June 7, 2023

Ethereum community protests activation of ProgPoW algorithm

Ethereum community protests activation of ProgPoW algorithm

Members of the Ethereum community published a petition on GitHub, in which they expressed their disagreement with the plan to activate a new hashing algorithm that reduces the efficiency of mining on ASICs.

Platform management wants to activate EIP-1057in order to soften the transition to Proof of Stake and to avoid the hard fork that blocks the transition to Ethereum 2.0. The new ProgPoW algorithm should increase Ethereum's resistance to ASICs by placing them on a par with GPUs to free the network from the monopoly of integrated circuit manufacturers.

However protesting developers and representativescrypto industries claim that since Ethereum is a global platform with an extensive and diverse base of stakeholders, any significant changes to the protocol should be implemented only with the support of most members of the community, which EIP-1057 is clearly lacking.

According to them, ProgPoW initially caused a lotcontroversy, and debate continues to this day, as many question its effectiveness and feasibility. Part of the community believes that the team is wasting time on the transition algorithm.

Not only representatives signed the petitiondevelopment teams, but also the leaders of exchanges, various funds, mining companies and projects based on Ethereum, organizers of cryptoconferences and other interested. Protestants urge anyone who disagrees with EIP-1057 to join them to prevent a split in the community.