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Ethereum developers delay the activation of ProgPoW
According to previous reports from this point of sale, at the beginning of last month, the Ethereum (ETH) developers met in a meeting that ignored a number of topics, including resistance to ASIC of the network. After some deliberation, the main developers of the project determined that it would be logical to activate in the future ProgPoW, a special protocol Proof of Work (PoW) which equals the playground between ASIC and GPU (almost like mining farms against consumers).
Although an agreement was apparently found for the protocol to be finally operational, the schedule was nebulous and barely mentioned. Thus, when the main developers of Ethereum, Hudson Jameson, Afri Schodedon and Lane Rettig, met Friday to discuss the issue, the ProgPoW activation program was the subject of in-depth discussions.
According to a report from The Block on this subject, ProgPoW has been put on the back burner. The developers determined that they did not know too much if they needed to activate the protocol, noting that an audit / external board had to be put in place to make sure the protocol was ready. to be put into service, but that the community / ecosystem Ethereum was too much. This does not seem to be an attempt to delay the protocol to the benefit of ASIC manufacturers, such as Bitmain, as one participant in a call said:
I do not know what to do here, expertise [in ASIC/ProgPoW debate] is not enough compared to others … it's hard to know who to listen to and who is the right one. It's a decision I'm not excited to take for the network.
Constantinople (emission reduction ETH) still to come
Although many members of the Ethereum community have been confused by the delay in implementing ProgPoW, there seems to be no clear cause for concern. In fact, since the announcement of the upgrade upgrade was announced, ETH has remained strong, recording a 0.7% gain over the last 24 hours in a "mixed bag" market.
And as Constantinople is still about to be (re) activated at the end of February, some will argue that the prospects for the third market-cap crypto-currency are actually more optimistic than bearish. For those who missed the memo, although Constantinople also focuses on providing short-term sizing solutions, such as reducing gas costs for smart contract executions, upgrading the network will reduce the amount Emitted ether by block.
If Constantinople is operational soon, the amount of ETH rewarded per block will increase from three to two (33% discount). By simply acting economic factors related to supply and demand, many badysts have qualified the catalyst upgrade for potential price improvement.
Alex Kruger, a cryptography researcher based in New York, has already claimed that the pitchfork was "decidedly optimistic" for ETH's long-term prospects because the reduction in the emission, or what the The so-called "third-time", would probably push crypto-currency up, because of simplicity. economy of supply and demand.
Moon Overlord, a major player in crypto, tackled this issue on Saturday by addressing Twitter to say that block rewards and layoffs "are the most optimistic events in crypto history." , adding that now is the time to pay attention and start accumulating.
This recent comment came after Overlord approached Twitter to spur media coverage of the halving of Bitcoin in May, which would result in a drop in the number of BTCs issued per block from 12.5 to 6.25. As previously reported Ethereum World News, the badyst said that "Bitcoin has traditionally started operating for about a year on average before halving its date." And as the next emission change is expected to take place in May 2020, the BTC could start to increase Can.
Title Image courtesy of Descryptive.com via Flickr
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