The team of Ethereum including Vitalik Buterin shared their expectations over Ethereum upgrade into Ethereum 2.0. According to Vitalik, Ethereum 2.0 will not solve their future problems in the long term because of the revolution in blockchain technology.
Ethereum is the second largest market cap coin of cryptocurrency market and in present time numbers of projects are running on Ethereum network.
But as we all know, Ethereum is based on Proof-of-work consensus of blockchain mechanism protocol, which is the most traditional consensus. Even Ethereum has a double scalability factor in comparison to Bitcoin scalability which is 30 transactions per second.
Now, according to the situation & demand, the Ethereum team is almost ready to shift Ethereum from Proof-Of-Work consensus to Proof-Of-Stake ( Ethereum 2.0).
Ethereum 2.0 is a most awaited Update for the crypto community & specially for Ethereum holders/lovers. Because the crypto community has expectations & believe with Ethereum team over development work for Ethereum 2.0.
But here opinions are coming from the team of Ethereum, they don’t have much expectations with Ethereum 2.0 because with this upgrade they will be able to import some new upgrades in future. But the expectations that cryptocurrency community have with Ethereum 2.0 is very high,
Crypto community believes this upgrade will bring lots of adoption of Ethereum Network & Ethereum use for transactions because of low fees.
But according to Vitalik chances of more adoption is very less for Ethereum because Ethereum is already in use with a number of projects.
Many Crypto Experts shared their point of view at this statement of Vitalik regarding ETH 2.0. According to experts Vitalik Buterin is a fully transparent person and he believes in his hard fork. He can create even better and perfect coins for the cryptocurrency market but the problem is Ethereum, which is based on old traditional consensus and coding programing. Upgrading may bring efficiency in Network at a huge level but there is a reason for the lack of adoption of Ethereum.
In the present time numbers of better Blockchain networks are available which are still better than Ethereum and Ethereum 2.0 ,which will come later in 2022.
Many projects whether they are based on Defi ecosystem or traditional ecosystem, all of them will go with high efficiency platforms instead of Ethereum. For example Tron Network ( TRC-20), Solana Protocol Network, Binance Smart Chain etc are much better in the present time and also they will compete with one sided results against Ethereum 2.0, then why new projects will adopt Ethereum Network to lag their own ecosystem.