ETH’s ProgPow Mining Change Gets Approval, Timeline Uncertain
A heated debate took place during an Ethereum developer call after a change to the network’s overall mining algorithm was proposed. The algorithm, in particular, is called Progressive Proof-of-Work or “ProgPow.”
Explaining ProgPow
According to the official report, this change would bring a significant impact of nearly $655 million annual market for Ethereum’s very own mining rewards. ProgPow, on the other hand, is all about reducing the efficiencies related to specialized mining devices, which are dubbed ASICs. At the same time, it helps to maximize the overall performance of general purpose hardware or also known as GPUs.
It is worth noting that both types of machines are ready for deployment on the network. Apparently, though, this has been a development that ignited countless debate.
There are those who believe that there is a need to optimize the network solely for GPUs, as this could enable more Ethereum users to compete for new digital currency courtesy of the protocol. Others, however, suggest that large mining companies will only push out these individuals, and this would happen regardless of the type of chips deemed to be capable of computing needed requirements.
Never-ending Debate In Ethereum
Nonetheless, the developers were able to reach a tentative agreement pertaining to the code sometime in January this year. But as far as Greg Colvin is concerned, the Ethereum core developer, there is already a “consensus” that everyone should move forward. According to him, during the aforementioned developer call, no one objected, blocked, or even agree on it.
Colvin, however, said that investigating all of these potential “technical issues” can be quite harder to overcome than previously imagined.
Since third-party security is responsible for auditing the ProgPow code, core developers opted to agree to the existence of a working group of project managers. These individuals will be responsible for the execution and delivery of findings from these audits. Unfortunately, the continuous disagreement over the report of these findings has been the blocking progress.
Considering the fact that the audits have yet to start, the community relations manager of the Ethereum Foundation named Hudson Jameson believe that the original plan could not move forward at all. He is basically referring to the former plan of conducting at least two separate audits over the proposal.
Jameson added that it is even possible for them not to go over the benchmarking. After all, according to him, it is the less important element of the two pieces of the audit.