Ethereum Eagle
Ethereum Eagle is a United States-based company.
All edits
The live Ethereum Eagle price today is $0,000282 USD with a 24-hour trading volume of not available. We update our EGL to USD price in real-time. Ethereum Eagle is down ,35% in the last 24 hours. The current CoinMarketCap ranking is #9263, with a live market cap of not available. The circulating supply is not available and a max. supply of 4 000 000 000 EGL coins.
To learn more about this project, check out our deep dive of Ethereum Eagle.What Is Ethereum Eagle (EGL)?
What Is Ethereum Eagle (EGL)?
Eagle Etherium is over.
The team announced the closure of the project.
August 11, 2022
March 8, 2022
August 11, 2021
Ethereum Eagle
Get the latest Ethereum Eagle price, EGL market cap, trading pairs, charts and data today from the world's number one cryptocurrency price-tracking website
August 11, 2022
November 15, 2021
Hey everyone!
It’s been one heck of a ride so far, and ETH governance is just getting started.
Below you’ll find a short re-cap of what happened so far, and the roadmap going forward.
The Good Stuff
EGL Genesis had exceeded our expectations, and ~11,000 ETH had been staked by Genesis participants to bootstrap EGL. These 11,000 ETH were matched with 750M EGLs and deployed to Balancer, creating a $100M ETH-EGL market (as of today).
If you don’t recall, this entire liquidity pool belongs to the Genesis participants (gradually released over a course of a year) and it is crucial because it creates a venue where mining pools can sell their EGLs. This is a good thing! Mining pools are not “dumping on EGL”, the EGL protocol incentives pools to set the gas limit by awarding them EGLs, which they do because these EGLs have value and they can be sold.
EGL Voting had a real effect on the gas limit, which is W-I-L-D!!!
If you don’t understand how wild it is, you must be living under a rock and missed the storm this tweet raised.
Pools are listening to EGL. Most hashpower had already tried following EGL, and we’re in close contact with them regarding continue doing so (see details below).
The Challenges
The number #1 challenge EGL had is with communication.
Following EGL’s success, many core devs had raised their concerns whether EGL can be abused to increase the gas limit to unsafe levels. We took the time to analyze these concerns and address them here.
A second challenge we’ve seen is that post-1559 gas fees had increased to 100–150 gwei, compared to 10–30 gwei pre-London. Mining pools are still glad to follow the EGL vote to collect EGLs, but they need to be compensated with a lot more EGLs just to break even, and even more to be worth their while. We address it below.
A third challenge was the design of the EGL-sweeping transactions, which always sweep EGLs to the coinbase address, which allows a transaction created by one pool to pay for EGLs swept by another pool, and complicate the pool operation as it requires sending EGL from the address they use for pool-miners accounting.
The Roadmap
Here’s what’s coming to EGL in the short and medium term
Short Term
We are working hard an aim to soon release a technical proposal to improve EGL’s mechanism. Specifically we aim to:
Avoid sweeping EGLs every blocks, and instead use an on-chain “sampling” of the hashpower of each pool and how closely it follows the EGL vote.
The sampling will test 1% of the blocks, reducing the cost for pools by x100, and significantly reduce the amount of EGLs they need to be awarded to be incentivized
Allow pools to only sweep EGLs if they are the ones to receive them, and specify once the address they wish to receive the EGLs they receive
Medium Term
Keeping an open communication channel with core devs is extremely important. different core devs have different opinions what the gas limit should be, but as a group they remain the beast beacon (no pun intended) for the community to navigate its path.
In our recent post, we explored multiple solutions to the concerns raised by core devs. Among them we consider giving “Signals” — core devs who use EGL to share their view on the gas limit with the community — a “Killswitch” to turn EGL off if majority of Signals feel it is being abused.
We intend to explore these solutions and see which solutions will be best for EGL and the ETH ecosystem as a whole.
We‘ll publish more details on our progress in the coming weeks.
Keeping soaring higher!
July 2021
EGL Price Live Data
The live Ethereum Eagle price today is $0,045688 USD with a 24-hour trading volume of not available. We update our EGL to USD price in real-time. Ethereum Eagle is down ,13% in the last 24 hours. The current CoinMarketCap ranking is #8834, with a live market cap of not available. The circulating supply is not available and a max. supply of 4 000 000 000 EGL coins.
To learn more about this project, check out our deep dive of Ethereum Eagle.
November 15, 2021
Hey everyone!
It’s been one heck of a ride so far, and ETH governance is just getting started.
Below you’ll find a short re-cap of what happened so far, and the roadmap going forward.
The Good Stuff
EGL Genesis had exceeded our expectations, and ~11,000 ETH had been staked by Genesis participants to bootstrap EGL. These 11,000 ETH were matched with 750M EGLs and deployed to Balancer, creating a $100M ETH-EGL market (as of today).
If you don’t recall, this entire liquidity pool belongs to the Genesis participants (gradually released over a course of a year) and it is crucial because it creates a venue where mining pools can sell their EGLs. This is a good thing! Mining pools are not “dumping on EGL”, the EGL protocol incentives pools to set the gas limit by awarding them EGLs, which they do because these EGLs have value and they can be sold.
EGL Voting had a real effect on the gas limit, which is W-I-L-D!!!
If you don’t understand how wild it is, you must be living under a rock and missed the storm this tweet raised.
Pools are listening to EGL. Most hashpower had already tried following EGL, and we’re in close contact with them regarding continue doing so (see details below).
The Challenges
The number #1 challenge EGL had is with communication.
Following EGL’s success, many core devs had raised their concerns whether EGL can be abused to increase the gas limit to unsafe levels. We took the time to analyze these concerns and address them here.
