The r/Ethereum community, which has over 1,300,000 members interested in Ethereum’s (ETH) development, has issued a statement to dispel the most prevalent misconception about Ethereum’s (ETH) shift to proof-of-stake.
According to u/CommunicationNo3845, an Ethereum (ETH) advocate on Reddit’s r/Ethereum forum, some crypto enthusiasts have unrealistic hopes for Ethereum’s future (ETH). It claims that Web3 supporters are anticipating the debut of the new Ethereum (ETH) as a fresh product on a specific date. Normally, projects announce the exact date of their mainnet or testnet rollout, but this will not be the case with the flagship smart contracts platform.
Rather than waiting for a fictitious “Ethereum 2.0 deadline,” Ethereum (ETH) supporters would be better served by focusing on two distinct tasks: the transition to proof-of-stake (PoS) as a technical foundation and the deployment of a sharded network architecture. Experiments with rollups as a viable option for Ethereum (ETH) scaling is another area of R&D work emphasised by Vitalik Buterin, the project’s inventor. This message has received a lot of support from the community, with over 400 upvotes in the first 12 hours after it was published on r/Ethereum.
Meanwhile, the Ethereum (ETH) proof-of-stake deposit contract, which is a key component of the staking tokenomics, has achieved yet another milestone. It now has 11,041,778 Ethers, or $38.7 billion in equivalent, in its possession. If it were a publicly traded business, the Ethereum deposit contract would be worth as much as Motorola, BNY Mellon, Nornickel, or ST Microelectronics.
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