{"id":37121,"date":"2021-02-27T10:47:07","date_gmt":"2021-02-27T08:47:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37121"},"modified":"2025-08-29T09:55:06","modified_gmt":"2025-08-29T06:55:06","slug":"ethereum-miners-split-into-two-camps-over-eip-1559","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ethereum-miners-split-into-two-camps-over-eip-1559\/","title":{"rendered":"Ethereum miners split into two camps over EIP-1559"},"content":{"rendered":"<p>Ethereum miners have split into two opposing camps over the EIP-1559 proposal. It envisages burning a portion of transaction fees and aims to reduce the volatility of gas prices.<!--more--><\/p>\n<p>The third-largest Ethereum pool, F2Pool, published a <a href=\"https:\/\/f2pool.io\/mining\/insights\/20210225-staying-on-the-bright-side-of-history-eip-1559\/\" target=\"_blank\" rel=\"noopener\">\u043f\u043e\u0441\u0442<\/a> in support of the Ethereum Improvement Proposal.<\/p>\n<blockquote>\n<p>\u201cToday the broader community, along with developers, remains committed to developing Ethereum by including EIP-1559. It is important to stand firm in this stance together with users and key participants in the ecosystem,\u201d wrote representatives of the pool, which accounts for about 11% of the hashrate.<\/p>\n<\/blockquote>\n<p>A day earlier, the largest Ethereum pool SparkPool spoke out against the proposal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Sparkpool opposes EIP-1559. <a href=\"https:\/\/t.co\/6pw7QNN2Ug\">https:\/\/t.co\/6pw7QNN2Ug<\/a><\/p>\n<p>\u2014 SparkPool.eth (@sparkpool_eth) <a href=\"https:\/\/twitter.com\/sparkpool_eth\/status\/1364790269820825604?ref_src=twsrc%5Etfw\">February 25, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201cThis is tyranny by the majority in the name of a better user experience (in reality, not). This is theft. Why do we love Ether and Bitcoin? Because they grant us indisputable ownership rights,\u201d wrote earlier SparkPool representatives, which controls 24% of the hashrate.<\/p>\n<\/blockquote>\n<p>Against <a href=\"https:\/\/finematics.com\/ethereum-eip-1559-explained\/#:~:text=EIP%201559%20describes%20changes%20to,by%20Vitalik%20Buterin%20in%202019.&#038;text=The%20current%20fee%20model%20is,their%20space%20in%20a%20block.\" target=\"_blank\" rel=\"noopener\">EIP-1559<\/a> earlier spoke Bitfly, operator of the second-largest Ethermine pool, calling the proposal \u201ca threat to Ethereum\u2019s future\u201d.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We have been observing the situation within the community and would like to state that Ethermine is against adopting Eip-1559 in its current state because we believe that Ethereum\u2019s future may be at risk.<\/p>\n<p>\u2014 Bitfly (@etherchain_org) <a href=\"https:\/\/twitter.com\/etherchain_org\/status\/1351610475281309697?ref_src=twsrc%5Etfw\">January 19, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As of now, opponents of EIP-1559 account for more than 50% of Ethereum\u2019s total hashrate.<\/p>\n<p>According to the representatives of F2Pool, the likelihood of activation of the proposal is reflected in the price of the second-largest cryptocurrency.<\/p>\n<blockquote>\n<p>\u201cIf the proposal is not implemented, this is likely to negatively affect ETH\u2019s price in the short term,\u201d the pool representatives shared. \u201cNegative price dynamics could trigger a sequence of events leading to further <simple_tooltip content=\\\"Deleveraging \u2014 the reduction and\/or closing of positions formed with borrowed capital, often forced.\\\">deleverage<\/simple_tooltip> on centralized and decentralized markets. In the end this will also affect miners, whose revenues depend on the price of ETH.\u201d<\/p>\n<\/blockquote>\n<p>EIP-1559, proposed by Vitalik Buterin in 2018, is one of the most anticipated upgrades in Ethereum\u2019s history. It is designed to make the network safer and gas prices more predictable.<\/p>\n<p>The proposal also implies burning a portion of transaction fees, the share of which in miners\u2019 revenue recently again exceeded 50%.<\/p>\n<div id=\\\"attachment_126196\\\" style=\\\"width: 1810px\\\" class=\\\"wp-caption alignnone\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-126196\\\" class=\\\"size-full wp-image-126196\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-percent-miner-revenue-from-fees.png\\\" alt=\\\"Ethereum miners split into two camps over EIP-1559\\\" width=\\\"1800\\\" height=\\\"1013\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-percent-miner-revenue-from-fees.png 1800w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-percent-miner-revenue-from-fees-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-percent-miner-revenue-from-fees-1024x576.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-percent-miner-revenue-from-fees-768x432.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/glassnode-studio_ethereum-percent-miner-revenue-from-fees-1536x864.png 1536w\\\" sizes=\\\"auto, (max-width: 1800px) 100vw, 1800px\\\" \/><\/p>\n<p id=\\\"caption-attachment-126196\\\" class=\\\"wp-caption-text\\\">Share of transaction fees in Ethereum miners&#8217; revenue. Data: <a href=\\\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=&#038;m=mining.RevenueFromFees&#038;s=1577295663&#038;u=1614384000&#038;zoom=\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\">Glassnode<\/a>.<\/p>\n<\/div>\n<p>According to the roadmap, the upgrade is expected to occur within three to six months after <a href=\"https:\/\/u1f987.com\/en\/news\/developers-unveil-berlin-hard-fork-specifications-for-the-ethereum-network\">Berlin hard fork<\/a>.<\/p>\n<p>Many in the community are pinning their hopes on layer-2 solutions based on <simple_tooltip content=\\\"The technology bundles several transactions into one, reducing the load on the main Ethereum network.\\\">Rollups<\/simple_tooltip>, designed to significantly relieve Ethereum and reduce the urgency of the network\u2019s scalability problem.<\/p>\n<p>In January, the synthetic asset platform <a href=\"https:\/\/u1f987.com\/en\/news\/defi-project-synthetix-launches-ethereum-layer-2-solution-optimistic-ethereum\">Synthetix carried out a pre-launch of the Optimistic Ethereum solution<\/a>.<\/p>\n<p>In February, the Optimism project behind the development of Optimistic Ethereum <a href=\"https:\/\/u1f987.com\/en\/news\/andreessen-horowitz-leads-25-million-series-a-for-ethereum-layer-2-solution-optimism\">closed a funding round of $25 million<\/a>, led by Andreessen Horowitz.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forkloglive\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog FEED<\/a> \u2014 all the news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum miners have split into two opposing camps over the EIP-1559 proposal. It envisages burning a portion of transaction fees and aims to reduce gas-price volatility.<\/p>\n","protected":false},"author":1,"featured_media":37122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,46],"class_list":["post-37121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=37121"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37121\/revisions"}],"predecessor-version":[{"id":37123,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37121\/revisions\/37123"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/37122"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=37121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=37121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=37121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}