Block Rewards Down to 2 ETH Explained

Block Rewards Down to 2 ETH Explained

Last Friday saw an Ethereum Core developers’ meeting dedicated to Constantinople, a planned hard fork of Ethereum. The developers decided to cut block rewards to 2 ETH and postpone the difficulty bomb for 12 months

The meeting covered a range of topics including ASIC resistance, the ProgPow consensus algorithm, and the difficulty bomb (also known as the ice age). As the result of an hour-long discussion, the participants agreed to accept Afri Schoedon’s EIP-1234 with a slight modification to the difficulty bomb delay from 18 to 12 months.

This means that block rewards will be adjusted to a base of 2 ETH with uncle and nephew rewards reduced proportionally. The ice age component will be modified, so that the block difficulty will be calculated based on a fake block number, which will delay the difficulty bomb by 29 million seconds (approximately 12 months) and bring the block time back to 30 seconds by winter 2019.

Afri himself summarized the meeting in a reddit comment saying,

We agreed to accept EIP-1234 w/ 2 ETH block reward with the modification to delay the bomb by 12 months not 18. And it was accepted under the "condition" that we consider ProgPoW in the next hardfork and that we go for a better defined monetary policy

Afri Schoedon of Parity Technologies

Originally scheduled to October, the Constantinople hard fork is expected to take place in November 2018.

The full meeting is available on YouTube:


272.72 USD -8.76%
0.03118000 BTC 2.16%
Volume, 24h
2,405,210,584 USD
28,549,930,014 USD

Related news

Ethereum Price (ETH) Dives Below $200 & BTC Down 15%

ETH price declined heavily and broke the $220 and $210 support levels against the US Dollar. The price is down around 15% and it even broke the $200 support area to move into a bearish zone. There is a key bearish trend line forming with resistance near $210 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to slide further below the $192 and $190 support levels in the near term. Ethereum price is declining heavily and is already down more than 15% versus the US Dollar, similar to bitcoin. ETH price could continue to slide if it breaks the $190 support area. Ethereum Price Analysis After a short term upside correction, Ethereum price failed to gain traction above $235 against the US Dollar. ETH/USD started a fresh decline and broke a couple of important supports near the $225 and $220 levels. More importantly, bitcoin price failed near $11,000 and recently declined more than $1,000. The current price action is very bearish and it seems like ETH could continue to dive below the $200 support level. During the recent slide, there was a break below a major ascending channel with support near $230 on the hourly chart of ETH/USD. It opened the doors for a fresh decline below the $220 and $210 levels. Moreover, there was a break below the $200 support and the price settled well below the 100 hourly simple moving average. A new monthly low was formed near the $190 level and the price is still trading with a bearish angle. An immediate resistance is near the $200 level plus the 23.6% Fib retracement level of the recent drop from the $235 high to $190 low. Moreover, there is a key bearish trend line forming with resistance near $210 on the same chart. The 50% Fib retracement level of the recent drop from the $235 high to $190 low is also near the $213 level to act as a strong resistance in the near term. On the downside, an immediate support is near the $192 and $190 levels. If there is a downside break below the $190 support, the price may test the $185 support. The main support for the bulls is near the $180 level. Looking at the chart, Ethereum price is under a lot of pressure below $200, while bitcoin price dived below $9,500. Therefore, there could be more downsides below the $190 level in the near term. ETH Technical Indicators Hourly MACD – The MACD for ETH/USD is currently showing negative signs in the bearish zone. Hourly RSI – The RSI for ETH/USD declined heavily and it is now well below the 40 level. Major Support Level – $190 Major Resistance Level – $213 Ethereum Price (ETH) Dives Below $200 & BTC Down 15% was last modified: July 17th, 2019 by Aayush JindalThe post Ethereum Price (ETH) Dives Below $200 & BTC Down 15% appeared first on NewsBTC.

Bitcoin Ethereum Litecoin Ripple Binance LINK Technical Analysis Chart 7/16/2019 by

NEW FREE Technical Analysis Course: Trading Candlesticks Course: Entries & Exits Course: Join our community of thousands of analysts working together to learn the charts, generate profit and achieve financial independence. Live market coverage & exclusive educational content. Get trading support and on-demand technical analysis for your requested tickers. Sign up today at: Get the latest market updates and technical analysis on your favorite social media platform. Twitter Facebook Free Facebook Group Instagram Stocktwits: TCG Clothing: Any advisory or signal generated by is provided for educational purposes only. Any trades placed upon reliance on systems are taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading securities and options there is also substantial risk of loss in all trading. You must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell futures, options or commodity interests. is not registered as an investment adviser with any federal or state regulatory agency. The information contained within this Web site, including e-mail transmissions, faxes, recorded voice messages, and any other associated messages/media (hereinafter collectively referred to as “Information”) is provided for informational and educational purposes only. The Information should not be construed as investment / trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any securities mentioned.
Chart Guys

Ethereum Seeks Bitcoin Cash Scaling Solution: Here Are The Other Contenders

Ethereum co-founder Vitalik Buterin recently proposed using Bitcoin Cash (BCH) as a short-term scaling solution while the wait for Ethereum 2.0 continues. Specifically in search of a […] The post Ethereum Seeks Bitcoin Cash Scaling Solution: Here Are The Other Contenders appeared first on Hacked: Hacking Finance.

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.