In a YouTube video, Lee the Captain discusses the recent Ethereum 2.0 merge and its significance for Casper. While Ethereum’s move to proof of stake is relevant, there are already other Layer 1 blockchains with proof of stake. Moreover, Ethereum’s scalability issues still persist, and it may take another 4-5 years before Ethereum 3.0 can address them. By contrast, Casper’s fundamentals and future potential outweigh those of Ethereum, and its development is moving at a much quicker pace. Casper 2.0 is expected to introduce improved consensus mechanisms, unified accounts and contracts, and an open validator model by Q1 2023.
The Rise of Casper in Comparison to Ethereum 2.0
In this video, Lee the Captain talks about the recent Ethereum 2.0 merge and what it means for Casper. He shares his thoughts about Casper moving forward and why it could potentially overtake Ethereum as the blockchain of choice for many institutions.
Ethereum 2.0 and Proof of Stake
Lee begins by discussing the recent Ethereum 2.0 merge, which has now made Ethereum a proof of stake blockchain. He acknowledges that this is a significant occasion, as no layer one blockchain has ever changed its consensus in the middle of operation.
Lee understands the benefits of being a proof of stake blockchain, but he does not believe it is revolutionary. He highlights Casper as an example of another layer one blockchain that already has proof of stake.
Benefits for Ethereum Holders
Lee discusses how Ethereum going to Ethereum 2.0 and becoming proof of stake is bullish for Ethereum holders. The amount of Ethereum being released out there has decreased by 90%, making Ethereum less inflationary and have the potential to become deflationary.
Ethereum Not Scalable
Despite the benefits, Lee brings up the point that Ethereum is still not scalable, even with the 2.0 merge. He shows a tweet by Charles Hoskinson, the co-founder of Ethereum and founder of Cardano, that highlights the roadmap for Ethereum moving forward. It shows that it will take another four to five years for Ethereum to go to Ethereum 3.0 and become scalable.
Casper vs Ethereum
Lee mentions how Ethereum’s roadmap is so long and slow, much like companies that refuse to adopt the internet 20 years ago, such as Blockbuster. He believes that Ethereum is relying on their prestige and history, but in the world of crypto, institutional adoption is what matters. He sees Casper as the blockchain that could overtake Ethereum because it is fundamentally better in every way possible.
Lee finishes by highlighting how Casper is constantly building and developing to be bigger, better, and stronger than ever. He mentions how Casper 2.0 is coming and will realize Ethereum 3.0’s most ambitious features by Q1 of 2023. Lee believes that the future potential of Casper is going to be tremendous, and people may be surprised they did not invest in the blockchain earlier.
In conclusion, Casper’s potential to overtake Ethereum is growing stronger with its constant developments, while Ethereum’s roadmap proceeds at a slower pace. Time will tell which blockchain will be the go-to choice for institutions, but Casper’s vision and outlook seem to be leading the way.