10,000 Tons CO2 per day and climbing – EIP 858: Reduce block reward

In 8 days, since the last post on this, the hashrate has increased over 11% pushing the baseline network power consumption to roughly 790 MW with a corresponding network contribution to global CO2 of over 10,000 Tons per day (refs). As a community we should support a reduction in the block reward (EIP 858) in order to reduce the demand we are making for mining.

There is little downside and significant upside potential benefit from supporting a reduced block reward. Given adequate security on a forked 1 ETH/block chain there is little reason for users to choose a 3 ETH/block chain. If that security does not materialise the original 3 ETH/block chain remains available for use (+ experience). From a technical standpoint, the changes required for providing users with this choice are minimal (not a distraction). It's much more a matter for the community to decide is worth it's effort. And surely it is worth the effort when the cost/benefit is so attractive.

Submitted February 05, 2018 at 06:01AM }
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