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zasad@

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Quote from: BitScorpio on June 12, 2021, 09:06:23 PM

Quote from: zasad@ on June 12, 2021, 04:40:16 PM

For a coin mined by miners, voting takes place on pools. Each member of the mining pool votes with their hashrate, and then the pool decides whether to support the hard fork or not. Ethereum has 3 large pools that own more than 60% of the hashrate. It is enough to convince these pools, and the rest will be forced to join or mine a new Ethereum classic №2.

If I understand your question correctly, then I will try to give you a simple explanation. Miners are maintenance personnel who receive money for their work. In fact, everything has already been decided and agreed upon, if you, as a miner, think that you can influence the vote, then you are wrong.

Interesting, this brings another question. Who gets to decide which network is Ethereum and which is Ethereum classic №2? What happens if supporters/miners/pools/nodes/whatever of both networks want to be recognized as Ethereum? Will everyone just have to respect the wishes of the stronger/bigger network?

This is a legal matter, the Ethereum trademark is owned by the Ethereum Foundation. What if most of the Chinese factories produce clothes under the Adidas brand because the majority of the Chinese want to do that?
Most miners want to be rewarded with marketable coins. If some pools do not want to update the software, then they will mine a new and useless coin. Miners will leave these pools and pool owners will receive burn notice.

BitScorpio

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Quote from: zasad@ on June 12, 2021, 04:40:16 PM

For a coin mined by miners, voting takes place on pools. Each member of the mining pool votes with their hashrate, and then the pool decides whether to support the hard fork or not. Ethereum has 3 large pools that own more than 60% of the hashrate. It is enough to convince these pools, and the rest will be forced to join or mine a new Ethereum classic №2.

If I understand your question correctly, then I will try to give you a simple explanation. Miners are maintenance personnel who receive money for their work. In fact, everything has already been decided and agreed upon, if you, as a miner, think that you can influence the vote, then you are wrong.

Interesting, this brings another question. Who gets to decide which network is Ethereum and which is Ethereum classic №2? What happens if supporters/miners/pools/nodes/whatever of both networks want to be recognized as Ethereum? Will everyone just have to respect the wishes of the stronger/bigger network?

zasad@

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Quote from: BitScorpio on June 12, 2021, 03:40:07 PM

Quote from: zasad@ on June 12, 2021, 01:50:59 PM

Quote from: BitScorpio on June 12, 2021, 12:23:49 PM

I've been around for a while & tried searching for an answer but couldn't really find anything about it.

There are people who are with & against Ethereum switching to PoS. From my understanding, people who own nodes have to agree to update their software in order for an update to be effective which brings us to some questions I currently have:

1- Where/how do people decide that the majority agrees to use a specific version/update?
2- Do miners play a role in deciding what happens? Or is it all in the hands of the people running the network's nodes?
3- When a fork occurs, what determines which network remains with the original name & the other has to figure out another?

Read this information
https://ethmerge.com/
"Can I stay on the proof-of-work (PoW) version of Ethereum after "The Merge"?
No — there is only one Ethereum and the entire network will switch to the new proof-of-stake (PoS) consensus engine. When "The Merge" occurs the entire Ethereum proof-of-work (PoW) chain becomes the Ethereum PoS chain.

If any nodes were to continue mining a PoW version of Ethereum the would be on their own minority fork and the economic value of their block rewards would be far below their cost of operation. Because miners are incentivized to operate at a profit, it is expected that all PoW participants will immediately begin to mine with their hardware on other non-Ethereum PoW blockchains."

How do we determine the majority/minority before rolling an update? Does a voting happen somewhere or is there a specific platform that hosts such discussions?

For a coin mined by miners, voting takes place on pools. Each member of the mining pool votes with their hashrate, and then the pool decides whether to support the hard fork or not. Ethereum has 3 large pools that own more than 60% of the hashrate. It is enough to convince these pools, and the rest will be forced to join or mine a new Ethereum classic №2.

If I understand your question correctly, then I will try to give you a simple explanation. Miners are maintenance personnel who receive money for their work. In fact, everything has already been decided and agreed upon, if you, as a miner, think that you can influence the vote, then you are wrong.

BitScorpio

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Quote from: zasad@ on June 12, 2021, 01:50:59 PM

Quote from: BitScorpio on June 12, 2021, 12:23:49 PM

I've been around for a while & tried searching for an answer but couldn't really find anything about it.

There are people who are with & against Ethereum switching to PoS. From my understanding, people who own nodes have to agree to update their software in order for an update to be effective which brings us to some questions I currently have:

1- Where/how do people decide that the majority agrees to use a specific version/update?
2- Do miners play a role in deciding what happens? Or is it all in the hands of the people running the network's nodes?
3- When a fork occurs, what determines which network remains with the original name & the other has to figure out another?

