New EIP hopes to quell tensions between Ethereum’s miners and developers
A new Ethereum Improvement Proposal could offer a path to compromise between Ethereum’s miners and developers, but few in the community appear to support the EIP. A new Ethereum Improvement Proposal, or EIP, has emerged amid opposition from miners to scheduled changes to the network’s fee market. While some are looking to the proposal as a means to cool flaring tensions between Ethereum’s miners and developers, the EIP appears to have secured little support from the community.In recent weeks, tensions have escalated over EIP-1559 — an upgrade slated for integration in July that is expected....
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Ether miners coming out in force against the Ethereum Improvement Proposal that can slash the reward ratio by over 50%. The EIP-1559 is a network upgrade that seeks to send a small fraction of the fee associated with all ETH transactions directly to the network. The tokens will be subsequently burned, thereby reducing the overall number of coins in circulation at any given point. As a result of the proposal, many expect Ethereum’s existing scalability issues and transaction fees to be largely mitigated.Also, if EIP-1559 does go live, it stands to have a significant impact on the overall....
Ethereum appears to be hastening its transition to Proof-of-Stake, with developer Mikhail Kalinin publishing the specifications for the chain merge with Eth2. Ethereum’s developers appear to be hastening the network’s shift toward Proof-of-Stake consensus and away from the Proof-of-Work mining community.On March 11, developer “Mikhail Kalinin” published specifications for Eth2’s future blockchain merge with the existing Ethereum network. The documentation notes the consensus upgrade from PoS to PoW will be the core change enacted.6. This is usually called the "merge" - when the existing....
The closed-door meeting between Bitcoin Core developers and miners has affected the prices. With no information about the progress, price continues to fall. Bitcoin price has been exhibiting a downward trend from the past few days. The fall in Bitcoin price is attributed to uncertainties regarding the outcome of the meeting between Bitcoin Core developer group and miners. With the miners and developers continuing their meeting behind closed doors to discuss the future of Bitcoin, the digital currency community is left speculating about the future of Bitcoin. The Bitcoin network is in need....
Ethereum’s community is preparing for the second upgrade of a two parts hardfork plan to address a number of bugs that were exploited last month which slowed down the network to almost a halt. The first of the two parts hardfork was just under a month ago with Jeffrey Wilcke, founder of Ethlabs and one of Ethereum’s Geth developers, stating that the second hardfork will initiate at block number 2,675,000 which is expected in about seven days. All node operators therefore, especially any Ethereum based business and miners, will now need to upgrade to the newly released Geth client or the....
Miners in Vietnam have expressed grievances over the loss of business following Ethereum’s transition to a consensus mechanism that does not require the energy-intensive computing they were providing. Many are in trouble, local media reported, quoting entrepreneurs and mining enthusiasts.
Cryptocurrency Miners Hit by The Merge, Vietnam Report Reveals
Vietnam’s crypto miners have suffered heavy losses with their mining rigs now shut off after the second-largest cryptocurrency by market capitalization switched to a more energy-efficient framework, VN Express noted in....