Currently, last preparations for the beginning of the process of starting a new blockchain Ethereum 2.0. Some users wonder whether in this case to be two different coins with different prices.
You probably know that the new blockchain will work on the consensus algorithm Proof of Stake (PoS). Anyone will be able to send ether (ETH) in the blockchain through Deposit contract, which will destroy ETH in the old blockchain and will create the same amount in the new one.
So it’s not hardwork, but rather a migration. Blockchain Proof-of-Work (PoW) will work for at least three years simultaneously with bloccano PoS, but the current proposal is that at zero phase, users will be able to move the air from the old blockchain to the new, but will not be able to return it back to PoW. There is also a proposal to create a bilateral bridge between blockchains 1.0 and 2.0.
The pros and cons of each solution given below:
- Stability, deposits can only grow;
- Less difficulty with code in the early stages;
- Keeps ppl were isolated for each blockchain.
- High risk long term lock for the first stakanov;
- The creation of two coins;
- Fragmented community/economy.
- Lower risk long-term lock — greater inflow of deposits;
- Keeps only one coin ETH (no ETH2/BETH);
- If there’s a problem with Ethereum 2.0, you can return the coins.
- High volatility common steak;
- The additional complexity of the code in the early stages.
Despite the relative advantage of two-way bridge, a researcher Ethereum Foundation Danny Ryan explained that it was not included in the zero phase because this would slow down the development of Ethereum 2.0. However, it’s unclear when it will be added complete interchangeability in Ethereum. Joseph Lubin from ConsenSys said that the full sharding can be implemented by the end of 2020, because the first and second phases should be merged.
Danny Ryan, said: “as soon As they added a new shard 1024, user can transmit ETH directly to the shards of the PoW blockchain. In the long term it is planned to convert the status of a PoW in one of the shards”.
At conference Devcon was a debate about whether exchanges to indicate the air just as ETH or they will need to add a new Ticker (ETH2 or BETH).
We can assume that aired on the exchanges will be divided into ETH1 and ETH2, because in fact one is in the blockchain PoS and the other PoW, and try to send broadcast from PoS to PoW-address will not be different from sending a broadcast to the bitcoin address (also known as will be implemented and the formats of addresses that are supposed to be different).
Thus, in contrast to hard forks, each will be only one coin (because when you move to a new blockchain “old” air is burned), but two different blockchain could create two different prices.