A second challenge we’ve seen is that post-1559 gas fees had increased to 100–150 gwei, compared to 10–30 gwei pre-London. Mining pools are still glad to follow the EGL vote to collect EGLs, but they need to be compensated with a lot more EGLs just to break even, and even more to be worth their while. We address it below.
A third challenge was the design of the EGL-sweeping transactions, which always sweep EGLs to the coinbase address, which allows a transaction created by one pool to pay for EGLs swept by another pool, and complicate the pool operation as it requires sending EGL from the address they use for pool-miners accounting.
The Roadmap
Here’s what’s coming to EGL in the short and medium term
Short Term
We are working hard an aim to soon release a technical proposal to improve EGL’s mechanism. Specifically we aim to:
Avoid sweeping EGLs every blocks, and instead use an on-chain “sampling” of the hashpower of each pool and how closely it follows the EGL vote.
The sampling will test 1% of the blocks, reducing the cost for pools by x100, and significantly reduce the amount of EGLs they need to be awarded to be incentivized
Allow pools to only sweep EGLs if they are the ones to receive them, and specify once the address they wish to receive the EGLs they receive
Medium Term
Keeping an open communication channel with core devs is extremely important. different core devs have different opinions what the gas limit should be, but as a group they remain the beast beacon (no pun intended) for the community to navigate its path.
In our recent post, we explored multiple solutions to the concerns raised by core devs. Among them we consider giving “Signals” — core devs who use EGL to share their view on the gas limit with the community — a “Killswitch” to turn EGL off if majority of Signals feel it is being abused.
We intend to explore these solutions and see which solutions will be best for EGL and the ETH ecosystem as a whole.
We‘ll publish more details on our progress in the coming weeks.
Keeping soaring higher!
EGL Price Live Data
The live Ethereum Eagle price today is $0,045688 USD with a 24-hour trading volume of not available. We update our EGL to USD price in real-time. Ethereum Eagle is down ,13% in the last 24 hours. The current CoinMarketCap ranking is #8834, with a live market cap of not available. The circulating supply is not available and a max. supply of 4 000 000 000 EGL coins.
To learn more about this project, check out our deep dive of Ethereum Eagle.
What Is Ethereum Eagle (EGL)?
Ethereum Eagle (EGL) aims to overcome the lack of transparency and incentive mismatch between the Ethereum community and miners. The project is community-led, and operates to maximize value for all stakeholders in the process.
Users of the Ethereum blockchain are not satisfied with the increased transaction fees. Miners define gas limits and block sizes (for protocol), and blockchain users have no vote. This situation is a problem and Ethereum Eagle aims to provide a solution. This is where the EGL token enters the scene with the aim of smoothing the corners of this issue and offering the coordination token. The idea is that holders use the token to vote on the Ethereum gas cap, thus the entire ETH ecosystem can vote on the gas cap. There is a stimulation of mining pools, and EGL encourages miners to adhere to a single and joint solution.
The official launch announcement took place in June 2021, and the IEO (Initial Exchange Offering) event ran from July 28, 2021 to Aug. 11, 2021.
Who Are the Founders of Ethereum Eagle?
Ethereum Eagle (EGL) is built by the bloXroute team which creates the crucial blockchain network infrastructure to scale Web 3.0. They are audited by HALBORN – a cybersecurity provider for blockchain companies. As for the bloXroute company, it was founded in 2017 by Prof. Aleksandar Kuzmanovic (Chief Architect), Dr. Uri Klarman (CEO), and Eyal Markovich (COO).
BloXroute is a blockchain distribution network whose mission is to provide assistance in scaling blockchains to thousands of transactions per second. The platform is backed by a global network of servers that are optimized for network performance using compression, encryption and advanced technologies. Through its functionality, the bloXroute platform quickly disseminates transactions and blocks, which allows customers to make data distribution more efficient, and this factor increases the throughput of transactions.
What Makes Ethereum Eagle (EGL) Unique?
Ethereum Eagle in every possible way creates an economic incentive for the community to research, vote and determine the most "cost-effective" gas limit. It also rewards mining pools. EGL is a community initiative that serves as a bridge of the incentive gap between Ethereum miners and Ethereum users.
How EGL works: each week EGL holders vote on a desired gas limit. Then, this limit is set (also once a week), and miners earn EGL by mining the block following the vote of the EGL holder.
On Aug. 7, 2021, EGL Genesis started and took about a week on CoinList. During that period, it was possible to earn ETH in the EGL Genesis contract; token holders and the entire ETH community could vote for gas limits – and as a result earn EGL tokens. If miners meet the EGL and ETH community gas limits, they earn EGL tokens in addition to the regular rewards. In this way, the EGL plays the role of both a coordination mechanism and a reward. According to Ethereum Eagle, the company plans to offer similar benefits in the future.
The EGL token was created to solve all coordination problems in Ethereum. ETH holders can participate in EGL Genesis events by staking ETH and receiving additional rewards in the form of EGL tokens.
The EGL token goes to the main developers in order to take part in the vote, influence the result of the vote, and to communicate their opinion to the participants.
When the gas limit is adjusted in accordance with the ecosystem's requests, mining pools are rewarded.
EGL was created to quickly deploy the ETH-EGL Balancer pool, resulting in value for EGL. Furthermore, when the gas limit is optimized to the maximum safe value, value is created for the entire ecosystem.
Ethereum Eagle
Get the latest Ethereum Eagle price, EGL market cap, trading pairs, charts and data today from the world's number one cryptocurrency price-tracking website
Ethereum Eagle
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