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An online vote on the implementation of ProgPoW in the Ethereum (ETH) work verification algorithm (ETH) shows a majority in favor of change, according to the results updated today, February 15, on the portal dedicated to the vote.
ProgPoW is an Application Specific Integrated Circuits (ASIC) PoW Algorithm that replaces ETHhash, Ethereum's current PoW algorithm.
By defining the algorithm as resistant to ASICs, ETH developers mean that this algorithm would decrease, but not remove, the benefit of operating efficiency with the help of ASICs. ASIC compared to generic hardware such as graphics processing units (GPUs).
At press time, more than 76% (628,000 ETH, or more than $ 76 million) voted in favor of implementing the algorithm, while more than 23% (more than 000 ETH, more than 23 million dollars) voted against.
The voting portal indicates that "the holders of ether chips are among the people who will suffer a financial and economic impact" by the decision concerning ProgPoW. As such, the website notes that allowing ETH holders to express their positions through voting is a more legitimate form of expression than anonymous comments on online forums.
Election results will not be binding and no deadline has been set to end the voting process.
After reaching a consensus on the implementation of the algorithm in early January, the developers changed their minds and delayed the decision until the algorithm was audited by a third party at the beginning of the current month.
As reported Cointelegraph, ProgPoW has already been at the center of controversy after an Ethereum code contributor proposed to Ethereum developers to adopt ASICs, while some community members have suggested that the algorithm could prove to be less resistant to ASICs than previously thought.
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