The Ethereum core development team recently had a meeting following the successful implementation of the Constantinople hardfork. During the meeting, which was was led by Hudson Jameson, the developers talked about the future of Ethereum particularly relating to upcoming upgrades. They scheduled a date for the activation of Istanbul and other upgrades. We’ll over 50% of Ethereum miners agreed to the implementation of ProgPow – Programmatic Proof-of-Work algorithm.
ProgPow: Programmatic Proof-of-Work
The implementation of ProgPow was proposed by a development team called IfDefElse. This client will reduce the control that ASIC miners have over the network and give more control to GPU miners. The client became necessary with the invention of ASIC miners which gave little room for GPU miners to earn. ProgPow will even the playing field so to say. ProgPow is an extension of ETHhash. ETHhash is an algorithm that makes graphic cards more competitive.
On a blog post, two Ethereum miners said that the ProgPow has two primary functions. One is to change the statement of a problem from time to time while the second is to make sure that the mining components of graphic cards are used to the full. The team behind the protocol is already working with AMD and Nvidia to make sure that the ProgPow is compatible. The proposal is under third-party audit at the moment.
Ethereum (ETH) Price Today – BTC / USD
During the meeting, Hudson said that the audit will be made up of two components. The first component is benchmarking while the second is determining how much time it would take for ASIC chip producers to build a ProgPow ASIC. In his words;
“We can see if its even going to be worth it to implement or if someone is going to make another ASIC in three months and all our work will be for nothing since the work isn’t entirely done yet. And, so I feel like this would be a more major factor, whether or not to go forward with ProgPow.”
After talking about the audit of the ProgPow protocol, Hudson noted that more than 57.8% of Ethereum miners are in support of the protocol. This is according to a vote that was carried out on EtherChain.
How long do you think it would take for manufacturers to come up with ProgPow ASIC? Share your thoughts in the comment section.