Ethereum update: FOMO3D – pro-active thought required in terms of planning for this?
Have a horrible feeling this may end up swallowing Ethereum 🤔 Not sure that miners are very incentivised to claim it, which kind of means a perpetual motion machine AFAICT… Hard fork could probably resolve and maybe not contentious if FOMO3Ds growth reaches certain levels… Or maybe people will stop playing (but then who gets the 21,000+ ETH…)…
Hard fork or miner intervention would both not be great – struggling to see how else this ends, unless it just acts as a permanent deflationary effect, with miners being forced (or opt in) to help fund it (paying in the minimum per block needed to ensure the timer is always T+24hrs and thus making any miner based attack very expensive and obvious)… .
Could it be a way for a decentralised community to opt-in to a kind of deflationary mechanic?
Will be interesting to see how this plays out – very complex economic and social dynamics…
r/https://www.reddit.com/r/ethereum/comments/90nztx/miners_censorship_or_how_fomo3d_might_end/?st=JJWORFMM&sh=0642f915
About Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Author: adamaid_321
Score: 10
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