Change in Ethereums ProgPoW mining to be considered for Istanbul upgrade

Wednesday 13 March 2019 00:12 CET | News

A mining algorithm has been considered to be included in Istanbul, the code designed to enact Ethereum’s next system-wide upgrade.

This algorithm is said to allow broader participation in its network. Ethereum Improvement Proposal (EIP) 1057, known as Progressive Proof-of-Work (ProgPoW) as well, has been debated during a meeting of project managers working on the world’s second-largest blockchain. On one side are those who believe it will limit large miners from dominating the USD 655 million annual market for new ether issuance, on the other side are those who believe it does not go far enough in leveling access.

Those in favour of ProgPoW said they plan to push for EIP 10557 to be included, should two third-party audits find no technical reasons for a delay. The results of the audit, which aim at solidifying the measurable benefits of a mining algorithm change, remain to be seen. However, as far as the audit goes there are two components: benchmarking and examination of how efficient a ProgPoW ASIC would be.

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Keywords: Ethereum, cryptocurrency, ProgPoW, mining, Istanbul, proof of work, blockchain, miners
Countries: World

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