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

[HappyWhiteHuman]

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.

The summary of the post states:

“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.
https://www.ccn.com/ethereum-developers-strike-deal-to-delay-difficulty-bomb-reduce-block-reward-by-33/

[rsrb]

Ethereim markey is falling in lose recently. I am not aware of its strike by developers.But i know something difficulties are happening with ETH.

[Red-Apple]

i love how centralized coins work. you just flip a switch and the coin changes
you don't have to come to any sort of consensus or anything because you fully control everything yourself. you just have to decide which way you want to go and then go that way.

they were supposed to switch to PoS months ago but the fear of killing the coin since miners would leave has been a preventing force specially these days that ETH is losing value day by day.

[FrozenPhantom]

Constantinople is the next hard fork of Ethereum. The aim of this next hard fork is to lower transaction fee and increase efficiency. It will work by changing a smooth transition from proof of work to proof of stake.

[HonestAlien]

They are taking into account of the delaying of the difficulty bombs as well as setting time on the fork coins too. All in all, this does like a good initiative that is being taken into place.

[FruitSprite]

This does look like the team has put a lot of thoughts and efforts in it. And it does look like they are trying to make the situation of the market for the better.

[Barrycuda7]

This does seem like a good initiative to be taken by the team. We do need some regulations given how much scams are taking place and this will at least give the investors some assurance too.

[sponge_bob13]

And yes, they have agreed to postpone the difficulty bomb. This will be a decent news for the community.

[Lagrood]

Such interesting improvements happen quite seldom so it is wondering how such changes will effect on price. As I have understood these changes are useful for the future ETH consumers but what about investors who are holding ETH hoping to go out of ETH without looses? Actually I am tired to hear about the brilliant future of ETH because I see on the chart and ETH has slashed from 600$ till 300$ showing huge weakness. Anyway I would not invest in ETH right now despite of any positive news because actually ETH is not going to grow significantly in the current year. Investing in ETH now it need to understand that such an investment is quite fragile.

[royalcrypt]

They are not incorporating a difficulty bomb, it has always been there to ensure that miners cannot fork away from PoS once it is released. The upcoming hard fork just delays the difficult bomb further to give more time for the development of PoS and sharding.