On August 24th, the Ethereum Developers gathered for their regular Q&A live stream on Youtube. The Ethereum Developers gather regularly to talk about Ethereum’s development and progress. This time, they gathered to discuss the progress and development of the long awaited hard fork, Constantinople, Enterprise Integration Patterns (EIPs), scaling issues, difficulty bomb, the road to Proof-of-Stake (PoS) and more.
Ethereum Developers still have a lot to work on
The Ethereum Developers meeting was fruitful and it started with discussions from the whole team. One of the things that was decided was that new hard forks will be released every 8 months, instead of every 6 months, because it would complicate and pressure the work of Ethereum Developers. Another major topic was the difficulty bomb. Ethereum Developers proposed to add a difficulty bomb and its impact was discussed among the team. The idea of a difficulty bomb is to reduce and maintain block rewards. The proposed EIP-858 will reduce block rewards down to one Ether per block, EIP-1234 will reduce block rewards to two Ether and EIP-1295 will keep rewards as they are – three Ether per block, but it will affect the Proof-of-Work (PoW) structure and more.
There wasn’t a clear consensus from Ethereum Developers on the EIP subject. There are three propositions and the developers called the Ethereum community to state their opinions. About Ether mining, there were two big points: the effects on the environment and decreasing the effectiveness of ASIC chips or removing them entirely. A consensus wasn’t reached so another group meeting is scheduled tomorrow, 31th August, where most of the unanswered questions will be answered. Another topic from the last call was the latest updates on the Ethereum network like no-proof tests, progress that was achieved on major Ether clients, revamping some tests to avoid consensus problems and other updates that may lead to instability if they aren’t threated properly.
About the long awaited hard fork – Constantinople, there weren’t any big news. Ethereum Developers are fixing bugs, looking for faulty codes and tweaking this or that. A key point was for the project to stay on track and continue enrolling the Ethereum whitepaper, without rushing anything. If the changes and updates are too much for the Ethereum network to handle, that’s when the second hard fork will come in handy:
“If we delay the project in time, we would want more features to this particular hard fork (Constantinople) and we should discuss if it’s good to have many updates in one fork, or if it’s better to have less updates, but in many hard forks”
If you want to watch the previous meeting, click the link above and if you want to read more on Ethereum – click the links below.
- Security Token Offering (STO) Guide: Everything you need to know about STOs - Feb 28, 2019
- Coinbase Pro is adding Ripple (XRP) support for trading - Feb 27, 2019
- Top ICOs of 2018: Initial Coin Offerings that beat the Crypto Bear’s market - Feb 26, 2019
- Ethereum hard forks Constantinople and St. Petersburg scheduled by the end of the week - Feb 25, 2019
- Ethereum founder and CEO, Vitalik Buterin revealed his non-Ether holdings and revenue sources - Feb 22, 2019
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