Ethereum community members launch petition against ProgPoW, questioning its validity

According to The Block, on February 26th, members of the Ethereum community issued a petition against the ProgPoW proposal, which is intended to replace the Ethereum algorithm and to resist Ethereum network ASIC mining.

ethereum-3660218_960_720

(Source: Pixabay )

ProgPow supporters believe that in the months before Ethereum's transition from proof-of-work (PoW) to proof-of-stake (PoS), this change will help avoid miners-led forks. In terms of computing power, ProgPoW will make specialized mining equipment run under GPU mining.

The petition and the complete list of signatories have been posted on GitHub.

The petition states:

Ethereum is a global platform with many different stakeholders, so it is essential that major changes to the agreement have a clear purpose and receive broad support. However, EIP-1057 apparently lacks this support and is still considering launching.

Signatories to the petition include Uniswap CEO and founder Hayden Adams, Truffle Suite CEO Tim Coulter, and Ethereum hedge fund DARMA Capital co-founder Andrew Kay Andrew Keys and others. They believe that this change will further divide Ethereum.

The petition also mentions:

ProgPoW's stated goal is to avoid controversial forks when transitioning to proof-of-stake, but if activation increases the likelihood of such adverse consequences, it runs counter to its goals.

Scott Lewis, co-founder of DeFi Pulse, said:

The grassroots in the Ethereum community has clearly reached a consensus that they are against the release of ProgPOW. If this is irrelevant to the Ethereum governance process, then the governance process needs to be changed.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Deep analysis of the intent behind SEC's lawsuit against Binance: a jurisdictional dispute or a show of power?

Some observers believe that the SEC may be suing Binance to compete with the Commodity Futures Trading Commission (CF...

Market

Exploring the evolution of the stablecoin market structure: Why can USDT always dominate the first place?

Stablecoin competition is an endless topic, as the industry struggles in its second decade, hoping that the market ca...

Opinion

Overview of International Cryptocurrency Regulatory Agencies

We have studied 45 countries, including G20 member countries, as well as countries with the highest adoption rate of ...

Blockchain

Futures Exchange Industry 2019 Phase II Research Report

Summary of points: 1. From January to July 2019, the volume of digital passbook futures increased significantly. The ...

Blockchain

FTX on the Brink of Bankruptcy: Decisions Await!

Fashionista, get the scoop on FTX's post-bankruptcy plans as they weigh options for a potential sale or partnership.

Blockchain

The head exchange spoiled, but who did not solve the Staking pain point?

It will seize more than 14% of the market share of the currency market, and the choice of the top 100 currencies of t...