Ethereum update: Extra Extra. ETH Core Dev colluding with ASIC manufacturer
First, Eth Core Dev Afri has meetings with the Linzhi ASIC manufacturer.
Never heard of Linzhi before? Well me neither. They don’t even seem to have a website.
First result on google is about Linzhi throwing a tamper tantrum because ProgPow has been ‘confirmed’ and so they’ll lose money.
> Linzhi is currently designing a chip for ethereum’s current mining algorithm, Ethash. Having expended > $4 million on its production, the upcoming miner claims significant advantages over former ethereum > ASIC designs.
So they’re building Eth ASICs, have no website to even sell them to the public, and are outraged that they spent 4 million dollars only to have this wasted by the incoming ProgPow replacement.
Linzhi then posts their FUD on their brand new medium account:
View story at Medium.com
Article is painting Bitmain as being dead thus apparently not a threat to ETH anymore, while conveniently leaving out the fact that Linzhi themselves are building ASICs 7x more powerfull then Bitmain; 1.4Gh/s vs 190Mh/s (https://navms.com/a-new-line-of-powerful-asic-miners-arrives-at-ethereum/)
Then their Medium FUD article is promptly tweeted out by their new buddy Afri:
Who seems to now also be arguing to scrap ProgPow, and start looking for a completely new algo. (Despite ProgPow having been ‘confirmed’ on the last dev call)
Thus leaving Etash as the current algo, allowing Linzhi to continue their operations to not let their 4 million dollars get wasted.
If an ASIC manufacturer can cause so much FUD now, how bad is it going to get when POS will be around the corner. Will they veto the Ethereum POS upgrade? They certainly could, as by then they’ll own the network if we don’t proceed with kicking ASICs out ASAP.
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.
Don’t forget to share the post if you love it !