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Ethereum [ETH]: ProgPow is not only a technical discussion but also a political one, says developer

Priya

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Ethereum [ETH]: ProgPow is not only a technical discussion but also a political one, says developer
Source: Unsplash

Programmatic Proof-of-Work [ProgPoW] has been one of the key topics of discussion in the Ethereum community, with some favoring its implementation, while others staunchly against it. Kristy-Leigh Minehan, a developer working on ProgPow, recently spoke about the reason behind the debate, in an interview with BlockChannel.

The discussion on the reason for the debate began with Minehan stating that ProgPow was not only a technical discussion but also a political one. This was followed by the developer listing the reasons why it concerned the technical side as well as the political side of the Ethereum community.

Under the technical aspect of the debate, Minehan stated that the first concern was regarding the kind of hardware they want to secure the Ethereum network with, GPUs or ASICs. She stated that GPUs were naturally decentralized, readily available and cater more to home miners, while ASICs were “usually only” sold to enterprises. The second was whether there was still a need for ASIC resistance, considering that ASIC resistance was one of Etheruem’s goal four years ago. She said,



“[…] things evolve over time. So, there’s a lot of discussion from both the developers, application users, stakeholders and miners about, is AISC resistance part of our vision for Ethereum’s future. The third piece is, do we even care about the Proof-of-Work portion of Ethereum anymore because Proof of Stake is ‘on the horizon’.”

This was followed by the developer speaking about the political discussion surrounding ProgPow implementation. Minehan stated that this discussion was with regard to the governance of Ethereum. She stated that on one hand, there were a lot of stakeholders and application developers who felt that their “opinion was not heard” and that the decision of ProgPow implementation was made “without their input”. While on the other hand, miners felt like they were not heard and that their contribution to the Ethereum network was not valued anymore.

She said,

“And, the third piece is that many people are really pushing back because one ProgPow is very technical. It does take a bit of understanding of GPUs intimately work about how hardware intimately works and that can cause a bit of confusion, stress, a little bit of chaos […]





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Ethereum

Ethereum [ETH] witnessed 6 of 10 of its highest usage days in the past three weeks despite bear attacks

Akash Anand

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Source: Pixabay

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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