View this post on Hive: Big Development for GPU Miners! - Ethereum Dev call agrees to move to ProgPoW!
In mid-February 2020 Justin Sun acquired the shares in Steemit Inc and proceeded centralise the blockchain under his control, improperly using Steemit's founders stake (intended for development and decentralisation of the blockchain) and tricking exchanges into initially supporting his power grab.
After extensive efforts to resolve the dispute failed, the community revolted and formed a new, fully decentralised blockchain - Hive - without the pernicious influence of Justin Sun and his minions.
Because of Open Source licensing, Hive was legally able to duplicate all the code and content on Steem.
The vast majority of the community and decentralised applications and projects moved to Hive and Hive was listed on many cryptocurrency exchanges without having to pay the normal listing fees.
On 19 May 2020, a Steem hard fork (0.23) designed to steal the Steem from 65 accounts associated with creating Hive became public.
My position on this hard fork can be found here: https://peakd.com/hf23/@brianoflondon/letter-to-exchanges-do-not-run-steem-hard-fork-23-hf-0-23-0
This was the final straw for my involvement with Steem.
I will now post exclusively on Hive at https://peakd.com/@apshamilton/posts
All my old Steem content can also be found on Hive.
While I am obviously a big fan of Steem and thus have great respect for Delegated Proof of Stake (DPoS), I started in Crypto almost 2 years ago as a GPU Proof of Work (PoW) miner of Ethereum and ZCash. However, over time ASICs have eaten away at the profitability and decentralisation of even the most ASIC resistant coins like Ethereum. Indeed my first Steem post was on this topic.
There have been various attempts by coins like Monero to change the PoW algorithm regularly to keep ASICs at bay but it was not a permanent solution.
About 6 months ago I came across a fellow ex-pat Aussie, Kristy-Leigh Minehan aka "OhGodAGirl" (not on Steem) or "Miss If", who was working out a way to create a much more ASIC resistant PoW algorithm than Ethereum's current Ethash.
ASICs gain their efficiency benefits from stripping away those part of a GPU that are not used by PoW algorithms and designing specialised circuits to speed up parts of the algorithm that GPUs do inefficiently.
The idea of Kirsty's Programable Proof of Work "ProgPoW" was to design an algorithm that used all or almost all parts of common GPUs and did so using math that ran most efficiently on the GPUs architecture. More details are on their Github here
Thus making common GPUs actually the most efficient ASICs for the ProgPoW algorithm.
She and a team of devs have been pushing for this within the Ethereum commmunity for many months now and on Friday, the Ethereum Core Dev call agreed to go forward with a change to ProgPoW within 2-4 months. You can find the discussion re ProgPoW from around 46min to 1:25 min video below.
This is a huge development as it puts GPUs back in the game again and reverses the creeping centralisation created by ASICs.
It also shows Ethereum being responsive in a well thought out way to the threat posed to its roadmap by ASICs.
It is likely that many other coins will follow Ethereum's lead.
I'm looking forward to a GPU mining revival.
That’s indeed a very good new!
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Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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Perhaps this will bring nVidia's share price back to life.
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Hi @apshamilton!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 4.084 which ranks you at #3334 across all Steem accounts.
Your rank has dropped 8 places in the last three days (old rank 3326).
In our last Algorithmic Curation Round, consisting of 238 contributions, your post is ranked at #63.
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by apshamilton from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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