New Ethereum Proposal Divides The Community

A new Ethereum proposal is again in the coming altcoin news – and again – it proves controversial and divides the community. According to latest crypto news, Ethereum developers are considering an option to finance themselves from the block rewards while many in the community stand against this idea, arguing about how the rewards can be used and by whom.

The community members accepted the new Ethereum proposal after discovering an Ethereum Improvement Proposal, EIP-2025, posted twenty-eight days ago. It proposes 0.0055 ETH per block for 3,100,1000 blocks (or USD 3.6 million at current prices now) or for 18 months, as a developer block reward for funding Ethereum 1.x (a codename for a comprehensive set of upgrades to the Ethereum mainnet intended for near-term adoption) development.

One Ethereum advocate named Eric Conner was in the altcoin news as one of the first people to tweet about it. He found the idea absurd and soon made a correction that the EIP has a typo – according to him it is actually 0.0055 ETH per block and not 0.044 – confirmed by James Hancock who put forward this proposal. Still, the fact does not help the current mood in the community.

Thanks

To me anything >0 is the same. It's about not opening a pandora's box.

— eric.eth (@econoar) July 22, 2019

The criticism on this issue continued pouring in. Even though Conner argued that “it’s important to set a precedent that block rewards cannot be captured”, also mentioning that it’s “an insanely slippery slope”, others said that it’s important for the protocol to stay neutral.

An investor named Aftab ‘DCinvestor’ Hossain also rejected this idea and tweeted that the community has spoken: experimental dev funding mechanisms via block rewards, even for “testing” purposes, are a no-go.” He added that the amount of ETH in question is not relevant – “the precedent and mechanism” are.

Some other people offered other options for funding too. One of them was Anthony Sassano, who is doing marketing for the digital asset called Set Protocol and is a co-founder of ETHHub. He said that he is against the new Ethereum proposal and this particular EIP – but not against funding relevant development work on Ethereum.

In the relevant development work that he shared, he listed alternative funding options including DAOs, Gitcoin grants, pooled DAI ideas and Ethereum foundation grants – all of which attractive and viable, as many best cryptocurrency news sites confirmed.

I am (obviously) not against funding important development work on Ethereum but I oppose EIP-2025.

Here are some alternative funding options:

-DAOs (@MolochDAO, @meta_cartel)
–@gitcoin grants
–@econoar's pooled DAI idea
–@ethereum foundation grants https://t.co/mbHfy7NGuq

— Anthony Sassano | sassal.eth (@sassal0x) July 22, 2019