A new Ethereum Improvement Proposal could offer a path to compromise between Ethereum’s miners and developers, but few in the community appear to support the EIP.
A new Ethereum Improvement Proposal, or EIP, has emerged amid opposition from miners to scheduled changes to the network’s fee market. While some are looking to the proposal as a means to cool flaring tensions between Ethereum’s miners and developers, the EIP appears to have secured little support from the community.In recent weeks, tensions have escalated over EIP-1559 — an upgrade slated for integration in July that is expected to discipline Ethereum’s volatile fee market while significantly impacting miner revenues.The new proposal, EIP-3368, advocates that block rewards immediately be increased to 3 Ether and then reduced to 1 Ether over the two years following 1559’s implementation to ease the impact of Ethereum’s transition to Proof-of-Stake on miners. On March 13, Ethereum developer Tim Beiko took to Twitter to share EIP-3368, encouraging robust debate over the proposal within the Ethereum community. While Beiko emphasized 3368 “is not accepted” or “scheduled for a fork” yet, the developer described the proposal as “the most tangible thing to come out of miner conversations [regarding 1559] in the past few weeks.”Coming out of my twitter break to share this: miners’ “counter proposal” to 1559 is EIP-3368, which would raise the block reward to 3 ETH and lower it to 1 ETH over ~2 years. @BitsBeTrippin should present it at the next AllCoreDevs. @EthMagicians thread: https://t.co/CLxc30AUPf— Tim Beiko | …
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