So, by now you've probably read the news that the merge isn't going to happen in June after all... we've heard this before, actually, we've heard the same thing for years.

I was around when Vitalik first began talking about how he would scale Ethereum (not 2.0, way before) using a mix of CASPER PoS and shards... that never happened.

Instead, they suddenly began copying the approaches of newer blockchains and now want to rebuild Ethereum from scratch, whilst trying to pass it off as an "upgrade" when it's obviously not.

Ethereum 2 has nothing to do with Ethereum... Most people have yet to realize this. It's a completely new blockchain, with an EVM.

EVM stands for Ethereum Virtual Machine. If a blockchain has an EVM, that means they can run the solidity smart contracts that are currently operating on Ethereum. We're already seeing the arrival of these on other blockchains.

Why is this bad for Ethereum 2? In order for this to make sense, we have to understand that even the theoretical promises made by Vitalik are weak in comparison to what is already being achieved by other blockchains on their EVMs.

From the previously linked post by Vitalik himself:

Today, Ethereum has ~15 TPS.

If everyone moves to rollups, we will soon have ~3000 TPS.

Once phase 1 comes along and rollups move to eth2 sharded chains for their data storage, we go up to a theoretical max of ~100000 TPS.

Eventually, phase 2 will come along, bringing eth2 sharded chains with native computations, which give us… ~1000-5000 TPS.

I don't know about you, but I am personally sick and tired of empty promises and theoretical numbers.

Phase 1 No one knows when that is and they've just pushed the deadline.

Phase 2 Promises a max of 5000 transactions per second.

Guess what? Other blockchains already have fully functioning EVMs operating at 10.000 TPS... actual proven numbers and twice what Ethereum 2 has to offer on a theoretical level.

Sick and tired of empty promises and the current 15 TPS offered by Ethereum? Imagine how much worse you would feel if you were actually building on it and investing huge sums of money.

Other EVMs already exist... these work and they already obsolete the Ethereum 2 roadmap.

That means any Ethereum developer out there can abandom ship at any time.

I predict a mass exodus and have already begun hedging my bets.

​

EDIT

Everyone should read this article: https://blog.devgenius.io/comparing-evms-a-developer-perspective-31bfe7d6e2be