Categories: EthereumNews

Another blow to Bitmain, Ethereum Developers Tentatively Agree To Algorithm Blocking ASIC

Ethereum’s open source development community have tentatively agreed to an algorithm which will block ASIC. Hence specialised cryptocurrency mining hardware will be blocked, while only GPU hardware will be allowed. The code change is called ‘ProgPoW.’

According to the security lead of Ethereum, Martin Holst Swende the switch will help Ethereum’s switch to proof-of-stake. If completely agreed upon it will hurt the likes of Bitmain which have a range of ASIC mining products.

The implementation of ProgPoW looks almost certain as per the communications officer of Ethereum, Hudson Jameson. He disclosed that unless there is a problem when testing, the blocking of ASICs will take place.

PropPoW’s implementation is still not confirmed, and will most probably be discussed in the next developer call on January 18th.

Su Zhu, the CEO and CIO of Three Arrows Capital, stressed the need for ASIC blocking for core development governance. However Twitter user Nic Carter explained that it gives rise to lobbyists.

Blockmanity’s Take


Ethereum has a lot going on for the first quarter of 2019. The most awaited upgrade is Constantinople which will be Ethereum’s fifth major upgrade. Constantinople is aiming to delay the difficulty bomb along with reducing the mining reward from 3 ETH to 2 ETH per block. It is said to take place at around 7 AM UTC on January 16th, 2019.

At the time of writing, it is noted that Ethereum has finally regained its second position from Ripple. It currently has a market capitalisation of $16,454,495,472 while being in the green valued at $157.90.


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Amrit Mirchandani

Blockchain Lover | Hustler | Cryptocurrency Enthusiast

Share
Published by
Amrit Mirchandani

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago