An online meeting of Ethereum developers, miners, and investors to be held today will determine the future of Ethereum. The call for the meeting was made by the communications officer of Ethereum network, Hudson Jameson.
Ethereum Stakeholders Meeting Ahead of Upgrade
Ahead of the system upgrade of Ethereum in October, the communication officer of Ethereum, Hudson Jameson has called for a stakeholders meeting that is to hold by 14:00 UTC on Friday.
The meeting as proposed is to address the challenges the Ethereum ecosystem is experiencing which include the subject of difficulty, Ethereum issuance and ASIC resistance.
The topic for discussion at the meeting is very paramount to the future of the cryptocurrency and its development as it concerns the network of users, developers, and investors. This caused the need for a larger assembly more than the usual meeting of developers.
The topic for discussion in the meeting has already sparked off debate online as developers, investors and miners have contradictory views on the subjects of discussion. The need to give an appropriate clarity and solution to the subjects has led to the massive call, as the platform aims to have a variety of voices to collaborate on the issues.
Regarding this, Jameson Hudson informed Coindesk that,
“There is a strong community sentiment toward delaying the bomb, to reduce the block reward and to introduce changes to the hashing algorithm, however, it’s unclear how we proceed from here.”
He further stated that,
“We have multiple miners, including nearly 50 percent of the Ethereum hashing power (46 percent) either attending the call or making statements that will be read during the call.”
The Proposed Meeting and Stakeholders
The agenda of the meeting “difficulty bomb” concerns the group of investors. The difficulty bomb according to Coindesk is a piece of code locked into the platform that makes its blocks steadily less efficient to mine over time.
On the issue, there are variances of six different proposals which have already sparked off debate on the social media.
The group of miners interest will also be addressed as the GPU, and ASIC-resistant nature of Ether mining will be discussed. Some advocate for the removal of GPU mining chip from the platform because of unproductivity.
And to the group of developers, the ASIC resistant is of importance to them because it relates the decentralized nature of the network.
The outcome of the meeting will determine the future of Ethereum as pertinent issues are set to be discussed and ironed. The rest of the community awaits the conclusion of these topics at the meeting and also major upgrades in coming weeks or months to come.