The meeting, which was attended by a wide range of players from the ecosystem of Ethereum, who discussed important changes in the code on the eve of the October update, did not bring tangible results. This is written by CoinDesk.
On the agenda of the bi-weekly conference call of developers, which this Friday involved most major miners and some well-known investors, a number of issues related to the economy of Ethereum, the speed of its updates and mining methods, as well as the creation of a mechanism for resolving contradictions during future updates.
Despite the dialogue that lasted about two hours, it was decided to hold a second meeting on August 31. The need for urgent action is also due to the so-called “complexity bomb”, which is designed to encourage developers to make timely changes to the protocol and is currently installed at the beginning of 2019.
Particular attention was paid to the problem of the quantity of the ether being emitted and its distribution with the release of each new unit. Technical director of Atlantic Crypto mining company Brian Venturo and software developer Matthew White urged not only to reduce emissions, but also asked when developers are going to limit the maximum amount of air.
If their proposal is satisfied, it will signify a deviation from the current road map, according to which the restriction is not planned to be introduced before the proof-of-stake mechanism is adopted, and the need for the mining equipment will disappear altogether.
The CEO of the Sparkpool Mining Pool, which controls more than 20% of the Ethereum hash, Xin Xu warned of the consequences that could result from a significant reduction in block awards.
“There is a critical point. When we get to it, everything will break, and nothing will be returned. I believe that changing the issue will have a big impact on security,” he said.
Although the developers plan to move away from the proof-of-work consensus mechanism at a later stage, one question remains in the current environment: should we allow the use of specialized equipment that makes today’s GPU-miners forced to abandon the production of Ethereum? The relevance of the issue is related to the recent release of ASIC-Miner, designed to increase the profitability of Ethereum mining.
Given the fact that lower emissions will lead to a drop in the income of the miners, developer Danny Ryan admitted that blocking ASIC-miners may prove to be a “justified compromise” for those who continue to use video cards.
Developer Hudson Jameson, who was chairman of the meeting, said that such a change could be introduced into the code in the next hard fork, that is, 8 months after the activation of the Constantinople update. This change requires significant testing, so, probably, it will not be able to get into the hard fork, scheduled for October.
While many developers agreed with the need to confront ASIC-miners, some of them said they were “skeptical” about this proposal, since it is unlikely to help achieve the stated goals.
As for the hard fork of Constantinople itself, there were no significant changes compared to the report of two weeks ago. The developers reported the correction of several bugs and new features of the test network.
Also, the developers agreed to conduct hard forks every 8 months to timely make the necessary updates. The proposal to conduct hard forks every 6 months was rejected, because in this case, developers would have to work in too tight conditions.