Rumors Circulate After ETH Devs Suddenly Decide a Proof of Work Change
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 were going ahead with it unless theres 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. Thats presumably because the current algorithm, ethhash, is designed to be memory intensive in order to prevent asics. ProgPoW apparently just increases that memory intensive aspect.
That seemingly comes at the expense of more difficult PoW hash verification on mobile devices. Péter Szilágyi says:
I think last time I saw benchmarks contained no verification. I think the best numbers were that ProgPoW is about twice as slow. So nothing too insane but not pleasant either.
Two individuals from the ProgPoW team were on the call. Instead of using their real names, they appeared as Mr Else and Miss If.
This apparent secrecy has led to whispers of Nvidia being behind the ProgPoW drive. Martin Köppelmann says:
If you would learn (and I am not claiming that), that ProgPOW development was funded by nvidia or AMD – would that make a difference in your willingness to support it?
Some 56% say yes in that poll, while 46% say no. Köppelmann doesnt claim Nvidia or AMD are involved, but a person willing to name himself as Alexander Levin Jr does make such suggestion.
He says he is president of gpuShack and founder of ethosdistro, a Linux-based mining operating system that is currently running on 100,000+ rigs and 650,000+ GPUs. Levin states:
ProgPoWs proponent appears to have a consulting relationship with NVIDIA and NVIDIA-related AICs. This means that NVIDIA may be privy to future optimizations sooner, and more often.
Furthermore, ProgPoWs proponents project Mineority seems to be focused on creating a platform for sourcing and providing cloud hosting specifically for NVIDIA GPUs.
Mineority has ceased to function as far as we can see. This appears to have been an FPGA cloud mining provider, founded by Kristy-Leigh Minehan, which recently went under. According to a summary of what happened:
Mineority fudged the numbers (due to ignorance, greed, or just plain stupidity), made promises, wrote a check too big to cash, HODLed a portion of their crypto as the market tanked, and are now essentially insolvent. Probably a lot of other greedy/shady s**t going on behind the s ...Read full story on Trustnodes