I would like to hear your suspicions and theories about real reson behind 1559 & POS.
This is mine:
Honestly… For me everything with Etherium changes feel like centralisation.
“Theoretically” this story could be as following:
- Google, Amazon or some other big company wishes to have control of Eth.
- Mentioned companies make a contact with Etherium controllers
- Offers them things like
- Unlimited hashpower (Maby even Quantum) for a good profit.
- Safer transaction that will be controlled by them and not being able to be tampered with outside monopoly circle.
- Result of lower transaction fees (This because what they announced with Eip1559)
- More control over manipulation of Eth ( This with centralisation and possibility to control 100% of Eth instead of so called 51% attack )
- Etherium controllers accept this because it will lead to bigger profit for them and possibility to rewrite transaction and make as much new Etherium as they wish for
I repeat that this is only my “Theory” !
Just saying… “Theoretically” =)
It could also “Theoretically” be China behind all this. Why? Well, they had biggest mining farms and by sound of this it could easy be an attack to take over Etherium. Now when they saw that it could be done and 51% attacks are very profitable. They wanted to get even more control by controlling 100% of hashpower. (This by having full controll over hashpower by owning servers/quantum…) In theory, 51% attacks that happened before could be a demonstration of their power and what they can do. This could theoretically be used as force to attack this currency and put it in the corner.
Also, banning crypto currency mining would take control from smaller fishes and stop the growth of normal individuals that potentially could climb to top and become economically independent. (In this case no one would work and be a slave to the system)
For those that do not know, China is dominating in world power around the world. Specially sense pandemic =)