The developers of Ethereum are moving to reduce the creation of new cryptocurrencies


A proposal that, if approved, would change the amount of new cryptocurrency released on the world's second largest blockchain was finalized on Friday, with developers agreeing to include the code for such a change as part of the update of October of ethereum, Constantinople.

Speaking to a video call, a group of 14 developers agreed to support the code that would reduce the amount of new cryptocurrency introduced on ethereum to 2 ETH per block, down from 3 ETH today, implementing an updated version of an upgrade ethereum update referred to as EIP 1234.

In particular, investors and miners who attended a meeting where updates should be included in Constantinople last week were not invited to this meeting and did not participate.

But while this week's meeting presented a limited number of participants, those present agreed that the bomb of difficulty – a piece of code intended to add the pressure of time to updates, and that influenced the discussion of Constantinople code of – will be delayed for a period of 12 months.

Yet another hard fork, or update of the network software, will be planned for 8 months from the update in Constantinople, agreed upon by the developers.

With controversies that are based on the change of the issue – and more parties discussing different outcomes – a reduction to 2 ETHs has been placed as a conservative choice.

Depending on the perceived result of the change to the ethereum code, security researcher Martin Swende suggested revisiting the application after the 8-month period.

"I think we too must be careful with the changes and make changes incrementally, and not dictate changes against the will of the community, but apply conservative measures in making changes, but try to keep the community intents ", said Swende during the call.

Speaking at the meeting, Casper's developer for the Ethereum Foundation Danny Ryan echoed this point, stating that the issue should decrease dramatically in an upcoming update that ind ethereum making a radical change in the way it where the network is protected, a decision in the meantime should be seen as "incremental compromises until we reach the vision".

"Everything I see in the discussion of the issue is an incremental compromise to encourage the community and move things in a healthy way until we pass the test of the stake, which will bring the issue to a maximum of 0.5 or 1% in the year, at which point I think the community will surely be happy.These are incremental trade-offs until we reach that goal, "Ryan said.

There has not yet been a decision on a modification of the algorithm that would limit the use of ASIC, a type of specialized data mining hardware, from the platform. [19659002] During the meeting, several developers argued that research should continue in this direction, while Ryan said there could be potential funding from the Ethereum Foundation.

"There's a potential for a grant here," Ryan said.
Other non-contagious updates for the next hard fork have also been confirmed.

As detailed by CoinDesk, these include EIP 145, EIP 1014, EIP 1052 and EIP 1283, which increase efficiency and scalability.

"Everyone is accepted and we are all in agreement with the four Constaninope EIPs", concluded the developer of ethere Piper Merriam.

Mining hardware through Shutterstock

The leader in blockchain news, CoinDesk is a multimedia point of sale working for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Source link