Ethereum
Ethereum PoW Proponents Vow to Abolish EIP-1559
Billions are at stake as Ethereum readies for the much-awaited transition. But not all are happy.
Proponents of the Ethereum fork are gearing up to eliminate the pivotal EIP-1559. An Ethereum miner, which gained allies from many prominent figures and firms in the industry, has now published an open letter to the community.
The Twitter account of the proposed chain-split fork – EthereumPoW – said that the once “almighty” Ethereum Foundation has abandoned “decentralization” as part of its missions as the transition towards proof-of-stake (PoS) neared.
Goals
In a long thread, the Ethereum fork supporters said EIP-1559 was an attempt by the Ethereum Foundation to build a bullish narrative at the expense of the miners. They also accused the “elites” of suppressing the voice of miners, who instead are a “political force” that “should wield some political power and influence” to maintain and inclusive political system. They also accused the “TEF and its friends” of coercing miners into cooperating at ease.
Claiming to be a “truly decentralized community of volunteers,” EthereumPoW vouched that the new token will not be pre-mined and there will be no inflation. Maintaining PoW and the Nakamoto Consensus mechanism will remain the focus of the group.
“Abolition of EIP-1559. In a truly open and inclusive system/society, there is no justification for punishing one group of participants in favor of another. We will never idolize leaders, unlike our predecessors. We strive to be an enlightened society.”
It also said that it aspires to eventually become completely autonomous and self-sustained, devoid of any entity governing the blockchain. It plans to achieve this in the next three years.
