ETH PoW Miners’ Block Reward to be Reduced to 0.6 ETH

This innovtion is a part of upcoming  Friendly Finality Gadget Casper (FFG Casper) update
03 April 2018   241

The developers of Ethereum presented the technical characteristics of the first phase of the upcoming update, Friendly Finality Gadget Casper (FFG Casper), which will allow the network to switch to the hybrid mechanism of the consensus Proof-of-Work (PoW) / Proof-of-Stake (PoS). This is reported by Trustnodes.

In particular, the documentation specifies such an important parameter as the award to the miners for the block using the Proof-of-Work algorithm: after the new rules come into force, it will be reduced by 80% - from 3 ETH to 0.6 ETH.

In this proposed spec for stage 1 Casper, Ethereum will transition from pure proof of work to hybrid PoW/PoS. In this scheme, all of the proof of work mechanics will continue to exist albeit with a reduced block reward (0.6 ETH), but additional proof of stake mechanisms will be added. In particular, the fork choice rule (ie. the way that a client determines which chain is ‘the canonical chain’) will be modified to take these mechanics into account.

Ethereum Team

 It is also noted that the rules of fork's selection (the way by which the client defines the "canonical chain"), will be modified.

The published documentation does not specify a reward for PoS-miners. In theory, one might assume that the remaining 2,4 ETH will be redistributed to their advantage, but given the significantly reduced cost of this method, it can not be ruled out that the reward will be even lower.

Bitcoin Ethereum Crypto Summit comes to Texas

Richardson is hosting a 1-day conference - Bitcoin Ethereum Crypto Summit on May 12 to teach the basics and catch up with the the latest in the cryptoworld
20 April 2018   51

Leading cryptocurrency and blockchain experts are coming to Richardson to participate in Bitcoin Ethereum Crypto Summit 2018. This one day event will take place on May 12 at Noah's Event Center. BECS positions itself as an affordable crypto event providing the quickest way to experience and learn about cryptocurrency live and in person, learn the terminology, the concept, and the hands on information with no experience required, and the public is invited to take part and attend.

Here is the list of some of the topics and sessions that will be covered:

  • Bitcoin and Cryptocurrency 101 – All the basics you need to get started
  • Government Regulation of Cryptocurrencies
  • Meet the Altcoins – Fast-paced review of over 20 of the top alternative cryptocurrencies, including Ripple, Stellar, Stratis, Monero, Dash, and many more
  • Cryptocurrency and Taxes
  • Overview of Cryptocurrency Exchanges such as Coinbase, Poloniex, and more
  • Cold Wallets, Hot Wallets, Paper Wallets, and more – The main types, how to use them, and keep your crypto safe!
  • How To Spend and Accept Bitcoin, Ethereum, and other Cryptocurrencies
  • The Basics of Blockchain and Internet of Money
  • Trading Bots and Trading Software
  • User Experience and the Blockchain
  • Mining 101 – What is it, how does it work, and should you start mining on your own?
  • How To Start Your Own Token or Coin
  • Understanding Coin Price Indexes

Doors open at 8:30 am.