Ethereum developers: If miners unite against EIP-1559, the network will accelerate its shift to the PoS consensus mechanism

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

Babbitt Information (ID: bitcoin8btc)

, Author: SAMUEL HAIG, Compiler: Overnight's Porridge, published with permission.

Ethereum’s developers appear to be accelerating the network’s transition to proof-of-stake (PoS) consensus and are starting to move away from the proof-of-work (PoW) mining community.

On March 11, developer “Mikhail Kalinin” published the specifications for the Ethereum 2.0 blockchain to merge with the existing Ethereum network.

The release of the specification comes amid escalating tensions between ethereum miners and developers. It is reported that when the Ethereum network transitions to the proof-of-stake (PoS) consensus mechanism, miners will lose a lot of income, and the developers of Ethereum are keen to improve the high fees and congestion of Ethereum.

Last week, Cointelegraph reported that ethereum core developers plan to implement ethereum improvement proposal EIP-1559 in July, which will replace the existing ethereum fee policy.

In theory, the proposal could end skyrocketing fees on ethereum, but it would also cause miners to lose some of their income, so some miners have responded to the news by saying they will redistribute hash power on April 1 To Ethermine, a mining pool that supports EIP-1559, and lasted for 51 hours.

However, ethereum core developers seem to be ready to deal with miners' protests. Last month, Vitalik Buterin, the co-founder of Ethereum, mentioned that if miners threatened to carry out a 51% attack, Ethereum would switch to the PoS consensus mechanism as soon as possible.