Ethereum update: Nick Johnson(ENS & ETH core dev)now supports the ETH network switching the PoW algorithm to ProgPOW
I just want to say thank you [u/nickjohnson](https://www.reddit.com/user/nickjohnson) for keeping an open mind about this issue.
From what i recall initially you had some reservations about the need to switch from ethash to a new algo to maintain the stated goal of being ASIC resistant and were somewhat skeptical of the centralization threat posed by ASICS and the claims made by Chinese ASIC OEMs about their hashrate/efficiency figures.
I always disagreed but respected your rationale and you unique perspective,being intimately involved with the engineering and development efforts in the eth ecosystem.I always thought the part where you questioned the risk/benefit ratio and how effective it would be to dedicate significant resources to switch the PoW algo when PoS was(at the time) thought to be just around the corner was absolutely valid.
Now that PoS timelines have shifted and it’s clear that ASICs targeting ethash are contributing to a significant portion of the network’s hashrate i applaud you for revisiting your earlier stance and engaging in a discussion with the ProgPOW team,especially since they did alleviate the burden of designing a new algo and made deploying it a less onerous endeavor.
I always thought the rationale behind ProgPOW was sound:
Try 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 and time for tape-out etc.
I understand timelines for the next HF are a concern and Constantinople is basically finalized,so i don’t mind if it ends up being included in the next HF, Istanbul
I’d be interested in seeing a more in depth explanation/write up of your thoughts on this matter.
Also i hope at least *some* of the metrics you mention you had the opportunity to see privately will be made public.
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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