Ethereum Developers Plan to Reduce the Power of ASIC Miners
Ethereum developers are aiming to increase the number of miners in order to make the network more decentralized, so a code can be added to the algorithm to make ASICs weak.
Ethereum network developers are preparing to take steps to add code that could reduce the power of the ASIC miners .
A group of developers are working on the update they call ProgPow. ProgPow is not finalized yet, and other audits are postponed as controls continue. Audits through third parties will give an idea of how the new mining algorithm can change the ASIC effect. As you know, GPUs are cheaper and more consumer-friendly, and it is not possible to compete with ASICs used by large capitals. Some of the developers are undecided about adding code.
The algorithm that will change will increase the number of participants and miners required for the approval of Ethereum operations. It would be expected that this method, which in theory would require the need for many miners, would increase the number of miners as it created a more competitive environment. Hudson Jameson of the Ethereum Foundation stated that the audit results of the new algorithm would answer many questions.
Software engineer Danno Ferrin said the changes will show how changes affect the Ethereum network. It is not clear when the results of the audit will come, but according to Jameson, the most realistic expectation is the month of April. A change can also be made to the Ethereum network about the change. The developer, Lane Rettig, said that the votes used in favor of ProgPow may have a meaning that changes need to be made, but should not be taken into account if the result of the vote is negative.
Previously Ethereum’in great update Constantinople’in late February, we have shared with you the news of the post. Constantinople was delayed due to the detection of various security vulnerabilities. The final plan of the Ethereum developers related to mining is to pass the network to the Proof of Stake (PoS) algorithm and to make the mining token as a kind of share. Ethereum advances its development with a cautious and slow pace, so it is aimed to test a system where PoW and PoS systems work together.