Rumors Circulate After ETH Devs Suddenly Decide a Proof of Work Change

22w
6m read
Summary

Nvidia for its part is perhaps not directly involved, but some 10% of their GPU revenue/profits is related to eth mining. It took months of discussion, a lengthy token-holders vote, numerous dev calls and much debate to agree on an issuance reduction from 3 eth to 2 eth. All of the above may have been left in a rumors folder if some of Levin’s claims did not check out. He offers as evidence a discussion between Peter Nelson, Senior ASIC Design Engineer at NVIDIA, and Minehan on an unrelated algorithmic improvement. So nothing too insane but not pleasant either.” Two individuals from the ProgPoW team were on the call.

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It took months of discussion, a lengthy token-holders vote, numerous dev calls and much debate to agree on an issuance reduction from 3 eth to 2 eth.

It took just a 30 minutes long discussion for Hudson Jameson to say, without even asking first who agrees or not, that:

“We are going to tentatively go ahead with ProgPoW and by tentatively what we mean is we’re going ahead with it unless there’s a major problem found within the testing or things of that nature.”

They are now seemingly planning another fork just for this Proof of Work (PoW) algorithmic change ostensibly designed to get rid of asics.

What little discussion there was on asics, however, suggested they have only 2x efficiency. That’s presumably because the current algorithm, ethhash, is designed to be memory...

Read the full article @ TrustNodes