Why Has Ethereum Mining Algorithm Approval Caused Community Uproar

ProgPow is contentious Both #YesProgPow & #NoProgPow now agree its implementation will fork Ethereum Two chains Two Dais, two Makers, two Compounds, duplicates of every token on Ethereum Ball in the court of the implementors to decide Is ProgPoW worth forking over? — Ryan Sean Adams – rsa.eth (@RyanSAdams) February 27, 2020

An overwhelming 80% of respondents voted against it which aligns with results from other polls conducted earlier. Major DeFi Implications The Defiant’s Camila Russo has highlighted the pros and cons of the decision and elaborated on the impact it will have on decentralized finance. On the plus side it reduces mining centralization and increases the number of miners able to work on the network. It also improves security by reducing incentives to attack the network by dropping dependence on ASIC hardware which is network specific. On the negative side there is not enough support for ProgPoW to warrant a hard fork. There is also concern that Ethereum governance was captured by those who have a vested interest in favoring GPU mining. Finally the change is a massive distraction from more important issues such as the transition to proof of stack with ETH 2.0. DeFi itself could split with some projects selecting the new chain over the old one which would dilute the entire ecosystem and make it more fragmented. Russo concludes that the decision may be a test on whether non-core Ethereum developers and the wider community can sway governance decisions. As RSA asked; would a hard fork resulting in two blockchains, two Dais, two Makers, two Compounds, duplicates of every token on Ethereum really be worth it? Is ProgPow a good upgrade for Ethereum? Add your views below.

source: https://bitcoinist.com/why-has-ethereum-mining-algorithm-approval-caused-community-uproar/

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