Ethereum Developers Strike Deal to Delay Difficulty Bomb, Reduce Block Reward by

[Shyamthakur2]

Ethereum Developers Strike Deal to Delay Difficulty Bomb, Reduce Block Reward by 33%

CCN
Jimmy Aki in Ethereum NewsNews
Ethereum Developers Strike Deal to Delay Difficulty Bomb, Reduce Block Reward by 33%

A proposal that is expected to change how much ether enters the cryptocurrency economy was finalized on Friday, Aug. 31, as developers agreed to include the code for such a change into Ethereum’s next hard fork, Constantinople.

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 a GitHub post merging the changes, a group of 14 ethereum developers, present on a video call, agreed to implement the EIP-1234 — an updated version of Ethereum’s improvement upgrade designed to, among other things, reduce the amount of new ether produced to 2 ETH per block w from the current 3 ETH per block.

[bttmember]

I think with such low prices the block reward should not be reduced, let the price cross over 1k mark then they should reduce the reward and increase the difficulty because at the moment mining is already not profitable with further inrease in difficulty and lowering the reward even the major mining setups will not be able to sustain.