Ethereum developers can reduce emissions tenfold in 2021
Ethereum emission can be reduced by 10 times in 2021. This prediction was made by Ethereum Foundation researcher Justin Drake.
“January 2020: launch of the beacon chain. June 2020: Launching the eth2 lightweight client into production. November 2020: Fork eth1 # 1 to ensure eth2 is complete. March 2021: eth1 # 2 fork to cut emissions 10 times, ”he said, noting that the timing is likely to change in the process.
Previously, it was assumed that the reduction of the reward from 2 ETH to 0.22 ETH will take place after the complete rejection of the Proof-of-Work mechanism. The likelihood that this will happen in 2021 is low, since a transition period will be required, during which smart contracts and other network tools will be transferred to the sharding-enabled Beacon chain, Trustnodes said. Full sharding is expected to be launched by 2021, after which it may take several years for the ecosystem to develop to the point where PoW can be completely phased out..
It was also expected that after the launch of the hybrid system, the reward 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 emissions may even increase before being reduced with the transition 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 decline in rewards in the PoW chain and how they plan to abandon it as early as 2021..
Next year, the developers will launch a separate chain where users will be able to transfer their ETH for staking, 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, is entering the experimental stage, where many questions of interest to users have not yet been answered..
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