November 30, 2023

ProgPoW Ethereum code will be activated in July

ProgPoW Ethereum code will be activated in July

At the next Friday meeting of Ethereum blockchain developers, the date for the integration of the algorithm was determinedmining ProgPoW cryptocurrency, which will make its mining on specialized ASICs ineffective.

The result of the discussions was the transfer of twoupdates for June and July 2020. While the EIP-1962 update will redesign some aspects of Ethereum (ETH) cryptography, the ProgPoW hard fork will create a new mining algorithm. 

Ethereum coordinator James Hancock, one of the mostconsistent supporters of the upcoming update, has received quite a lot of negative feedback from Ethereum developers and enthusiasts. Those who disagreed remembered that as a result of this hard fork, a break could occur into two chains of blocks with different mining rules. In addition, July 2020 was previously named as the tentative launch date for Ethereum 2.0, and such a concentration of updates in one month is scary for developers. 

However, almost all participants in the meetingThey expressed confidence that the dominance of professional miners with expensive ASIC equipment threatens decentralization and network security. They plan to eliminate this domination before the launch of Ethereum (ETH) 2.0.

Ability to switch Ethereum to algorithmProgPoW has been discussed by the developer community for the past two years since the release of the first application specific integrated circuit (ASIC) for ETH mining by Bitmain and Canaan. Most developers believe that it is better to keep the network optimized for inexpensive and easily accessible software in order to maintain the necessary level of decentralization.