Crypto community divided over Ethereum 2.0

[Yugocean]

After the final rehearsal of Ethereum on the Goerli testnet has been completed, preparations have begun for the final step of the ETH2.0 mainnet merge. This has divided the crypto community, some networks are ruling in favor of it, while others are objecting due to risks.

The crypto communities, which announced their support for the merger, are - Biconomy, Bitfinex, BitMEX, Digifinex, Gate.io, Huobi, MEXC, and Poloniex. In addition Circle and Tether have announced support for the Ethereum network only, this will allow their stablecoins to not run on other networks after ETH 2.0.

Some networks are opposing ETH2.0. For example, the Chainlink (LINK) protocol has made it clear that it will not support the new Ethereum network.

The crypto world has never been unanimous on anything, so not every network here is enthusiastic about it. All eyes are on the 15-16 September 2022 merge that will create the new architecture of Cryptoworld

 

[Blord]

Ethereum 2.0 might end up being a very big headache for everybody

 

[Shaf]

There is nothing that is without disadvantages. From what I've observed though, majority of the cryptocurrency community are anticipating the Ethereum merge and whatever changes it might bring to the field especially in terms of price of the coin.

A lot of people think it will be a 'buy-the-rumor, sell-the-news' type of event and price may skyrocket a few days before the merge. With the recent bearish price action of Bitcoin and it's general effect on the market, this event can cause a further steep decline in the prices of all altcoins.

For developers whose applications are on the Ethereum Blockchain though, this should be a highly welcome development. As the most widely used Blockchain despite the relatively higher fees compared to other Layer 1s, it's important that the team of developers continues working to bring new and innovative features that serve the users positively.
Those who are against it may probably see it as competition, hence their decision.

 

[kriptopoulin]

You're working very hard. I appreciate you sharing with the neighbourhood.