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Ethereum [ETH], the second largest cryptocurrency in the space, has constantly been in the spotlight for its technical developments. Currently, the upcoming and the most-talked-about upgrade is the implementation of ProgPow, Programmatic Proof-of-Work.
This protocol was proposed by IfDefElse team due to the rising concerns posed by ASIC mining. Once ProgPow gets the green light from the majority of the Ethereum ecosystem and manages to pass the audit, it would basically be an extension to Ethhash, the current Ethereum algorithm.
The key facet of ProgPow is that it enhances the performance of graphic cards, making them more competitive. More so, it also ensures that all the components of graphic cards are utilized to their full extent. Another important feature is that ProgPow changes the statement problem in mining on a timely basis.
According to reports, with the implementation of ProgPow, GPU miners will have an edge over ASIC miners. This is mainly because ASIC only focuses on one function. GPU miners can also enjoy an additional benefit, flexibility, as it can be used for mining and gaming. The IfDefElse team has also collaborated with leading graphic card manufacturers – Nvidia and AMD – to test the implementation effects.
Earlier this year, the majority of the Ethereum developers decided to tentatively go ahead with the process pertaining to ProgPow implementation on Ethereum, following which, the team decided to conduct an audit on ProgPow, in order to check whether it stayed true to its claims.
Hudson Jameson, a member of the Ethereum Foundation, recently stated that there were two processes involved in this audit: Benchmarking – a check to see if either Nvidia or AMD are performing in an unfair manner and another to check how long ASIC miners could be held at bay.
At the time of writing, the miners’ response to the implementation was immense. There was a turnover of 75% miners and all of them were in favor of the implementation.
ProgPow Miners Vote | Source: EtherChain
Wartywarlock, a Redditor said,
“The thing that gets me is nowhere is voting “No”, 25% don’t appear to give a toss, which is basically tacit endorsement of the most popular option. Do any pools offer a no vote? Ethermine said they would but at a glance I don’t see the option.”
Paleovanguard, another Redditor said,
“What percent would mine a different coin if the community consensus decided to never implement ProgPoW? Probably less than 5%.”
When asked whether the remaining 24% were ASIC miners, Aznar commented,
“If there is 24% of ASICs, why do we need Progpow?”
To this, flygoing replied,
“The tendency of ASICs is for the percent share to grow over time, as the efficiency increases and more companies manufacture them”