According to Cointelegraph, a media specializing in cryptocurrency on the 14th (local time), EIP-3368 is an improvement proposal that appeared to mitigate the impact of EIP-1559 on miners. The content is to increase the block mining reward to 3 ETH for 2 years after the implementation of EIP-1559, and then reduce it to 1 ETH after 2 years. On the 13th, Ethereum developer team Beiko first proposed it through his Twitter.
“EIP-3368 has not yet been approved or planned for a fork,” said Beiko, but “it is the most feasible proposal that has emerged since the EIP-1559 controversy over the past few weeks.” Mining pools opposing the introduction of EIP-1559 have threatened to proceed with protests that will push power to one mining site for 51 hours.
Red Panda Mining, an influencer and cryptocurrency miner, who was one of the people promoting the mining protests, expressed support for EIP-3368. Cointelegraph reported, “Even so, the position of EIP-3368 in the Ethereum community is sharply opposed.” A user named’Green’ said the proposal was’a subsidy given to miners just to postpone change a little.’
Ethereum Core Developer Forum argued that EIP-3368 was “just delaying the merger with ETH2”. One investor said, “We just postpone the inevitable process of integration from ETH1 to ETH2, where the proof-of-work mining reward becomes zero.”
EIP-1559 is an improvement plan to set a fixed fee so that the Ethereum gas cost does not go up too much. Some miners suffer a big blow to their mining profits in the short term.