period of time

[@dspeedwagon]

Great video, greedy on ads though. Way too many.

[@bit_rimbit_rim2210]

Very good explanation. Thank you 🙏

[@Finematics]

great to hear!

[@starlight7243]

In a world of confusion I am left at rest knowing you. To know it is to trust it. Ty. For being you

[@mehranwild5602]

Keep up the good work, make more videos about specially ETH LIQUID STAKING on like StaFi.

[@_lfaustoo]

Very very very helpful video! Kudos to you and your content!

[@agustincortes2270]

Right???

[@punkysuen]

Great video! It explains a lot of concepts very clearly. Thanks.

[@Finematics]

Glad it was helpful! :)

[@rachit1650]

Best KZbin channel i ever found

[@Finematics]

Amazing! Thank you :)

[@frankrowleycoach]

You say that scaling only on L1 instead of on L2 would lead to lower security and dentralization. However, from what I understand L2 solutions also bring with them decreased security and decentralization. So, are you saying that all improvements to scaling, whether they are on L1 or L2, will necessarily lead to lower security and decentralization?

[@noahwhipkey6262]

yes. moving away from POW just allows those who have already mined or have lots of capital to execute a 51% attack. say the US government with their trillions only need like 125 billion to shut it down. instead of having to buy and setup all the mines, they only need some code and ETH. hardware over software people

[@Dogmen219]

Your videos are very clear and the visuals are great. I love the way you explain things and make it easy to understand. Keep making great content.

[@kalloggs40]

Wait most etherium and other cryptos are held at exchanges, how does ETH 2 prevent a 51% if stake if one or all of these Exchanges merged in secret prevented withdrawls and got control of 51%? What about if banks or someone else got together and bought 51%?

[@Finematics]

At the moment only 16% of all ETH is kept on exchanges. If one party controls 51% and acts maliciously their stake is slashed, so they can only repeat the attack a few times before they run out of funds. Also buying 51% of the whole supply would drive the price up making it harder and harder to get to that threshold.

[@nikyabodigital]

So if I wanna buy eth2. I buy eth?

[@rocketscience777999]

The computer generated voice almost sounds like a real person:) its actually a good video tho:)

[@sang3Eta]

And this is how ETH becomes XRP and you can bet your bottom dollar the bankers buy enough ETH to run the show. Proof of stake is like selling shares in a company. If you buy enough you own the company!

[@Chaos666Theory]

Couldn't you just flatten the probability of becoming a validator at around 40% or something? Actually, never mind. It's impossible to determine whether a group of validators is the same entity or not, so such a limitation is easily circumvented.

[@augustine.o6190]

yeah, exactly

[@ZeeshanHaider-ve6eo]

Yeah I’m not interested in etherum Either

[@anthonyalbertorio5180]

... How is this any different than banks buying all the mining rigs and running the show? At least if they start to buy ETH the price starts to go up making each purchase more costly than the next. And they are subject to slashing as well, making them less likely to try to cheat.

[@andrews1540]

Hey! could you do maybe a video explaining atomic swaps and HTLC? I'm having a hard time visualising it Such awesome and educational videos tho!

[@Finematics]

Sounds like a good idea for a future video. We also covered HTLC some time ago in our video on the Lightning Network ➡ kzbin.info/www/bejne/b4asgJild6qdo9k

[@jonathancox9497]

A lot of value in n this video 🔥 How long will the transition into POS take to migrate.

[@havendewart]

I swear visual learning is the best way to understand things

[@DarylSolis]

On the 27th of April 2021, an analysist predicted that ETH would rise to $3500 by the end of 2021. Well, that's already happened. ETH is most likely going to smash through $10,000 this year, or more. Etherium 2.0 will make ETH go up 100x in the next 2 years

[@Excitenify]

Which one is more robust and faster compare between IOTA(DAG), Cardano (Ouroboros), Ethereum (sharding).

[@derekkamm1759]

Once Cardano has their Hydra protocol banging - will be like fusion energy has entered crypto space

[@gimmy3510]

CHAIN game a secret gem 💎💪

[@ac7841]

Not really a secret but ok

[@lalsenarath]

Proof of stake will make crypto same as a fiat currency! Large stakes are possible only by governments, so in the end, the control will be taken over by governments. This will defeat the main aim of crypto created by Satoshi Nakamoto, to have a currency distant from government-controlled Central Banks!

[@jasongrig]

Please do a video on solana and proof of history

[@bchain6416]

This is such an incredible complicated protocol it is hard to believe that nothing will go wrong.

