Ethereum Stakeholders Meeting Ends Inconclusive: to Reduce ETH Issuance or Not is the Hot Topic
Ethereum core stakeholders meeting held online on the 24th of August involved a decision on ETH Issuance Reduction, a Constantinople Fork, among others. Though decisions were inconclusive, it was remarkable.
The Ethereum Stakeholders Meeting
The 45th Ethereum developers meeting streamlined online on the 24th August 2018 was an extensive meeting as Jameson Hudson, communications officer of Ethereum network invited miners, investors, and developers to the meeting that was regarded important to the future of Ethereum.
One of the highlights of the meeting that was considered essential was the Issuance of Ether on the network. Debate whether it should be reduced below the present number per block or not was discussed in the meeting.
The last time the issuance metric was modified was during the previous Byzantine updated from 5 their per block to 3 per block level.
Proposal to keep it at the present level was made and also was a proposal for the reduction. Reaching a conclusive end on the issue was impossible as a consensus was out of reach. However, the participants promised to revisit the issue some other time.
Though the social media trend favors the reduction in the issuance of Ether per block, many doubters feel that the modification must also include the mining difficulty, if not the Ether reduction would eradicate the profitability of mining on the Ethereum network.
Nevertheless, the public voting on the carbon.com revealed the interest of the community in the reduction of the Ether Issuance to be less than 3 and equal to or less than two Ether per block. This reason was equally argued by Matthew Light, a developer at the meeting.
The subject of the contentious hard fork, which is Constantinople was discussed. Chirs Burniske opined that Constantinople hard fork would not hurt the Ethereum network.
Subsequent Ether Stakeholders Meeting
The live online Ethereum meeting was very significant as Jameson Hudson raises awareness for the network of developers, investors, and miners to be present.
As the Ether Issuance issue remain unresolved among others, subsequent meetings are expected to involve more participants as a crucial decision is supposed to be made on the future of the Ethereum network.
The meeting showcased the high level of democracy in the Ethereum system as it pertains to the future of the network.