A web based vote over the implementation of ProgPoW within the Ethereum (ETH) proof-of-work (PoW) algorithm reveals a majority in favor of the change, in keeping with the outcomes up to date right now, Feb. 15, on the devoted voting portal.
ProgPoW is an application-specific built-in circuit (ASIC)-resistant PoW algorithm meant to interchange ETHhash, Ethereum’s present PoW algorithm.
By defining the algorithm as ASIC-resistant, ETH builders imply that the algorithm would lower — however not eradicate — the effectivity benefit of mining utilizing ASICs over utilizing generic resembling graphics processing items (GPUs).
At press time, over 76 % (628.000 ETH, equal to over $76 million) have voted in favor of the implementation of the algorithm, whereas over 23 % (over 191.000 ETH, equal to over $23 million) voted towards it.
The voting portal states that “ether token holders are among the many people who find themselves going to be financially and economically impacted” by the choice with regard to ProgPoW. As such, the web site notes that letting ETH holders specific their positions by a vote is a extra legit type of expression than nameless feedback on on-line boards.
The election outcomes is not going to be binding, and no timeframe for ending the voting course of has been said.
After first reaching a consensus for the implementation of the algorithm in early January, the builders modified their thoughts and delayed the choice till the algorithm is audited by a 3rd social gathering in the beginning of the present month.
As Cointelegraph has reported, ProgPoW has beforehand been on the middle of controversy after an Ethereum code contributor proposed that Ethereum builders ought to embrace ASICs, whereas some members of the group instructed that the algorithm might show much less ASIC-resistant than beforehand thought.