Ethereum’s ProgPoW May Trigger Major Market Movements if Implemented

News

There are a lot of discussions taking place when it comes to Ethereum and its future scaling solutions. One of the primary topics of debate is a solution under the name of ProgPoW. This programmatic proof of work implementation can be potentially groundbreaking for Ethereum, either for better or worse. Some sources claim it aims to get rid of ASICs, although that isn’t necessarily entirely correct. The Purpose of ProgPoW While one has to commend enthusiasts and developers for looking into different ways to move Ethereum into the next stage of development, some ideas raise more questions than answers. In Ethereum’s case, the solution known as ProgPoW has caused a fair few discussions over the past few months. That is only normal, as the idea is a bit controversial first and foremost. To put ProgPoW in perspective, it is a new proof-of-work algorithm. Most people already know Ethereum is switching to proof-of-stake at some point in the future. So far, there is still no official date as to when that switch will happen exactly. Until that PoS implementation comes around, other solutions to fight off the mining difficulty bomb will need to be explored first and foremost. Especially with Constantinople around the corner, ProgPoW can be quite interesting to explore. The proposal itself aimed to make GPU mining more efficient. At the same time, it reduces the efficiency of ASIC mining. While some sources wrongfully claim this means Ethereum will get rid of ASIC miners altogether, that is anything but…
Source: Ethereum’s ProgPoW May Trigger Major Market Movements if Implemented

Leave a Reply

Your email address will not be published. Required fields are marked *