The proposed launch of Ethereum 2.0 could make the blockchain network have two tokens at the same, resulting in a community clash, the creator of Cardano, Charles Hoskinson has said.
The brain behind the research-backed blockchain project Cardano said ETH 2.0 proposed last year and adopted this year is not coming anytime soon, and if it does, it will likely deliver a big crypto mess, giving the Ethereum community a reason to wage war and become separated.
While ETH 2.0 was proposed in 2019, researchers and blockchain experts saw the possibility of the network getting complicated with both ETH 1.0 and ETH 2.0 working as a separate token for some time.
Eth 2 isn't coming soon. It's a deliver mess and they will likely have two tokens at the same time and a community fight
— Charles Hoskinson (@IOHK_Charles) January 13, 2020
The similitude of this happened during the DAO hack where faceless hackers carted away with 3.6 Mln ETH. During this time, it was agreed that Ethereum (ETH) be hard forked. The remnant of the issue became what is known today as Ethereum Classic (ETC).
The moment, the said Ethereum 2.0 is officially launched, Ethereum smart contract will run into issues since both ETH 1.0 and ETH 2.0 will co-exist and be priced differently on exchanges.
We're heard this before with ETC (the original chain, btw). What is likely to happen to the ETH 2 chain is exchanges listing and labeling a separate distinct token from ETH (1). There will then be two tokens with different prices. Vitalik is trying to fight reality again. pic.twitter.com/ogMfQNV2Tu
— grubles (@notgrubles) October 13, 2019
The proposed Ethereum 2.0 by Vitalik Buterin is being seen as a means to security-conscious Ethereum network.
The Ethereum core developers have agreed to activate phase 0 of Ethereum 2.0 but a date has not been fixed yet.
Charles Hoskinson: Cardano’s Hydra protocol is 5 times Faster than Ethereum Network
Charles in an earlier comment during a video AMA with the Cardano community said Hydra Protocol, which is the next-generation protocol on Shelley, expected to be completely ready in February 2020, is five times faster than that of Ethereum.
“This protocol is quite good,” the CEO of IOHK said about the protocol, adding that it will accelerate Orobouros.
“There is a lot more room for improvement but we feel can dramatically accelerate Orobouros from where we are currently sitting, which is already on, even a conservative estimate, at least five times faster than what’s Ethereum is at its peak efficiency.”