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General Consensus Reached: Eth Block Reward Reduction

A live-streamed meeting had taken place today which Ethereum developers have came to a general consensus to reduce block rewards from 3eth to 2eth.

Several developers took part in this meeting discussing issuance reduction which has been a recent debate within the community as of last Friday when representatives of miners and eth holders were invited to take part.

Many of the developers have stated today that there was a general consensus to reduce issuance to 2eth per block.

A few concerns were raised regarding the Ethereum Improvement Proposal (EIP) 1295 once it changes the proportional rewards between uncles and blocks, clearly, most were in agreement on just 1234

EIP1234 will most likely reduce uncle and nephew rates in line with 2eth per block, but will not change the proportional reward between uncles and proper blocks.

Casey Detrio, an eth dev, said he’d be happy with a reduction to 2eth if it comes with ProgPoW, a Proof of Work (PoW) which could possibly make Asics less effective.

Pawel Bylica, an eth dev, disagreed with the ProgPoW coupling with the issuance reduction and believes that ProgPoW isn’t possible to implement this year, so it can’t be considered to include in Constantinople.

Hudson Jameson said a lot more data is needed on ProgPoW, with Bylica adding that ProgPoW is quite a long way from being anywhere near ready for implementation.

Another member stated that more data is required on ProgPoW and that its a long way from being close to implementation.

it is important to remember that this is not a final decision and is only a general consensus, no decisions have been made as of yet.

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