Ethereum 2.0 is almost ready for the launch, and the entire crypto world is looking forward to it with anticipation. However, the growth of interest in decentralized financial products gives reasons to doubt the success of the new Ethereum network. Will it manage to attract enough users when there are so many other attractive options on the market?
The staking option in a new Ethereum network allows participation for each user who purchases no less than 32 ETH. These tokens will be locked inside the network for an indefinite period of time. The profit will be charged to their owners based on the number of tokens, and its amounts will be variable. It works basically the same way as deposits do in traditional finance.
But let's not forget that Ethereum tokens are actively used in DeFi projects that are booming and multiplying every day. Research in the DeFi field doesn't stop, and new blockchain networks that show better scalability than Ethereum already exist. This feature reportedly won't be improved within the new Ethereum networks. In addition, DeFi networks can offer their users profit from tokens they purchase, unlike Ethereum where the purchased stake will be just locked inside, waiting for a miracle.
The question is, will Ethereum be able to compete with such a great lot of alternative projects? Are there chances that ETH holders will consider investing their tokens in DeFi rather than in Ethereum 2.0? If there won't be enough stakeholders in a new network, it will become just another basic centralized project. Chase Wright, a network safety expert, has already found imperfections in it. He is concerned about the absence of successful forks and thinks that the team is in too much hurry to launch it faster and this can make the project lose in quality.
In their report, Consensys Codefi sound concerned about the future of Ethereum 2.0. They mentioned the main factors that may influence the opinions of potential investors. Analysts suppose that they will make decisions according to their personal experience with blockchain projects, the volatility of old and new ETHs, and the exposure of ETH on the market.