[@mdmh9999]

Thanks for the video! How do you feel about the timeline as of now?

[@kyles5258]

I feel like validators are the most important part of that video and I have no idea what they are. Like how does owning 32 ethereum mean literally anything or validate anything

[@heyalex8597]

Generally when you are staking you are entering a smart contract saying if anything goes wrong with the network security (i.e hacks or other network weaknesses) the 32ETH you pledged will be used to replenish the funds lost via the network weakness. Basically insurance for users of the ethereum network. As a reward for staking that ETH, the validators are compensated by a high APY or something similar

[@kremarsimgames7949]

@@heyalex8597 how do you become a validator?

[@godac420]

Good Q/A

[@kelseyc4237]

@@kremarsimgames7949 you need 32 ETH

[@mediasmart1000]

Is 2.0 better for share holders ?

[@SVIGO-hq5fg]

By having different teams in the ecosystem means that the decision maker can be centralised?

[@BradCagle]

Hope I'm not the only one who giggled every time he said sharding. :)

[@timschierenbeck2758]

nope, me too:-)

[@hamoudhabibi1996]

lmao same

[@hamoudhabibi1996]

i sharded while watching it

[@mattrogers1149]

And docking :-)

[@timschierenbeck2758]

Thanks again, very understandable, even for a newbie like me!

[@indys5920]

Polkadot and Cardano will give Eth2 serious run for its money (or Eth ;) in two years

[@SpaceTimeTravellerEarth]

Hey Indy S. Could you share some background links revealing why you think this could be the case?

[@rh2265]

@@SpaceTimeTravellerEarth kzbin.info/www/bejne/oWnEZ6eOapiMhtU

[@mccannhealthcompany8625]

I am so thankful to realexpeditetools ,com for helping me out .They added to my 24000usd to my bank account .

[@Stiflex]

If miners are no longer a thing, who will facilitate all these transactions?

[@futurebeats898]

Validator

[@futurebeats898]

3:45

[@Stiflex]

@@futurebeats898 Yes, I understand the concept, where I'm confused is the logistics. Who takes the transaction from one persons wallet and puts it into another persons wallet? Does a transaction between two wallets require zero computing power?

[@futurebeats898]

@@Stiflex the transaction are made by the computer that runs the ethereum node. Wich are owned by the validator (humans).. I think!

[@Stiflex]

@@futurebeats898 Soo... the validator is essentially the controller of transactions? Sounds opposite of DeFi.

[@agoetz21]

Can you explain doge and akita and shib and elon cryptos

[@jochembraad1760]

Nothing to explain there

[@roberts1782]

Super, I like your work

[@Finematics]

thanks! :)

[@Jesse-ly8nl]

Hi Finematics, thank you for the educational video. In regards to sharding, my limited understanding of computer sciences tells me that this only works correctly in centralized systems. How does an entire decentralized network get updated, if each node only holds a certain amount of fragmented data?

[@chris11d7]

Thank you for teaching us about sharting! I actually actively shart while working with our application database at my job, I always thought it was just called "splitting", but sharting sounds way cooler.

[@jacobkarim8358]

sharding and sharting are two very different things

[@christopherchilton-smith6482]

LOL

[@chris11d7]

@@jacobkarim8358 thank you for clarification: Mistakes were made....

[@beatriceajogbeje9739]

LMAO

[@claudine1843]

Subbed! Thanks for the helpful explanation!

[@Axel-vt8no]

I don't see how it makes a 51% attack more difficult than proof of work. Wealthy stakers can pool together the same as miners pool together..

[@epsteenwusmerdered9878]

Isn’t that where slashing comes in? I think they kinda glossed over slashing in their explanation

[@Garen1]

Question: How does Eth 2.0 differ from eth 1.0? Not in the sense of the upgrades and changes, but as the coin. Does that mean there is going to be a new coin called eth2 that ppl will start buying? Or will everyone who owns etc coins be converted to eth 2.0 like an “update.” My understanding is very limited and I have been looking into eth and its advantages and how it can have a market cap greater than btc bc of the great platform it has and the value it brings. Thus I really want to understand how exactly this eth 2.0 will effect eth. Thanks in advance and for your time.

[@dorasmuris]

I think the entire ETH network will become part of the ETH 2.0 network. He talked about the first shard or block encompassing the whole ETH 1.0 network.

[@DavidDji_1989]

Finally I am feeling I understood this. Thanks!