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RE: Ethereum Roadmap

in #cryptocurrency5 years ago

Very well written article, i can only presume you will and should get a decent number of upvotes for this. You got mine anyway. If you have some more specific info around exact dates the phases were originally planned to be completed that would be great. By the way, the POS with 1000ETH will not make this currency better in my opinion. It will force a centralization of ownership of large investors and will decrease the appeal to hold the currency. Why have such a huge threshold is a mystery for me still.
On a side note, i like some of your other posts as well, will follow you going forwards. You might find it interesting checking mine out and following back if appealing. In any case well done and keep em coming! Cheers

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Hi @attalis thanks a lot for your comment. I nobody knows dates for sure, but Metropolis should come within 2-3 months. With Metropolis its expected also decrease of mining rewards which will be positive for ethereum price. POS should come out next year. For 1000 Ether, I think there will be the possibility of pools, lets say I have 500 ether and you have 500 ether, we can create a pool and stake and share the rewards. I believe in ethereum development team, and they wont let Ethereum be centralized like Bitcoin is.
Thanks, I followed you too.

thanks. yeah i read about those pools too. not sure why that is better than single POS 'miners'. Indeed its an option to do, but still, what is the point? In that case we may suddenly have a few very powerful pools that are currently in BTC as well, but then as POW...

It's because masternodes are verifying transactions. The high amount(1000 ETH) is required so you can't cheat. Otherwise you could alter transactions and not get penalized. If you try to cheat the system and make fake transactions, you will end up losing the 1000ETH. It's a kind of a bail and assurance to the ETH network that you will only verify valid transactions

Understood but could a POS pool still not do the same thing, but then with other peoples money?

@attalis you have a valid point, lets wait and see. Also 1000 Ether is not a sure thing, it can be less. I'm just assuming but it should be possible to create decentralized pools that rules can't be changed. This is just the beginning and possibilities are endless.

I myself am environmentalist and I think its a waste of resources for proof of work. There are other, nature friendly options.

If the one controlling the pool has access to the funds, they could just take your funds instead.
The point is, you shouldn't be able to gain more than you can lose. So even if you managed to cheat and get 900ETH, it's supposed to be so you can never get more than 1000ETH, and your profit will always be negative(loss)

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