Re:Vitalik escalates ETH 2.0 merge as miners plan a 51% attack
by chrisco255 on Saturday March 13, 2021 @01:10AM
(#26444409)
No it's very much decentralized as the miners are threatening a fork. This is not unlike what Bitcoin went through in 2017 when it split between BTC and BCH. If it were centralized a fork wouldn't be possible.
The miners are mercenaries. They have no loyalty to the network and the network has no loyalty to them (hence the push for proof of stake).
For what it's worth, EIP-1559 wasn't Vitalik's idea, but the change is almost universally supported by the Ethereum application developers and users.
At any rate the sooner we get off proof of work the better. Users are spending $20M a day on transaction fees. Let's put that money back into the ETH community by switching to proof of stake and burning the transaction fees.
The miners are mercenaries. They have no loyalty to the network and the network has no loyalty to them (hence the push for proof of stake).
For what it's worth, EIP-1559 wasn't Vitalik's idea, but the change is almost universally supported by the Ethereum application developers and users.
At any rate the sooner we get off proof of work the better. Users are spending $20M a day on transaction fees. Let's put that money back into the ETH community by switching to proof of stake and burning the transaction fees.