Ethereum ProgPow Carbon Vote Closes in 13 Days as Community Weighs In On Pegged Block 7,504,000
Despite losing some of its market share in the decentralized app (dapp) market to Tron and EOS, Ethereum remains a strong network and now the core development team of the ecosystem has decided on some new upgrades which are set to make Ethereum even better so it can defend its position in the crypto world.
On a recent Ethereum core dev meeting, the team has discussed several issues related to new updates, the road map of the ecosystem, client and research updates. The most important development was certainly around ProgPow, one of the most awaited Ethereum updates.
In case you are not familiar with ProfPow (progressive proof of work), this protocol change would make the ETH code resistant against ASIC miners. ASIC miners are specialized machines which are often faster than normal GPUs, but also more expensive.
Therefore, the main idea of the update is to block these specialized machines from the network in order to make it more decentralized and fight the centralization of the network around big players who own several ASIC miners.
The ProgPow Carbon Vote
During the meeting, a consensus was reached: there will be a carbon vote in order to decide if ProgPow should be implemented or not. Many developers pro and against this technology have spoken during the event and the decision was to let the people vote.
Now, the Ethereum community will have up to the block height 7,504,000, which will be reached in around 13 days, to vote on this decision.
For your vote to be properly counted, you have to leave ETH to signalize your vote on the right address. Lane Rettig, an ETH core dev, has explained that you cannot take your money off the address until the block is mined or your vote will not be counted. You can see more information in the official post on Reddit.
At the moment, 93% of the voters are in favor of the ProgPow implementation.
The Audit of ProgPow
It was also decided that the audits for the technology should be started soon. If ProgPow is to be a reality soon, it is important that it is audited.
You may remember the upgrade that the network was supposed to have back in January, Constantinople, which had to be delayed because the code had exploits. The dev team does not want to happen again.
At the moment, the community is trying to raise the funds in order to audit the code. If the money is not raised, there is a small but significant chance that the technology might be implemented with only in-house auditing.