As Ethereum forks its way into becoming a full-fledged PoS cryptocurrency, the new year of 2020 is expected to bring a rise of ETH's price across the crypto market. While Bitcoin is still the true indicator of altcoins' prices, Ethereum could experience a short boost in price due to people's excitement of the release of Casper PoS on the ETH blockchain. I have to admit that development has been somewhat slow, but everything has been done in a safe and secure way. Maybe 2020, will be the year Ethereum goes full PoS? Or maybe the dev team will delay the process until further tests are made?
Whatever the case will be, it looks like this year will be ETH's biggest one yet as it's one step closer towards becoming a PoS cryptocurrency. At first, it'll be a hybrid PoW + PoS coin until its ready enough to become a completely PoS coin. Staking Pools will be the hottest trend of 2020, as people who cannot afford the minimum requirement of 32 ETH to become a validator, will simply resort to these services. With a PoS version of the Ethereum blockchain, the competition will be fierce among other competitors such as EOS and Cardano. On the other hand, Ethereum Classic (ETC) will retain its PoW consensus algorithm distancing itself from Ethereum in every way. Maybe ETH miners will flock into ETC once the former does the transition from PoW to PoS?
What are your thoughts?
Is everyone a fan of this update? I don't really know a lot about PoS vs PoW but it seems some people do still prefer PoW over PoS. These people who prefer PoW over PoS might turn away from ETH to ETC once ETH gets full PoS. If that's the case, it's not good for ETH and opens the chance for the "flippening" for ETC if more people prefer the initial PoW.Whatever the case will be, it looks like this year will be ETH's biggest one yet as it's one step closer towards becoming a PoS cryptocurrency. At first, it'll be a hybrid PoW + PoS coin until its ready enough to become a completely PoS coin. Staking Pools will be the hottest trend of 2020, as people who cannot afford the minimum requirement of 32 ETH to become a validator, will simply resort to these services. With a PoS version of the Ethereum blockchain, the competition will be fierce among other competitors such as EOS and Cardano. On the other hand, Ethereum Classic (ETC) will retain its PoW consensus algorithm distancing itself from Ethereum in every way. Maybe ETH miners will flock into ETC once the former does the transition from PoW to PoS?
What are your thoughts?
How soon is this update could come into effect? It doesn't look too big to me though, I don't see why going into PoS could boost ETH price to new high. Especially if the high is in the range of thousands
It will need an even crazier bull run than 2017 to achieve that in my opinion, not just a PoS update.