What to Expect When Ethereum Classic Diffuses Its 'Difficulty Bomb'
What to Expect When Ethereum Classic Diffuses Its 'Difficulty Bomb'
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Ethereum classic (ETC) is set to fork in the coming days as part of a bid to diffuse a so-called 'bomb' in its code.
Set for block 5,900,000, the change, in which all users of the original ethereum blockchain will need to update their software, is meant to disable a feature that is designed to increase the difficulty of mining the protocol's rewards ahead of a shift to a new consensus algorithm.
Such changes, originally envisioned as part of the roadmap now continued by the ethereum blockchain, would render ETC mining unprofitable if allowed to persist.
Advocates in the ethereum community argue that proof-of-stake systems are more energy efficient than their proof-of-work counterparts. However, Anthony Lusardi, developer and director of ETC Cooperative, a community development and marketing body for the protocol, argues this is yet another point on which the ethereum and ethereum classic communities disagree.
As such, he sought to frame the impending removal of the code as another way the ethereum classic project is attempting to differentiate since the 2017 split.
"Proof-of-work seems to be the most decentralized approach currently to achieving consensus from what the majority of the community feels," Lusardi said in an interview.
He told CoinDesk:
"There's a lot of new algorithms being proposed like proof-of-stake, delegated proof-of-stake and byzantine fault tolerance, and within our community we're not convinced that these newer versions of consensus are any more decentralized and we're somewhat afraid that they may be more centralized than say proof-of-work."
More information: www.coindesk.com