Ethereum (ETH) 'Difficulty Bomb' To Be Erased: Proposal

News
Sun, 02/16/2020 - 17:09
Vladislav Sopov
Ethereum's (ETH) difficulty bomb is one of the most controversial things about the Ethereum (ETH) network. A new concept of its elimination has been released as an EIP
Cover image via freepik.com
Contents

Ethereum's (ETH) 'difficulty bomb' is a term that refers to the growing difficulty of Ethereum (ETH) network resulting in an increased amount of time required to mine one Ethereum (ETH) block. Periodically, this bomb is delayed by the hard fork, but one Ethereum (ETH) developer has a much better idea.

Freeze instead of a bomb

James Hancock, a contributor to Ethereum (ETH) network development, has published an Ethereum Improvement Proposal (EIP 2125), explaining the construction that eliminates the necessity to delay 'Ethereum Ice Age' timely.

Related
Tuur Demeester Compares Ethereum's "Difficulty Bomb" Mechanism to Communism

According to the pull request attributed to this proposal, a new concept is named Difficulty Freeze. It should be implemented into Ethereum (ETH) mainnet within the protocols difficulty adjustment algorithm. The situation of Difficulty Freeze begins at a pre-determined block height when the network difficulty is frozen.

Image via Twitter

Mr. Hancock is certain that it won't stop the blockchain of Ethereum (ETH) but will incentivize developers to upgrade it regularly. Any further chain split (soft fork, hard fork) will, therefore, be subject to this difficulty freeze.

More predictable Ethereum (ETH)

Mr. Hancock announced some factors that make his proposal valuable for the progress of the Ethereum (ETH) network. In terms of tokenomics, he is sure that:

"Under the Difficulty Freeze, it is more likely that issuance would increase; however, clients are motivated to prevent this and keep clients syncing effectively. This means it is much less likely to occur."

Instead of this, the current effect on the Block Time Targeting mechanism is rather complex to model. As a result, miners and network participants can't be sure about the network status. 

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Bitcoin Advocate Criticizes Ethereum’s Muir Glacier Update, Ethereum’s Team Lead Replies

As reported by U.Today, the latest difficulty adjustment, Muir Glacier hardfork, took place on January 1, 2020, and was severely criticized by some members of the crypto community.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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