Ethereum Developers Agree To Lower The Reward …

Ethereum developers agreed to reduce the reward for miners to 2 ETH and postpone the activation of the “difficulty bomb”

Ethereum developers, during a regular meeting on August 31, agreed to postpone the so-called “complexity bomb” by including a corresponding change in the code of the upcoming Constantinople hard fork.

One of the main goals of the Ethereum Foundation in the development of cryptocurrency is the transition to the Proof-of-Stake (PoS) consensus mechanism. To stimulate the speedy implementation of this and other important tasks, they have implemented a “difficulty bomb” that will complicate the process of releasing new blocks if updates are not implemented within the specified time frame. Constantinople hard fork is one of the main milestones designed to help the network smoothly transition from the Proof-of-Work (PoW) consensus mechanism to PoS..

Last week, the developers proposed three options for transferring the “complexity bomb”, involving interference in the emission of a new ether. According to EIP-858, the block reward should have dropped to 1 ETH, EIP-1234 – to 2 ETH, EIP-1295 – to remain at 3 ETH, but affect other factors, such as the reward structure in the PoW mechanism.

According to a post on GitHub, the developers have decided to accept the EIP-1234 script. Thus, it was decided to postpone the “difficulty bomb” for about 12 months and reduce the emission in the Constantinople hard fork to 2 ETH.

Ethereum Developers Agree To Lower The Reward ...

“Starting with` CNSTNTNPL_FORK_BLKNUM`, the client will calculate the difficulty according to the false block number, which allows the difficulty bomb to be delayed by 5 million blocks relative to what was proposed earlier in the Homestead fork. In addition, block rewards will be adjusted to 2 ETH, uncle- and nephew-block rewards will be changed accordingly, ”the message says..

At press time, ETH is trading at $ 287, up 2% over the past 24 hours, according to CoinMarketCap. Earlier it became known that the Chicago Board Options Exchange may launch futures on Ethereum by the end of the year.

Ethereum Developers Agree To Lower The Reward ...