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March 31, 2021

Will Ethereum Miners Engage In A 51% Attack To Maintain High Profits?

Lowering of increasing blockchain transaction fees, which could be as high as $60 USD per transaction, called ‘contract execution’ is currently a matter of concern for the Ethereum Foundation. The proposed changes for the upcoming London hard fork, scheduled for July, will lead to short-term profit loss within the miner community. This is why the Ethereum Foundation, a non-profit, dedicated ecosystem of organizations and companies that support the Ethereum blockchain, is trying to de-escalate some miners’ attempts to display the “show of force” of a possible 51% attack on the network.

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