- Despite consensus among Core Devs, the ProgPow proposal, which aims to reinstate ASIC-resistance, has faced pushback from the wider Ethereum community
- Concerns revolve around security, free market ideals, and the possibility of an avoidable chain split
- Irrespective of the ultimate outcome, the ProgPow debate will provide significant insight into Ethereum’s informal governance process
Last week’s Ethereum Core Dev Call concluded with renewed discussion of ProgPow, a proposed change to the Ethereum hashing algorithm, Ethash, which would narrow the performance gap between generalized and specialized hardware by as much as 90%.
The rationale behind the algorithm adjustment speaks to Ethereum’s egalitarian ethos: the improved efficiency of specialized versus generalized hardware provides material advantages to ASIC owners, destroying any notion of Satoshi’s ‘one CPU one vote’ and concentrating hashpower in the hands of those who can leverage economies of scale to afford more expensive machines.
Enter The Block Genesis
Information your competitors wish they had.
The Block Genesis consists of our most in-depth, timely and impactful pieces, giving you an informational edge over the entire financial and technology industry. Genesis members get exclusive access to the stories that the mainstream media doesn’t understand and that remains undiscovered and buried amid the noise of social media. On a daily basis, The Block Genesis will feature the best research, investigative reporting, analysis, company digests, op-eds, and interviews. The Block Genesis is the first and last word on the world of digital assets, cryptocurrencies, and blockchain.
Below you’ll find a selection of articles exclusively for Genesis members.
- Research: MimbleWimble: History, Technology, and the Mining Industry
- Industry Overview: Block by Block – Crypto Lending
- Investigative Reporting: Blockchain Terminal
- Project Analysis: The growth of the Lightning Network
- Company Digests: The inside story of Coinbase internal power struggle
- Op-ed: Money 2.0 Stuff
- Token Analysis: So, is Binance Coin actually worth anything
- Profiles: Cathie Wood on The Block
Additionally, as a Genesis member, you’ll get exclusive access to:
- In-depth project, protocol, personal and company reports
- Crypto commentary by leading experts to review the week’s key happenings
- Coming Soon: A unique community conversation, led by The Block team, which is better than Crypto Twitter, Telegram or Slack
- No trolls and less noise than Crypto Twitter
- Less groupthink than your Telegram or Slack
- Special events and deals involving crypto’s best products and people
If you would like to learn more, please reach out to [email protected].