EIP-1559 will cause Ethereum to fork? This may not be the case.
EIP-1559, which has been fermenting for three years, has always been one of the most watched Ethereum proposals, and has once again been the subject of a stormy topic recently.
There has always been great controversy over the EIP-1559. The community developers have declared their support for EIP-1559, but the miners have broken the rules. On February 26, the three large-scale Ethereum mining pools announced their announcement, clarifying their position on EIP-1559: Fish Pond Support, Spark Mining Pool, and Bee Mining Pond were against.
Miners object, it makes sense
At the start of the proposal, the miners objected to EIP-1559. This is mainly because EIP-1559 proposes dividing transaction fees paid by users into two parts: base fee (BASEFEE) and miner's tip (TIP). The fees will not be returned, Anyone's property will be destroyed, which touches the immediate interests of the miners, which creates the current dilemma: the community is very much supported, and no miner is optimistic about it.
BitFly, the parent company of the Ethermine mining pool, claims that EIP-1559 could jeopardize Ethereum's future, and is also against the adoption of EIP-1559 in its current state. The Flexpool mining pool has also firmly opposed the EIP-1559 proposal, and set up the stopeip1559 website to monitor mining pools which officially oppose the EIP-1559 proposal. According to the website, there are already 12 Ethereum mining pools that share the same opposition position as Flexpool The Yuchi Family issued an announcement declaring their support, and other supporters supporting it by default.
stopeip1559 site monitoring
Why do unannounced mining pools support EIP-1559 by default? This is because the mining pool means peacefully accepting node updates sponsored by the Ethereum developers without taking any action, and those updates include the EIP-1559 hard fork and the higher version 2.0 update.
Xinghuo Mining Pool also reiterated its opposition on Twitter today. Qiu Xiaodong, Spark Mine Pool's main account manager, also stated on the social platform that the opposition is not an emotional slogan, but justified analysis and concern. Compared to Filecoin, which has implemented EIP-1559, it does not improve user experience and The currency price also does not increase sharply. Going against EIP-1559 doesn't mean splitting Ethereum. There are many doubts about the world's decentralized computer network. The miners 'contribution should be remembered, and the miners' opinions need to be heard.
The rationale given by bee mining pools suggests that mining pools uphold the rights and interests of miners first of all, and the attitude of mining pools represents the opposition of most miners.
The Bee Pool also shows that the EIP-1559 can reduce ETH inflation, but that reducing transaction bottlenecks and high handling costs can be overcome by dynamically expanding GasLimit. Only a small amount of adjustment is needed to hold back a jam in the crib instead There is only EIP -1559 as options, and EIP-1559 is incompatible with economic laws and is unfair. It is a plan to use power to eliminate vulnerable groups. Moreover, the community's high-level theory that "collapse will increase currency prices" is not entirely correct. There are several possible incentives for rising and falling prices, and they will not increase due to the small number of EIP-1559. Burns.
On the right side of history: the user is king
Prior to Yuchi, no large Ethereum mining pool had publicly declared support for EIP-1559. Based on the effect of the weakening EIP-1559 on the interests of miners, the mining group has always been the strongest opponent of EIP-1559. As a mining pool giant, Fish Pond currently occupies 10% of Ethereum's total computing power. This is the first to publicly support EIP-1559, which will undoubtedly have an important impact on the direction of the EIP-1559 proposal and the ecology of Ethereum development, and disputes may arise as well. This has become even more intense, as can be seen from the heat of industry public opinion after Yuchi's publication today.
At noon today, Yuchi published an article "Standing on the Right Side of History: EIP-1559", officially supporting the EIP-1559 proposal. The article emphasized, why did Yuchi choose to support him? It is based on community and developer attitudes. Both the Ethereum community and the core developers have chosen to support EIP-1559, so as an Ethereum mining pool, Yuchi hopes to choose to stand on the side of core users and contributors. At the same time, based on the positive response from community members and investors to the EIP-1559, this kind of expectation will play a role in promoting Ethereum's price. It also states that if the EIP-1559 fails to implement, there may be a short-term price confirmation for Ethereum Shock.
It's true that the EIP-1559 proposal in the community has received overwhelming votes of support, and recently Ethereum developer Tim Beiko said that given that a "trouble bomb" could occur in July, he hopes it will launch in the "London" fork when it's EIP-1559. If the EIP-1559 is launched in the "London" branch in July, it may be necessary to select the initial EIP in March and begin interim network testing; select final EIP in April and do reference testing and end network testing temporarily; select blocks in May Completing the "London" test; launched on testnet in June; launched on mainnet in July.
Why did Yuchi choose community users over other large mining pools? In fact, this does not leave miners. Ethereum can take second place. It is based on users, not miners. All sources of Ethereum revenue are users. ETH is valuable if the user has a request. Today, Ethereum's core contributors and the community all support the opinion. In the age of the king of users, no matter how many miners were owned and users lost, revenue would still be greatly reduced, and miners were against EIP- The reason for 1559 is that self-interest has been weakened , but continued opposition can cause even greater damage to interests.
Is there a crisis at the Ethereum fork? It doesn't seem like it
As for the conspiracy theory of the Ethereum fork, as Qiu Xiaodong said, the decentralized world is to speak freely, freely and fairly, for and against, important users, miners also have the right to speak, and the ultimate goal of all parties. is Promote the development of a better Ethereum network. Yuchi insiders also said that the EIP-1559 was negligible and had no substantial impact, and public opinion was probably too fermented to generate the current heat.
If there is a fork and miners stick to the old chain and the user chooses the new EIP-1559 chain, how far can the old chain that lost the user go? Comparing Ethereum and Ethereum Classic's current level of development, one or two might be expected. Regarding the miners' various objections, the EIP-1559 plan has not been formally implemented. What specific plans will finally come online and any concessions can occur, rather than the extreme situation of an Ethereum fork.
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