Ethereum Miners Kick Against New Proposal With 75% Drop In Block Rewards

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The proposal seeks to cut Ethereum block rewards by a whopping 75%, reducing every 1 ETH block reward to a much smaller 0.25 ETH. The EIP proposal came in on the 11th of August by a few Ethereum stakeholders. Notable names include Consensys managing director John Lilic, and Ledger global head of client success Jerome de Tychey.

The general idea of the new proposal is to tackle Ethereum’s inflation rate. The proposers believe that it could crash Ethereum’s inflation rate significantly, to almost rival that of Bitcoin. However, Ethereum miners believe that the EIP is a bad idea, and would focus more on investor interests, than the general security of the entire Ethereum network.

Image Credits: Pixabay

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