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22 April 2021

Key Ethereum Researchers Vote to Ship Proof-of-Stake in 2021 | Crypto Briefing

Key Ethereum Researchers Vote to Ship Proof-of-Stake in 2021 | Crypto Briefing


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Justin Drake, one of the researchers working on Ethereum 2.0, shared a poll earlier today, showing that 86% of those he surveyed are in favor of fast-tracking the update to launch in 2021.

Drake also pointed out that some miners have made threats of violence, which have “catalyzed efforts” towards shipping Proof-of-Stake.

Some Ethereum miners have been in dispute with the rest of the community over the last few months, most recently staging a questionable protest against EIP-1559

Proof-of-stake will make Ethereum more scalable and significantly reduce its environmental impact, something that the blockchain will likely need before it receives widespread mainstream approval. 

Proof-of-stake will also see validators earn fees for securing the chain rather than miners, effectively making miners obsolete

Because EIP-1559 will affect miners’ revenue, some have taken issue with the update, which is why there have been protests and threats against the Ethereum Foundation. 

The proposal inspired Drake to coin the term “ultrasound money” to refer to ETH, and it’s been embraced by other Ethereum believers in recent weeks. Drake explained that EIP-1559, along with proof-of-stake, will bring major improvements to Ethereum. 

After that, based on the latest plans, EIP-1559 and the proof-of-stake merge will follow

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