Ethereum cryptocurrency emission can be reduced 10 times in 2021. This forecast was made by Justin Drake, Ethereum Foundation researcher.
“January 2020: launch of beacon chain. June 2020: The production of the lightweight client eth2. November 2020: fork eth1 # 1 to ensure eth2 completion. March 2021: fork eth1 # 2 to reduce emissions 10 times, ” he said, noting that the timing is likely to change in the process.
Previously it was assumed that the reduction in the mining award from 2 ETH to 0.22 ETH will take place after a complete rejection of the Proof-of-Work mechanism. The likelihood that this will happen in 2021 is small, since a transitional period is required, during which smart contracts and other network tools will be transferred to the Beacon-chain with sharding support, Trustnodes believes.
It is expected that the full sharding will be launched by 2021, after which it may take several years to develop the ecosystem to the point where you can completely abandon the PoW.
It was also expected that after the launch of the hybrid system, the award for PoW miners will be reduced to 0.6 ETH. However, Drake now states that in a conservative scenario this may not happen, and then the emission may even increase before it is reduced from switching to PoS .
Representatives of the Ethereum Foundation are reluctant to answer questions, probably because they themselves have not yet made a final decision. In particular, they do not explain what could prevent the reduction of awards in the PoW-chain and how they plan to abandon it already in 2021.
Next year, the developers will launch a separate chain, where users will be able to transfer their ETH for stacking, but the possibility of their reverse transfer to the PoW chain is not provided, according to information available to date about their plans. As noted by Trustnodes, Ethereum, in fact, enters the experimental stage, where many questions of interest to users do not yet find the answers.
Posted 06/07/2019
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