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   1134

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.

MyEtherWallet to Roll Out MEW Connect

The application provides a secure login to user accounts
19 September 2018   282

Developers of the popular wallet MyEtherWallet presented the final version of the mobile application MEW Connect.

The application provides a secure login to user accounts. With MEW Connect, users do not need to enter a private key to open a wallet. Instead of using a private key, the introduction of which may pose a security risk, the user reads a special QR code.

Kosala Hemachandra, MyEtherWallet founder in talk with TechCrunch said that he he hopes beta users will comb through the code and help find issues with the app before its wider release.

The app is available for both iOs and Android. service is visited daily by about 600 thousand users.

Recall, the beta version of MEW Connect was introduced in July.