Is NVIDIA Looking to Control the Ethereum Network? Here’s the Problem Regarding ProgPoW
It has been recently revealed that NVIDIA secretly influenced the development of “ProgPoW”, however, there are many allegations regarding it as well reports Decrypt.
In particular, the accusers are claiming that ProgPoW was built specifically to support NVIDIA’s GPUS. The problem that arises from this is that Ethereum miners will then have to rely on NVIDIA, with the latter possibly taking control over the Ethereum network.
The need for ProgPoW stems from the fact that over the course of years, application-specific integrated circuits (ASICs) have outnumbered the usual use of graphic processing units (GPUs). Unfortunately, those who have been sticking to GPUs were no longer able to mine given the rise in ASIC. Hence, comes ProgPoW, which ensures that miners can make some form of money.
Commenting on this is Kristy-Leigh Minehan, deemed the ProgPoW architect, who has since dismissed the accusations made. She also left her position at Core Scientific, who supposedly commented otherwise. According to the claims made, Core Scientific has been linked to NVIDIA and possibly Calvin Ayre.
What does this Upgrade Mean for NIVIDIA?
Obviously, it would imply an increase in sales in their specific GPUs, but interestingly, at the expense of ASICs and GPUs of its competitor, AMD. This implies that the NVIDIA is trying to secure the company’s monopoly over the network.
Turns out that the connection between Core Scientific and NVIDIA is that the latter is supposed to provide artificial intelligence GPUs that can be adapted to mine either, writes the news outlet. The duo has also come together in Core Scientific’s incubator program, which according to the President of ASICshack LLC, Alexander Levin, involves the sharing of ProgPoW-ready mining technology.
As per Levin, ProgPoW’s other creators, Def and Else have been getting paid by NVIDIA. He also accused Minehan as being a “NVIDIA patsy”. However, Minehan affirms that they were changed to dishonestly convict her.
The Chief Administrative Officer of Core Scientific, Matthew Bishop has since denied the connection established above, adding that he doesn’t even know what ProgPoW is and that his clients have not been affected by the proposed Ethereum algorithm change.
Minehan noted that the aforementioned is false, adding that a connection was established. According to the architect, the AI GPUs would help generate a bit of profit from crypto mining, but for sure will positively impact the duo’s GPU sales.
As for Def and Else, Minehan affirmed that it is not true, adding that that the ProgPoW does not favor NVIDIA’s chips over its competitor, AMD. That said, the architect has had links with both NVIDIA and AMD. She said:
“I have worked very closely with NVIDIA and AMD for the majority of my professional life […] NVIDIA keeps an eye very closely on the GPU market.”
As for Calvin Ayre’s role in all this, it has been found that both the CEO of Core Scientific, Kevin Turner, the former and Craig Wright serve on the advisory board for Squire Mining. Apparently, months later, Squire signed a binding letter of intent to Core Scientific to host 41,166 Bitcoin SV compatible ASIC devices. The news outlet questioned whether this was the doings of Calvin Ayre – that way all control over ProgPoW rests in the hands of CoinGeek.
Ethereum Classic’s Cooperative Executive Director, Bob Summerwill has been very vocal about the aforementioned connection arguing that CoinGeek is planning to be NVIDIA’s primary purchaser once ProgPoW is ready. Surprisingly, he affirms that Minehan also has connections with CoinGeek and BSV.
This is what a spokesperson from CoinGeek had to say:
“I can say with some authority that this is a conspiracy theory nonsense.”
Then there’s Minehan who denies everything and while Craig Wright did not comment on the matters, he previously described ProgPoW as being, “dumb as f*ck”.