Media: Jihan Wu backs Ethereum EIP-1559 upgrade.

Jihan Wu, co-founder of the Chinese mining giant Bitmain, voiced his support for the Ethereum Improvement Proposal EIP-1559. Colin Wu reported.

Exclusive: Jihan Wu, co-founder of Bitmain and the spiritual leader of BCH, today expressed his support for EIP-1559: Vitalik worked so hard to make such a good proposal, and miners should not opposed, if the proposal passed, the price of ETH will rise, miners are also winners. pic.twitter.com/p87U8rJpn9

— Wu Blockchain (@WuBlockchain) March 2, 2021

“Vitalik [Buterin] worked hard to come up with such a good proposal, and miners should not object if it is adopted. The price of Ethereum will rise, miners will also win,” the journalist quoted Wu as saying.

Ethereum co-founder Vitalik Buterin proposed EIP-1559 in 2019. It proposes burning a portion of transaction fees and aims to reduce volatility in gas prices.

Earlier, the third-largest Ethereum pool F2Pool supported EIP-1559. Opponents were operators of the largest and second-largest pools — Sparkpool and Bitfly.

Back in February 2021, Jihan Wu sold the BTC.com mining pool to the online-lottery services provider 500.com Limited, which had come to him as part of a settlement.

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