Ethereum Mainers will hold an action against EIP-1559

On April 1, miners on the Ethereum network will combine https://gagarin.news/ the hashReite in the Ethermine pool opposing the implementation of the EIP-1559 proposal. Promotion will last 51 hours.

Ethereum Miners on April 1st, What’s this Move ABOUT?https: // t.CO/Io1usgi51q

– Red Panda Mining (@Redpandamining) March 8, 2021

EIP-1559 is aimed at replacing the existing fee market based on bidding, a fixed price and burning mechanism. The proposal will become a component of the London Hardford planned for July .

In February, the income of Ethereum Mainers from validation of transactions jumped 122.1% relative to January. The share of the received commissions amounted to 52.9% of the total income, which reached a record $ 1.36 billion.

EIP-1559 divided mining pools into two camps . Ethermine and SparkPool opposed, which, together with a number of other participants, provide 60% of the network hashrate.

“For educational purposes” opponents of the proposal plan to send computing power to Ethermine. If they manage to collect more than 51% of the hash, then hypothetically miners will be able to make unilateral changes to the protocol.

“This is a demonstration of the strength and ability of miners to coordinate actions, and not a willingness to attack the network, there is no such task. This is a demonstration of the situation when a potential attacker raises the question of the price. He can rent large volumes of the hashReit and create a risk of re -expenditure or reorganization of blocks “, – explained the creator of the blog about mining Bits Beippin Michael Carter.

Supporters of the EIP-1559 believe that its implementation can reduce the general market proposal of Ethereum and, as a result, lead to an increase in the price of a coin.

“If the demand is high enough, in fact, more Ethereum will be destroyed than to be created. I sometimes joking: if bitcoin with its limited emission – Stable currency, whether this will apply to us, provided that a decreasing sentence?”” , – asked the co -founder of the second in capitalization of cryptocurrency Vitalik Buterin.

Recall that Berlin update on Ethereum is scheduled for 12,244,000, which will be obtained approximately April 14. The final version contains a change in the gas calculation algorithm (EIP-2565 and EIP-2929), as well as new types of transactions (EIP-2930 and EIP-2718).