Ethereum community protested the activation of the ProgPoW algorithm

ProgPOW Explained – A Brave New World for Ethereum Miners?

Ethereum community protested the activation of the ProgPoW algorithm

Members of the Ethereum community posted a petition on GitHub expressing their opposition to the plan to activate a new hashing algorithm that reduces mining efficiency on ASIC.

Platform leadership wants to activate EIP-1057 in order to soften the transition to Proof of Stake and avoid a hard fork blocking the transition to Ethereum 2.0. New ProgPoW algorithm should increase Ethereum’s ASIC resistance by putting them on a par with GPUs to free the network from the monopoly of manufacturers of integrated circuits.

However, the protesting developers and representatives of the cryptoindustry argue that since Ethereum is a global platform with a large and diverse stakeholder base, any meaningful changes to the protocol should implemented only with the support of the majority of community members, which EIP-1057 clearly lacks.

Ethereum community protested the activation of the ProgPoW algorithm

According to them, ProgPoW initially caused a lot of controversy, and the 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 transient algorithm.

Under the petition signed up not only representatives of the development team, but also heads of exchanges, various funds, mining companies and projects based on Ethereum, organizers of crypto conferences and others interested. Protestants call on anyone who disagrees with EIP-1057, join them to prevent a split in the community.

text: Ivan Malichenko, photo: iStock

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