Programmatic Proof-of-Work [ProgPow] has been one of the most talked-about updates in the Ethereum community. Its implementation proposal saw the support of a majority of the Ethereum community, with some expecting it to go live in the Istanbul hard fork and others claiming that it would have its own small hard fork.
In a Reddit post on the Ethereum subreddit, Hudson Jameson, one of the core devs of Ethereum Foundation, spoke about the future of ProgPow, whether it would go live in a hard fork, and most importantly if it would go live or not. He said:
“Back when we were deciding the issuance reduction at the end of 2018, ProgPoW was brought up a lot. Some considered it a ‘bargaining chip’ for miners to accept the issuance reduction. Some miners believe that it was agreed upon that we would put ProgPoW in a hard fork in exchange for an issuance reduction.”
This was followed by Hudson stating that during the end of 2018, the core devs decided to “investigate ProgPow to the fullest extent” and that there were “no promises” made in terms of its implementation. Further, he stated that even on January 4, 2019, at the core devs meeting, the decision to tentatively go ahead with ProgPow was made after he asked for consensus amongst team members on whether they had any opposition with it. However, no one responded to the question.
“It’s sort of like accepting a proposal by silence. To be clear, there were some core devs who were in favor of ProgPoW and had been for a long time so there was no need to reiterate their support at that moment. We were only looking for dissenting opinions and otherwise we would go forward with it.”
This was followed by Hudson stating that the Ethereum Cat Herders were working on finding the “appropriate auditor and rising funds” for ProgPow audit, adding that the complete details pertaining to this would be released next week. He added,
“In summary, a decision was made to move forward with ProgPoW, but no timeline was given as to when it would be activated in a hard fork. It may be activated in its own fork or with Istanbul. If an issue is found by the ProgPoW audit, we may not go forward with implementing and activating ProgPoW.”
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Ethereum [ETH] witnessed 6 of 10 of its highest usage days in the past three weeks despite bear attacks
Ethereum [ETH]’s movement on the cryptocurrency charts has been termed ‘slow’ or ‘unresponsive’ by many people involved in the world of digital assets. This subtle attack on the Vitalik Buterin co-founded network has been a prolonged process with many betting on the “death of the Ethereum network” due to the rise of faster and more efficient technologies and blockchain networks.
The second largest cryptocurrency, however, seems to have taken all these comments in stride as new data emerged that 6 of the 10 highest usage days in Ethereum’s history occurred over the past 3 weeks. Data from Etherscan.io showed a rise to a peak as Ethereum recovered well after the downturn in mid-January. The astounding peaks in terms of usage were also made evident when compared to the usage data in December/January 2018, the time period when the cryptocurrency market had reached its all-time high.
Some users in the cryptocurrency space were still critical about the data, with dk_holdnaut, a cryptocurrency enthusiast tweeting:
“I have never seen or even heard about anyone using any Ethereum app. If it was truly decentralized and censorship resistant I believe the people that value these perks the most atm and have the most funds to devote would’ve build a drug market dApp by now.”
However, Ethereum’s competition, EOS and Tron are not far behind. Just recently Tron, the Justin Sun-led cryptocurrency had announced that the TRX mainnet had crossed 2.5 million accounts, beating Ethereum with 8 million blocks. Ethereum, despite having the chronological advantage, had only 7.5 million blocks.
Ethereum had taken another hit when EOS set the record for the most number of cryptocurrency transactions in one day. Daniel Larimer, the CTO of Block.one had tweeted:
“#eos recently set a record of over 70m actions processed in one day. An average of over 810 actions per second. Our team is making great strides in further optimization and scaling. #B1JUNE”
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