Crypto influencer Lark Davis urges ETH 2.0 launch amid insane fees. It also indicates that the high fees in Ethereum are causing a massive migration of investors to Binance Smart Chain (BSC).
Also, Lark Davis, asks Ethereum creator Vitalik Buterin to rectify the problem with the long-awaited launch of ETH 2.0.
You have to keep it real right now. We need ETH 2.0 so soon. Come on Vitalik, start it up man.
Lark Davis calls for ETH 2.0 to be implemented
In a new video, Lark Davis tells his thousands of subscribers that while he is bullish on Ethereum (ETH), the fees have gone ‘crazy’. In addition, Lark Davis urges Buterin to implement ETH 2.0.
In fact, it has sparked a massive migration of investors to alternative decentralized finance (DeFi) platforms such as Binance Smart Chain (BSC).
Lark Davis says that Ethereum is becoming a chain reserved only for the rich. And, that fees are likely triggering the explosion in popularity of Binance Smart Chain’s native BNB token and BSC-based decentralized exchange PancakeSwap (CAKE).
Ethereum at this point is turning into a chain for wealthy investors. Well, if you can afford it.
When will Ethereum 2.0 be released?
On December 2, shortly after the long-awaited launch of Ethereum 2.0, the founder of the platform, Vitalik Buterin, announced an updated roadmap.
The roadmap I made back in March updated with (very rough and approximate!) Progress bars showing what has been done and some of the recent tweaks to the roadmap itself.
A lot has been accomplished, but still a lot remains to be done! pic.twitter.com/4zIK4aTNTh
– vitalik.eth (@VitalikButerin) December 1, 2020
In short, there is still work to be done. Therefore, the crypto community does not expect the full launch of Ethereum 2.0 until 2022 or 2023, and it may be rolled out.
As a consequence, the Ethereum development team has been repeatedly criticized for missing deadlines and constantly delaying updates.
While a solution may not be too far off, Lark Davis believes that until ETH 2.0 can be implemented, investors will continue to “vote with their feet”, using profitable alternatives.
“The message is quite clear from investors. People are voting with their feet here. People want to use DeFi, but they are not interested in paying $ 50 to swap for coins or a few hundred dollars to provide liquidity.
They just don’t want to do that. And they are right not to want to pay those fees.
Finally Lark Davis stated: “You need to deal with the reality of Ethereum right now.”
I say goodbye with this phrase from Herman Melville: “It is better to fail in originality than to succeed in imitation.”
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