ETH developers vote several times to disable the difficulty time bomb in order for the miners to get some grace time and seek block rewards. Ethereum faced a huge dilemma moving to proof-of-stake in the usual way and now we see what the developers think in the Ethereum latest news.
The next delay of the difficulty time bomb will likely happen for the Berlin hard fork which is scheduled for June 2020 and the latest hard fork is expected in December 2019 that will also go without the final drive to abandon the mining activities. Leaving the mining is considered as an empty-promise from Ethereum’s team. Despite the network problems that were based on the proof-of-work model and also the congestion based on gas usage, the proof-of-stake for Ethereum will only be partial so the miners will still be important.
The latest delay rumors follow the Istanbul fork that caused a major split of the Ropsten testnet. The event even promises another possibility- despite moving to another block production model, the miners are influential enough to keep the block still producing. There are now some bigger fears from the ETH developers that Ethereum may end up with two competing chains. This resolution of the conflict is still unknown as the rule of the longest chain can be shifted and some new assets can be produced.
Ethereum’s hash rate has grown slowly by more than 20 percent since the start of this year. The miners are still influential and they can decide not to give up their positions. However, the ETH mining growth is more tentative because there is high uncertainty around the difficulty time bomb. The protocol-level invention was created when Ethereum was created as well and the goal was to make mining too difficult to be viable and to encourage proof-of-stake.
Over the years, the usage of ETH evolved and this could make hard forks much more difficult. Vitalik Buterin has explained that with the rise of decentralized finance or DeFi, the Ethereum network could become ‘unforkable.’ If these branches continue to exist, it could create a huge mess of liquidation and tokens with an uncertainty that can provide a legacy ground for the network to define future liquidity of stablecoins.
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