Ethereum to Integrate ASIC-Resistant Algorithm ProgPoW

Ethereum developers have approved the implementation of the Application Specific Integrated Circuit (ASIC)-resistant algorithm ProgPoW.

In the weekly meeting on March 15, the core devs of the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term project reached an overall consensus for the integration of the algorithm. However, the team did not provide any specific timeline.

This is the second time, the core devs have approved ProgPow, as in a similar meeting in January, they approved the same algorithm. However, later, the developers decided to wait and delay the integration until the algorithm is audited by a third-party.

In the latest meeting, the developers argued about the effectiveness of the algorithm and its advantages over others to suppress the efficiency of ASICs.

“We’re going back to stuff we were tired of talking about months ago! We Decided that the only issue is whether there were errors in the algorithm, backdoors in the algorithm, anything like that. [...] Not arguments between the GPU people and the ASIC people. That will unroll over time,” Greg Colvin, one of Ethereum core developers, said.

Hard Forked

Ethereum, last month, pushed two hard forks - Constantinople and St. Petersburg - on the blockchain. Constantinople was a much-anticipated update for the blockchain which implemented five different Ethereum Improvement Proposals (EIPs) to permanently alter the blockchain with a host of new backward-incompatible upgrades.

The fork changed the blockchain’s economic policy and fee structure, paving a more straightforward way towards its goal to be a highly scalable platform. However, the hard fork did not change any services provided to end-users, as it was mostly a “maintenance and optimization upgrade.”

Can Ethereum Achieve Its Desired Scalability?

Last month, Craig Wright, the self-proclaimed creator of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, has attacked Ethereum blockchain for its scalability issues in a document submitted to the Commodity Futures Trading Commission (CFTC).

#bitcoin can not hold the 4000 mark and #ethereum can not hold the 140 mark.. Next break could be the real one !!

— Jan Groenen (@jwfgroenen) March 17, 2019