Read this information
https://ethmerge.com/
"Can I stay on the proof-of-work (PoW) version of Ethereum after "The Merge"?
No — there is only one Ethereum and the entire network will switch to the new proof-of-stake (PoS) consensus engine. When "The Merge" occurs the entire Ethereum proof-of-work (PoW) chain becomes the Ethereum PoS chain.

If any nodes were to continue mining a PoW version of Ethereum the would be on their own minority fork and the economic value of their block rewards would be far below their cost of operation. Because miners are incentivized to operate at a profit, it is expected that all PoW participants will immediately begin to mine with their hardware on other non-Ethereum PoW blockchains."

How do we determine the majority/minority before rolling an update? Does a voting happen somewhere or is there a specific platform that hosts such discussions?

zasad@

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Activity: 1932

Merit: 4602

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Quote from: BitScorpio on June 12, 2021, 12:23:49 PM

I've been around for a while & tried searching for an answer but couldn't really find anything about it.

There are people who are with & against Ethereum switching to PoS. From my understanding, people who own nodes have to agree to update their software in order for an update to be effective which brings us to some questions I currently have:

1- Where/how do people decide that the majority agrees to use a specific version/update?
2- Do miners play a role in deciding what happens? Or is it all in the hands of the people running the network's nodes?
3- When a fork occurs, what determines which network remains with the original name & the other has to figure out another?

Read this information
https://ethmerge.com/
"Can I stay on the proof-of-work (PoW) version of Ethereum after "The Merge"?
No — there is only one Ethereum and the entire network will switch to the new proof-of-stake (PoS) consensus engine. When "The Merge" occurs the entire Ethereum proof-of-work (PoW) chain becomes the Ethereum PoS chain.

If any nodes were to continue mining a PoW version of Ethereum the would be on their own minority fork and the economic value of their block rewards would be far below their cost of operation. Because miners are incentivized to operate at a profit, it is expected that all PoW participants will immediately begin to mine with their hardware on other non-Ethereum PoW blockchains."

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Quote from: BitScorpio on June 12, 2021, 12:23:49 PM

3- When a fork occurs, what determines which network remains with the original name & the other has to figure out another?

3. I think it's the community that decides which chain to support. Just as the ETC/ETH fork. ETC was the original and then the community has supported the fork version which is Ethereum. I'm not yet there when the fork happened for ETC/ETH so if I'm wrong with my understanding, you're free to correct me. And as for its name, I think they remain the same and the original one stays with its name and its the dev that have pushed the fork who will decide to name the new chain/fork.

BitScorpio

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Quote from: JeffBrad12 on June 12, 2021, 12:31:52 PM

1. This based on the total of miners who agreed to upgrade their client to the new client that was supporting the new update.

How do they communicate & decide if someone is going to start working on programming the update?

Quote from: JeffBrad12 on June 12, 2021, 12:31:52 PM

2. The miners are playing the main role to decide whether the upgrade can be implemented or not. This depends on how many miners who have been upgrading their clients.

By miners I assume we're technically talking about those running full nodes & opt in to not just validating but actually participate in the process of mining blocks? If not I'd love if you can correct me on this.

Quote from: JeffBrad12 on June 12, 2021, 12:31:52 PM

3. The original chain that gets forked will remain the same but if there will be a new chain generated caused by the fork and it will be named as a fork chain.

I still don't understand how is it decided. Say we have 100 nodes supporting a network & 99 nodes decide to run the new version & 1 remains using the old one... Who has the say in "The network with 1 node remains as Ethereum while the network with 99 nodes will be called Ethereum-99"

JeffBrad12

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1. This based on the total of miners who agreed to upgrade their client to the new client that was supporting the new update.
2. The miners are playing the main role to decide whether the upgrade can be implemented or not. This depends on how many miners who have been upgrading their clients.
3. The original chain that gets forked will remain the same but if there will be a new chain generated caused by the fork and it will be named as a fork chain.

BitScorpio

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Activity: 9

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I've been around for a while & tried searching for an answer but couldn't really find anything about it.

There are people who are with & against Ethereum switching to PoS. From my understanding, people who own nodes have to agree to update their software in order for an update to be effective which brings us to some questions I currently have:

1- Where/how do people decide that the majority agrees to use a specific version/update?
2- Do miners play a role in deciding what happens? Or is it all in the hands of the people running the network's nodes?
3- When a fork occurs, what determines which network remains with the original name & the other has to figure out another?

Topic: Ethereum (Read 124 times)