55% of Miners Accept EIP-1559 Says Miner – Trustnodes

55% of Miners Accept EIP-1559 Says Miner


EIP-1559 miner call, Feb 2021

Miners generally seem to be accepting EIP-1559 a community call has revealed today where devs and miners discussed the matter.

Wang Chun of F2Pool re-iterated his support and in addition he said supporting ETC in 2016 was a mistake. They now full on ethereum backers.

Just one miner was against with no good argument for why except that hash might fall, to which another participant said miner’s reward in fiat has previously fallen by 90% and it didn’t affect security.

Another miner, Chris (?) from Flexpool, said they held a poll which revealed 55.33% of miners accept EIP 1559 if another EIP, 969, is added. Chris further said:

“Initially, our miners were quite upset about 1559… as we talked to other miners and we talked to devs, we’ve come to say that we don’t mind 1559 as it does bring several improvements to the ethereum network and honestly we do think it will improve things.”

The CTO of Innosilicon, an asics manufacturer, said that “miners will continue to support ethereum whatever the decision.”

Interestingly miners brought back a new version of ProgPow (now EIP 969) to the discussion, with Chris being in favor while Innosilicon is against the mining algorithmic change to brick asics.

That internal miners politics however seems to be just a distraction because it has nothing whatever to do with EIP-1559.

EIP-1559 instead sets an algorithmic base fee for inclusion that targets 50% capacity, making fees predictable and thus improving user experience.

Based upon this public conversation, it appears this proposal is a lot less controversial than previously thought.

As such, and considering it has full consensus among devs and ethereans, it appears highly likely this EIP will go through.

Comments (3)

  1. Rubbish. Quick handed post to get support. The features of EIP 1559 are brilliant. Burning the base fee is a selfish act that will start the beginning of the end for Ethereum.

    ETHEREUM is no store of value. It is the world’s vm. Stop making this network only usable for rich Eth holders.

    1. Could you elaborate more as it seems exact opposite….

  2. If miners recieve rewards in ETH it is sufficient if its price simply goes up irrespective of the lesser block reward.
    It is stupid to just cut the branch one is sitting on by disagreeing the proposal.
    Why shouldn’t ETH perform both functions including being a store of value too

Leave a Reply to Stu Cancel Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>