On Friday, a group of 14 Ethereum developers spoke on a video call and agreed to support EIP 1234. A proposal that is expected to change how much ether enters the cryptocurrency economy. That proposal, if enacted, would reduce new Ether (ETH) emissions from 3 ETH per block to 2 ETH per block.

The developers agreed to delay the “Difficulty Bomb” by agreeing to include the code for such a change into the upcoming Constantinople hard fork.

Constantinople is designed to increase efficiency and lower transaction fees on the blockchain. It’s a protocol upgrade that seeks to smooth the transition from a Proof-of-Work (PoW) consensus algorithm to Proof-of-Stake (PoS).

According to the post:

“This EIP proposes to delay the difficulty bomb for approximately one and a half year and to reduce the block rewards with the Constantinople fork, the second part of the Metropolis fork.”

The developers present at the meeting also agreed that the difficulty bomb should be delayed for a 12-month period. Another hard fork will be released eight months from the Constantinople upgrade, developers agreed.

Speaking in the meeting, Casper developer for the Ethereum Foundation Danny Ryan echoed this point, stating that because issuance is likely to drop considerably in an upcoming upgrade that will find Ethereum making a dramatic changes in how the network is secured, a decision in the interim should be seen as “incremental compromises until we get to the vision.”

Ethereum (ETH) Developers Cut Block Rewards By 33% to Delay ‘Difficulty Bomb’

Read More Via the Link Below


Like it? Share with your friends!

519
1.2k shares, 519 points

What's Your Reaction?

lol lol
200
lol
scary scary
133
scary
omg omg
66
omg
wtf wtf
604
wtf
win win
467
win
fail fail
400
fail
Love Love
333
Love
hate hate
66
hate
confused confused
267
confused

Leave a Reply

avatar
  Subscribe  
Notify of
Choose A Format
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Meme
Upload your own images to make custom memes
Image
Photo or GIF
Video
Youtube, Vimeo or Vine Embeds
Gif
GIF format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Countdown
The Classic Internet Countdowns