Ethereum Miners Start Fighting Back

Ethereum Miners Start Fighting Back


When it comes to POW (Proof of work) there are honestly a few people who hold the majority stake in the system. With this they also hold the power. The power to fight back if a change is coming that they don't like.

What this does in all honesty is screws over Ethereum miners by taking their cut away. Well guess what happens when you take away someones profits... They fight back.

Already news of miners fighting back this new EIP 1559 is cropping up around. Especially on twitter as one of the largest miners asked others to show what they call an "educational purpose" Pretty much they will take their miners off line and move them to another system.

This in turn will show Ethereum heads who's actually in control of the "voting" on the system. If this goes far enough I could honestly see another possible hard fork in Ethereum. We already have Ethereum classic and this seems to be shaping up into another possible split.

If this pushes forward and they end up getting 51% control that means they can easily override the systems and move whatever they want or don't want for an update.

While all of this is suppose to be decartelized that's far from the truth if anything all of these blockchains have become more centralized with only a few or a single figurehead holding a majority control.

EIP-1559 is slated for release in the London network upgrade some time in July.

Do you think they can pull off a 51% attack and if so does that mean maybe the POS wont even get passed which seemed to be getting delayed more and more from Ethereum?

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Ethereum Updates and News
Ethereum Updates and News

Updates and news about the Ethereum network

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