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Ethereum Miners Protest

Ethereum is on a bullish trend and many users are doing their best to advance the era of the ethereum 2.0 hackathon that developed Ethereum 2.0.

Meanwhile, it is a known fact that many Ethereum miners are angry about the planned changes to the network. Because we can say that this revision is set to reduce transaction fees for miners and destroy coins to reduce supply. There are miners who propose strikes or protests to show their opposing views and their strength.

These reactions arose in response to EIP 1559, and users of the ethereum blockchain confirmed the major change in the network that runs the ether cryptocurrency. This exchange was created as a revision to bitcoin’s rivals’ auction  system, where users send coins to miners to pay for transactions. The current protest, rumored to be, means launching an action that will disrupt the Ethereum network and redirect their mining power to Ethereum.org, a total of 51 hours of miner pool, on April 1, 2020.

Some ETH miners are discussing shutting down their mining power as they claim that they help in the process of ensuring the network is safe and fast and that they deserve the gains. The protest of Ethereum miners is within the realm of possibility, and it is not very clear whether it will actually happen. At the moment, such talks are in the discussion stage. However, some miners think that the current change could lead to a high price increase for ETH, and many miners support it.

As reported, whatever changes to EIP-1559 may come into effect in the summer at the London Hard Folk event. These protest rumors seemed to be coming from just a few mining communities, and they didn’t seem to have the power to make any major impact, and we also found that they didn’t have a huge impact.

A lot of things happen in ETH such as NFTs, Token Voting, games, tokens, oracles, bartering, lending, and staking. There are a lot of projects on the Ethereum network and they don’t want this network to fall apart, and perhaps a small group of miners are trying to create a panic while trying to show off their power.
What’s happening now is a political behavior where miners are trying to unleash their power. This isn’t really necessary in a huge network where massive scaling initiatives are underway. If a protest occurs, it means that they are disrupting innovation.

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