Ethereum (ETH) Developers Cut Block Rewards By 33% to Delay ‘Difficulty Bomb’

[fitload]

On Friday, a group of 14 Ethereum developers spoke on a video call and agreed to support EIP 1234. A proposal that is expected to change how much ether enters the cryptocurrency economy. That proposal, if enacted, would reduce new Ether (ETH) emissions from 3 ETH per block to 2 ETH per block.

The developers agreed to delay the “Difficulty Bomb” by agreeing to include the code for such a change into the upcoming Constantinople hard fork.

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 the post:

“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.

Read More: https://news.bitzamp.com/ethereum-eth-developers-cut-block-rewards-by-33-to-delay-difficulty-bomb/

[Maymun_lavigne]

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https://www.coindesk.com/you-wont-have-to-wait-for-this-ethereum-scaling-solution-it-works-now/