chepicap.com
Funding has been secured for an important new phase in the development of the Ethereum network, as reported by CoinTelegraph. A third-party audit will be launched for the new ProgPoW protocol, which is intended to be ASIC-resistant.
The announcement of the funding was made at Ethereum's bi-weekly core devs meeting. Around 50,000 DAI was donated to pay for the audit, mostly crowdsourced through individual donations.
This third-party audit will verify the security of a different PoW protocol which has been developed for Ethereum. The new ProgPoW code is built to make it harder for ASIC mining units to gain an advantage over GPU systems. Miners who use GPUs generally struggle to compete for mining rewards, as their rigs are less specialized for the task of mining ETH than the single-purpose ASIC systems.
This decision to change the protocol to ProgPoW was initially made back in February, but the launch of the protocol had been delayed until a full audit of the system could be carried out.