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September 01, 2018, 04:45:01 PM |
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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.
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