Ethereum update: In times like these mining centralization will become a big issue
With prices dumping, Ethereum mining will become extremely centralized and if the prices fell another 50% you’d almost certainly only have ASIC miners (that are mining at a profit) left to mine.
The dire situation with ASICs though is that the E3 is not the “real” ASIC out there. It’s the Gen2 & 3 that’s running in manufacturers data centers, and there’s thousands of it.
So either fork to something like ProgPOW, where ASICs can’t be more than 1.2x efficient than GPUs by design or risk Ethereum becoming Bitmainereum or Innosilereum.
There was a highly ignored EIP 1057/1058 with a lot of positive feedback from the community but devs almost never talked about it in public or not that I’ve seen. I don’t know why.
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.
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