{"id":38986,"date":"2021-03-16T11:10:07","date_gmt":"2021-03-16T09:10:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38986"},"modified":"2025-08-30T07:23:18","modified_gmt":"2025-08-30T04:23:18","slug":"ethereum-developers-present-a-miner-friendly-compromise-for-eip-3668","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ethereum-developers-present-a-miner-friendly-compromise-for-eip-3668\/","title":{"rendered":"Ethereum developers present a miner-friendly compromise for EIP-3668"},"content":{"rendered":"<p><span style=\\\"font-weight: 400;\\\">Ethereum developers presented EIP-3368. The proposal would raise miners&#8217; block reward to 3 ETH and lower it to 1 ETH after the<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-eip-1559-included-in-july-london-hard-fork-despite-miners-opposition\"><span style=\\\"font-weight: 400;\\\">London hard fork<\/span><\/a> <span style=\\\"font-weight: 400;\\\">by burning a portion of transaction fees<\/span><span style=\\\"font-weight: 400;\\\">.<\/span><\/p>\n<p><!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Coming out of my twitter break to share this: miners\u2019 \u00abcounter proposal\u00bb to 1559 is EIP-3368, which would raise the block reward to 3 ETH and lower it to 1 ETH over ~2 years. <a href=\\\"https:\/\/twitter.com\/BitsBeTrippin?ref_src=twsrc%5Etfw\\\">@BitsBeTrippin<\/a> should present it at the next AllCoreDevs. <a href=\\\"https:\/\/twitter.com\/EthMagicians?ref_src=twsrc%5Etfw\\\">@EthMagicians<\/a> thread: <a href=\\\"https:\/\/t.co\/CLxc30AUPf\\\">https:\/\/t.co\/CLxc30AUPf<\/a><\/p>\n<p>\u2014 Tim Beiko | timbeiko.eth (@TimBeiko) <a href=\\\"https:\/\/twitter.com\/TimBeiko\/status\/1370515621012664322?ref_src=twsrc%5Etfw\\\">March 12, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p><span style=\\\"font-weight: 400;\\\">The developer Tim Beiko stressed that the initiative has not yet been adopted or integrated into any forthcoming hard forks.<\/span><\/p>\n<p><span style=\\\"font-weight: 400;\\\">The initiative could ease tensions between the community and opponents of <\/span><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.\\\"><span style=\\\"font-weight: 400;\\\">EIP-1559<\/span><\/a><span style=\\\"font-weight: 400;\\\">. Earlier they announced on April 1<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-miners-to-stage-protest-against-eip-1559\"><span style=\\\"font-weight: 400;\\\">a campaign against abandoning the existing auction-based fee market<\/span><\/a><span style=\\\"font-weight: 400;\\\">, based on auctions. In February<\/span><span style=\\\"font-weight: 400;\\\"> the share of collected fees <\/span><a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-and-ethereum-miners-earned-1-36-billion-in-february\"><span style=\\\"font-weight: 400;\\\">was 52.9% <\/span><\/a><span style=\\\"font-weight: 400;\\\">of miners&#8217; total revenue, which reached a record $1.36 bn.<\/span><\/p>\n<p><span style=\\\"font-weight: 400;\\\">The implementation of EIP-3368 will ease the blockchain&#8217;s transition to the new consensus algorithm <\/span><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\"><span style=\\\"font-weight: 400;\\\">Proof-of-Stake<\/span><\/a><span style=\\\"font-weight: 400;\\\">.<\/span><\/p>\n<p><span style=\\\"font-weight: 400;\\\">One of the active participants in the April 1 \u201cshow of force,\u201d Red Panda Mining, pledged to drop the show of force and back the new proposal.<\/span><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">We have been heard. EIP-3368 has been proposed. Reward to 3 ETH but drops 0.25 every quarter till 1 ETH over 2 years. I am going to rescind from the show of force to <a href=\\\"https:\/\/twitter.com\/etherchain_org?ref_src=twsrc%5Etfw\\\">@etherchain_org<\/a> April 1st and so should all of you (unless you were already on ethermine)<\/p>\n<p>\u2014 Red Panda Mining (@RedPandaMining) <a href=\\\"https:\/\/twitter.com\/RedPandaMining\/status\/1370766854583504898?ref_src=twsrc%5Etfw\\\">March 13, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p><span style=\\\"font-weight: 400;\\\">Within the Ethereum community, EIP-3368 has not been embraced unambiguously.<\/span><\/p>\n<blockquote>\n<p><i><span style=\\\"font-weight: 400;\\\">\u00abThis can be viewed as a subsidy from users to miners to delay upcoming changes. By the way, why? Why do they have such privileges? Why not start with 2 ETH? There is no such thing as risk-free business. Their \u201cuseless\u201d equipment market will readily absorb the market. Even if that were not the case, miners&#8217; personal, business decisions should not be users&#8217; concern. You do not share profits with society, and thus you do not distribute losses\u00bb<\/span><\/i><span style=\\\"font-weight: 400;\\\"> , <\/span><span style=\\\"font-weight: 400;\\\">\u2014<\/span><span style=\\\"font-weight: 400;\\\">wrote one of them.<\/span><\/p>\n<\/blockquote>\n<p><span style=\\\"font-weight: 400;\\\">Another saw in EIP-3368 an incentive for miners to buy new equipment. In his view, this should be avoided in light of the upcoming ETH1\u2013ETH2 merge and the abandonment of<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\"><span style=\\\"font-weight: 400;\\\">Proof-of-Work<\/span><\/a><span style=\\\"font-weight: 400;\\\">.<\/span><\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"3OlC8YTJkM\\\">\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-ethereum-2-0\">What is Ethereum 2.0?<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u00abWhat is Ethereum 2.0?\u00bb \u2014 ForkLog\\\" src=\\\"https:\/\/u1f987.com\/cryptorium\/chto-takoe-ethereum-2-0\/embed#?secret=7RJhWofZzS#?secret=3OlC8YTJkM\\\" data-secret=\\\"3OlC8YTJkM\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p><span style=\\\"font-weight: 400;\\\">As a reminder, around April 14 the Ethereum network is expected to undergo the<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/developer-pins-berlin-hard-fork-date-on-ethereum-network\"><span style=\\\"font-weight: 400;\\\">Berlin hard fork<\/span><\/a><span style=\\\"font-weight: 400;\\\">.<\/span><\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum developers unveiled EIP-3368. The proposal would raise miners&#8217; block reward to 3 ETH and lower it to 1 ETH after the London hard fork by burning a portion of transaction fees.<\/p>\n","protected":false},"author":1,"featured_media":38987,"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-38986","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":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38986","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=38986"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38986\/revisions"}],"predecessor-version":[{"id":38988,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38986\/revisions\/38988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/38987"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=38986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=38986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=38986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}