Ethereum update: ETH Core Devs Meeting, Constantinople Session #1 – tomorrow 31/08/18 14:00 UTC
Livestream here: [https://www.youtube.com/watch?v=mAs3JZHroKM](https://www.youtube.com/watch?v=mAs3JZHroKM)
Agenda: [https://github.com/ethereum/pm/issues/55](https://github.com/ethereum/pm/issues/55)
This is gonna be a good one.
The Issuance issue(ah!) is clearly a delicate topic but please let’s try to remain civil in debating the various EIPs and their rationales.
Personally i’m in support of either [EIP-1234](https://github.com/ethereum/EIPs/commits/master/EIPS/eip-1234.md) or [EIP-858](https://github.com/ethereum/EIPs/commits/master/EIPS/eip-858.md) (or even a new EIP that defines a non arbitrary amount that differs from the reductions specified in the current ones, reached after carefully considering economic incentives/network security).
I like the part of [EIP-1295](https://github.com/ethereum/EIPs/commits/master/EIPS/eip-1295.md) that suggest changes to the uncles rewards(and ONLY that part) but i’m in no way qualified to assess the potential repercussions and i would like to hear the opinion of core devs/researchers.
What is clear is that we’re vastly overpaying for network security compared to btc and other cryptos, BUT we have to consider that the eth network is also providing security for all the digital assets built on top of it in the form of ERC-20/ERC-721 tokens.
Also since the latest updates in the research underpinning the new shasper protocol upgrade seem to point to an extended dev cycle and a tentative release for the first portion including Casper FFG in 2019 at the earliest i’m STRONGLY in favor of adopting and implementing [ProgPOW](https://github.com/ifdefelse/ProgPOW#progpow—a-programmatic-proof-of-work).
The rationale for ProgPOW is to fully utilize every bit of silicon in a GPU so to design an ASIC targeting ProgPoW you basically end up recreating a full GPU, achieving minimal gains in efficiency and hashrate; all of this requiring significant engineering/manufacturing resources.
The authors quote a 1.1/1.2x increase in efficiency as the maximum achievable for an ASIC targeting this revised algo:
>While a custom ASIC to implement this algorithm is still possible, the efficiency gains available are minimal. The majority of a commodity GPU is required to support the above elements. The only optimizations available are: *Remove the graphics pipeline (displays, geometry engines, texturing, etc) *Remove floating point mathThese would result in minimal, roughly 1.1-1.2x, efficiency gains. This is much less than the 2x for Ethash or 50x for Cryptonight.
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About Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Author: ZergShotgunAndYou
Score: 5
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