Ethereum (ETH) Core developer (the main developers / core developers) have decided to make a new Proof-of-Work (PoW) algorithm that is based on the performance of the GPU – such as. ASIC Mining on the network would improve. This Change was in a meeting on may 4. January, decided, reported Coindesk.
The Community of Ethereum has agreed that a new algorithm is to be developed, the specific Mining Hardware blocks. The programmers are working to analyze the Code to verify the feasibility and effectiveness. The new algorithm, called ProgPoW would block ASICs, the influential Mining companies such as. Bitmain have been developed. This change could allow the Mining with conventional computers or GPU Hardware to be profitable.
IT security Manager, Martin Holst Swende said that he is in favour of this, since it supports the security of the unavoidable Change of the algorithm of Ethereum to Proof-of-Stake. PoS is a different algorithm, with the user of the crypto-currency you possess through the provision of Mining Power, but by the Placing of Coins already.
We know today that Ethhash has vulnerabilities, which are currently closed. Therefore, I would like to switch as quickly as possible [to ProgPoW], so that we have time to Proof to us to change, to concentrate of-Stake.
ASIC stands for Mining Hardware, the application-specific ASIC Chips (Application-Specific Integrated Circuit) are used, which have been developed to crypto-currencies based on a specific Hashing-mining algorithm to be very effective. While computer systems based on graphic processors (GPUs), have a fast life cycle and therefore become obsolete more rapidly, ASICs highly specialized and can therefore be used longer, which in turn leads to a better cost / Benefit ratio. Therefore, GPU systems, in the race to the next Block, that is currently a losing battle against ASICs.
Hudson Jameson, communications officer for the Ethereum Foundation, said:
It seems as if we have agreed that we will drive provisionally with ProgPoW Fort, which means that we continue as before, unless, when Testing or Developing a large Problem. We are going to make with ProgPoW more!
The co-founder of Ethereum, Vitalik Buterin, has recently released comprehensive designs for Proof-of-Stakes (PoS) and declared that it “will be a thousand times more efficient” than the current networks.
ProgPoW – The “Programmatic Proof-of-Work”
The purpose of ProgPoW is to keep the level of requirements of the algorithm as high as it is for Standard GPUs possible: the algorithm has to be run on a Routine ASIC, this will be a low probability for the Performance-accumulation how you are to be expected in the case of a specialized GPU.
ProgPoW is a Proof-of-Work algorithm that was developed to close the performance gap, which arises in certain ASICs. ProgPoW supports almost all versions of Commodity Hardware (GPUs) and is adapted to the various traditional hardware components in the Ethereum network.
Each algorithm can work with a Standard ASIC (CPU or GPU), is able to develop, by Definition, a customer-specific ASIC with a bit of reduced functionality. Some of the Algorithms are deliberately created as the “ASIC-friendly” – where a ASIC implementation is more effective than the equivalent algorithm that works on conventional Hardware. The security offered by such Algorithms when Mining is also an important objective for a dedicated Mining ASIC company.
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This article was from English into German:
Senior IT Consultant and Crypto Enthusiast always in search of interesting news.