The long-awaited Ethereum (ETH) improvement proposal (EIP) 1559 has run into its adversaries as a number of Ethereum miners banded together to prevent its implementation. It’s not yet clear, however, where the two of the largest pools stand on this issue. (Updated at 14:21 UTC with a comment from Chun Wang, co-founder and administrator of F2Pool).
Nine mostly smaller mining pools have joined the “STOPEIP1559” movement. There is a giant among them though, as they are joined by one of the three largest pools, Ethermine, by itself accounting for nearly 21% of the network’s hash power. Together, the nine’s power amounts to 28.1% in the past week.
Bitfly, the operator of Ethermine, tweeted that “Ethermine is against adopting EIP-1559 in its current state because we believe that Ethereum’s future may be at risk.”
On the other side, the website lists eleven pools, including the other two of the largest pools, Spark Pool and F2Pool – the latter two together accounting for some 36% of the network’s hash power over the past week, per Etherscan.
However, the ‘againsts’ are seemingly louder than the ‘fors.’ Save for a somewhat ambiguous tweet by Chun Wang, co-founder and administrator of F2Pool, there doesn’t seem to be any official announcements from either F2Pool or Spark Pool.
Wang confirmed to Our that, as he mentioned in his tweet earlier, “We support EIP 1559.” He added that he’ll “speak at ETHDenver on this topic next month and will share with the community more details over the next few weeks.”
What’s more, there are some contradictory comments online, reportedly coming from Spark Pool, one of them suggesting that this major pool is actually against the proposal. Their Twitter comments may imply so as well. If that’s the case, Ethermine and Spark Pool would together account for some 45% of hash power.
I hope all miners shift their rigs from ethereum when EIP-1559 gets implemented
Let’s see how well your network works then
— ⛏GPU Hoarder Chris Walken (@cryptochrisw) January 22, 2021
Meanwhile, Ethereum developer Micah Zoltu stated that “any censorship attack by miners against the interest of users will almost certainly result in the core developers taking very aggressive action against miners,” most likely resulting in the developers rushing to launch the proof-of-stake consensus mechanism, “which would completely remove all miners/mining from Ethereum.” He argued that, if the miner of the block received the base fee, there would effectively be no change with EIP-1559.
Developer Alex Stokes argued that not only should EIP-1559 not harm the viability of mining as a profession, but that “the upgrade strengthens ETH the asset which is a clear boon for miners.” ConsenSys Senior Product Manager Tim Beiko also went on to provide detailed explanations of user experience, economic and security benefits that he says come with the implementation of this EIP.