Ethereum: a New ProgPoW algorithm is ASIC-resistant

the Constantinople, Casper – on the Ethereum block Chain is the Consensus running until further notice on the Proof-of-Work-method. However, the hitherto used Mining could be replaced-algorithm soon a ASIC-resistant Version.

By Christopher clover
On 7. January 2019TeilenFacebookTwitterLinkedInxingemail

Ethereum core developers are currently working on a Mining algorithm to make the use of specially designed for the Mining of developed Chips (ASICs) unattractive. On 4. In January, the developers discussed in a Meeting on the upcoming Updates for the Ethereum network. Among other things, a new PoW algorithm called "ProgPoW received the" green light – but no date.

ProgPoW is based on the date for the Mining of Ether used Ethash algorithm, however, differs in some (five) points from this. The ProgPoW algorithm is subject to constant change. A random number generator changed the variables of the program at a set interval (default setting: 12.5 minutes). Due to the constantly changing requirements of the use of Mining ASICs to be unattractive. ASICs have a significant performance advantage over "conventional" processors (CPUs and especially GPUs), as their architecture is tailored to a (Mining)algorithm. ProgPoW to close this gap.

Mining for everyone vs. ASIC plutocracy

Not only in the case of Ethereum, Bitcoin and other PoW Cryptocurrencies you will hear many complaints about the centralization of mining. It is, among other things, to the fact that a few Mining Pools make currencies a majority of the computing power and not ASIC-resistant Crypto. Also in the production of ASICs can be seen a centralisation. Bitmain has developed quickly to become the market leader – a little too quickly, if you Believe the rumors about an imminent wave of redundancies. ProgPoW to break the Power of the Mining monopolists, by ASICs unattractive because you don't call that provide efficiency advantage over GPUs and CPUs.

From the Meeting of the Ethereum core developer, that you followed ProgPoW. The transition to ProgPoW is probably a done deal, at Least it was during the meeting with more approval than criticism. On a fixed schedule, the developers do not want to specify, however. Finally, a transition to ProgPoW a Hard Fork is needed. Is excluded, however, that it will be already at Constantinople so far. As a more likely date, the Istanbul Hard Fork, which would be followed by eight to nine months after Constantinople.