How does the recent decision by the ETH devs to delay a significant change to the difficulty algorithm factory in? This 'difficulty bomb' would have made mining significantly less profitable.
>The Difficulty Bomb was originally put in place for a variety of reasons:
>- To act as a deterrant for miners who wish to continue mining the Ethereum 1.0 (Proof of Work) chain once the network moved fully to the Ethereum 2.0 (Proof of Stake) chain
>- To ensure that the core developers of Ethereum 1.0 are "forced" to upgrade the network via a hard fork (if only to delay the effects of the bomb) so that the network does not stagnate innovation-wise
Better explanation from https://docs.ethhub.io/questions-about-ethereum/what-is-the-...
>The Difficulty Bomb was originally put in place for a variety of reasons:
>- To act as a deterrant for miners who wish to continue mining the Ethereum 1.0 (Proof of Work) chain once the network moved fully to the Ethereum 2.0 (Proof of Stake) chain
>- To ensure that the core developers of Ethereum 1.0 are "forced" to upgrade the network via a hard fork (if only to delay the effects of the bomb) so that the network does not stagnate innovation-wise