Ethereum Launches ProgPoW Algorithm to Counteract ASIC

During a meeting on February 21, the developers of the Ethereum blockchain once again raised the issue of integration into the codecryptocurrency mining algorithm ProgPoW, which,it is expected to make its production on specialized ASIC equipment inefficient. The developers reached a consensus on the need to activate ProgPoW in July 2020.

Tentatively, the ProgPoW hard fork should take placein July, 3 weeks after the uncontroversial June update, along with which new cryptographic functions EIP-1962 will be added to Ethereum, writes CryptoBriefing.

ProgPoW theme among Ethereum developersrises at least for the third time. Many of them respond positively to the change, but some express concern over the possibility of a split community. The developers acknowledge that the update is controversial, and admit that a certain group may try to keep the old version of the protocol in working condition.

Coordinator James Hancock considers such a split unlikely. According to him, ProgPoW is the most “prepared for launch” of all planned Ethereum updates.

“I did not see evidence of the existence of ideology or people who would try to break the network. If I am mistaken, I will abandon the birth of the coordinator of the hard fork ”- he added.

SpankChain CEO Amin Suleymani and Founder of GnosisMartin Keppelmann opposed the proposed changes. They are invited to the next Ethereum developer meeting where they can announce their opinions.

“There is a lot of time left to openly express dissent. However, this will not necessarily change anything, because we have already reviewed the update from all sides and twice approved it. "Said Ethereum developer Hudson Jameson.

Three quarter mining poolsEthereum network hash rate, vote in support of ProgPoW. The founder of the project, Vitalik Buterin, in mid-2018 said that developers need to drop side tasks and focus on preparing the network for the transition to the Proof-of-Stake algorithm, with which the problem of ASIC miners will disappear by itself. A year and a half later, the timing of the full transition of Ethereum to the new protocol is still unknown.

“All that was required to be said was said. I think we just need to move forward. "“- summarized the head of security at the Ethereum Foundation, Martin Suende.

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