When Will Ethereum Disappear (When Will Ethereum PoW)?
When will Ethereum disappear? Why would Ethereum suddenly disappear from the net
When will Ethereum disappear? Why would Ethereum suddenly disappear from the network if it doesn’t affect its value? The decrease in Ethereum’s price is due to people’s interest in Bitcoin’s price. However, during the bull market in 2017, many people began to doubt whether Ethereum would eventually die.
Ethereum’s founder, Vitalik Buterin, said, “I don’t know when Ethereum will die.” He has predicted that if Bitcoin falls below $30,000, it will become a global currency. So Ethereum is expected to survive forever, but its existence right now is only a hypothesis. So the question is, how is it possible for Ethereum to really disappear? The answer lies in when Ethereum will disappear.
The Ethereum project team and developers have expressed their desire to build a decentralized financial system (DeFi) with their own code. But at the same time, these smart contracts cannot truly make blockchain work. Therefore, Ethereum no longer has any users who can use them.
In addition, many teams are looking for alternative payment solutions, such as Lightning Network, stablecoins, or other similar products. Some people in the Ethereum community are also seeking to provide a solution to this problem. A recent report showed that there are currently about 200 projects developing ETH 2.0, waiting for the final version, which is expected to be launched on the mainnet by the end of 2019.
When Will Ethereum PoW?
Ethereum developer Tim Beiko stated that when Ethereum PoW will happen depends on the miners’ willingness. It is reported that in the past year, information about mining rules and consensus mechanisms in the community has been growing, but the lack of new consensus algorithms (such as proof of stake) has led to issues such as network downtime and high transaction fees becoming increasingly prominent.
According to data displayed on Etherscan, the average block reward for Ethereum on November 17, 2017, was 3.56 ETH, while the average block reward for the first quarter of 2019 was 11.43 ETH. On the last Friday of 2019, the average block time was approximately 4 hours, while the average workload for the first five weeks of 2019 was less than 2 hours.
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