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After a two-hour streaming conference, Ethereum core developers do not seem closer to agreeing on the future direction of the project, as we quickly approach the next major network upgrade.
Bi-weekly meeting # 45, conducted by Hudson Jameson, showed little progress from the group towards reaching a majority verdict on the main proposals for improvement of Ethereum (EIP) within mid-October, when the second fork of Metropolis, called "Constantinople", had to go and live. The frustrating and slow pace with which the dev community responded to the next update so far was underlined by Ethereum Software Developer, Péter Szilágyi at the beginning
"I think we wanted to discuss a simple fork at the start of the year, so the fact that we are at the end of the year and we have not done it yet, tells us how well we organize the hard forks. "
Another developer has also entered , claiming that feature-rich updates have been the main cause of the team's hard-working efforts in striking recent deadlines.
"We insist on behaving like a big company that distributes versions with a ton of features all together and therefore is not able to implement them because we can not get all the features are ready at the same time."
EIP issues [19659008] The main issues discussed by the current members on Friday were the reduction of the ETH block premiums, the delay / removal of the difficulty bomb and the proliferation of ASICs digging the Ethereum network; all this still remains in contention.
Three conflicting EIPs, in particular, were discussed at this conference and divided the miners, investors and developers of Ethereum very much on what modification of the code to make before the fork of Constantinople; 858, 1234 and 1295. All three proposed changes are neither forward nor backward compatible with the current blockchain and should be implemented using the Constantinople fork.
EIP 858
This proposal aims to greatly reduce the inefficient energy consumption of the current PoW mechanism by reducing the premiums of the ETH block from 3 ETH to 1 ETH; in an effort to minimize environmental impact and the overall appeal of the mining sector of the Eth. The name "Perinthos" has been proposed for this new chain.
EIP 1234
EIP 1234 claimed that the difficulty bomb, which gradually increases difficulties over time, should be delayed 18 months so that the network does not increase the miner's premiums, it would have a lot more blocking times rapid and therefore the current PoW mechanism could remain as stable as possible. The plan is also to reduce the premiums of the ETH block to the 2nd ETH to align the security aspect of the Ethereum PoW mechanism.
Brian Venturo, CTO of Atlantic Crypto, argued that reducing block premiums in this way would only serve as an advantage for ASIC miners because it would become too cost-effective for smaller GPU miners.
"The reduction from 3 to 2 is forcing the GPU out of the network and all that will be left behind is the ASIC community.If our goal is to remove the ASIC participation of the network, we will not do the opposite."
This ongoing problem with ASIC mining technology has sparked concerns about the fear that a small monopolistic miners community could potentially gain centralized control over a considerable portion of the network. A new consensus algorithm called ProgPow (programmatic PoW) has been proposed in EIP 1057 to combat this threat.
Blockchain specialist, Danny Ryan, commented on ProgPoW in closing during the meeting, accepting ETH 1234 'ETH Reduction on condition that this new mechanism was committed to.
"2 seems a reasonable compromise for me, and an investigation and a commitment to try and make ProgPow in 8 months seems to me also a reasonable element."
EIP 1295
The last EIP under discussion proposes to remodel the uncle's prizes and remove the grandchild's prizes altogether instead of reducing the overall premium of the ETH block. This ensures that the security and stability of the network are maintained and that miners are encouraged for their continued participation. The proposal also wants to completely remove the difficulty bomb so that network throughput is not progressively limited over time.
The next Core Dev meeting (No. 46) is scheduled for August 31, where the developers of Ethereum will have another opportunity to decide which long-discussed improvement proposal to take forward in the fortress of Constantinople.
"The reduction from 3 to 2 is forcing the GPU out of the network and all that will be left behind is the ASIC community.If our goal is to remove the ASIC participation of the network, we will not do the opposite."
"2 seems a reasonable compromise for me, and an investigation and a commitment to try and make ProgPow in 8 months seems to me also a reasonable element."
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