November 25, 2020

Cryptheory

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Is Chain Split waiting for Ethereum? Miners rebel against PoS

1 min read
Is Chain Split waiting for Ethereum? Miners rebel against PoS

Some Ethereum users who are also benefiting from cryptocurrency rebel against the upcoming implications of ProgPow and PoS. Companies and some individuals sign a petition to oppose a new way of maintaining the network. Therefore, the question arises as to whether we will be on the cryptocurrency Ethereum Chain Split.

 

ProgPow and PoS lift the miners out of the chair

 

Chain Split is a phenomenon in which part of the community refuses to continue with the established changes and decides to maintain the old chain. Bitcoin Core and Bitcoin Cash are good examples.

 

Therefore, a new EIP 2538 proposal has emerged across the network, which is opposed to EIP 1057. It should introduce a Proof of Stake system into the network instead of Proof of Work. The decisive factor is not the computing power, but the “Hodling” of the cryptocurrency.

 

The second proposal for ProgPow works by disabling ASIC devices. That is, specially adapted cards designed directly for cryptocurrency mining. As a result, performance is centralized, rather than burdened with decentralization. The new design should eliminate these devices.

 

But today ASIC is used by anyone who wants to mine cryptocurrencies. In addition, there are rumors that the dominance of the ASIC is to be abolished so that nothing can prevent the transition to the PoS.

 

Summary

 

Ethereum is in a critical situation. Miners are still an important part of the community and if they decide to separate, it can have fatal consequences for the project.

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