This post is my background of why I decided to create an Ethereum Hardfork for ProgPoW before Constantinople upgrade and why it is important for future of Ethereum and ERC20 tokens, GPU mining industry so please read carefully and this is not financial advice nor endorsement to sell / buy your Ethereum or ERC20 token holdings.
Hello, I am Ikmyeong Na from developer community of Ethereum & ProgPoW and today I would like to share you a story of why I decided to create a hardfork of Ethereum and to discuss the future of Ethereum ecosystem.
Background of ProgPoW
PoW Centralization is a serious issue nowadays and it is proven that ASICs make network unsecured, helping asic manufactures manipulate the network rule and dominates the hash power for their clients and their mining factory, eventually make the network unstable and insecure. ( Recent case was Ethereum Classic, being a victim of Ethash ASIC miners )
However, ProgPoW makes commodity hardware dominate the network again, instead of allowing the minority of miners generating blocks and validating the transactions, anti-asic mining algorithms like ProgPoW maintains mining activity decentralized, aim to work ethereum network decentralized as they intended to be.
Despite the fact that ProgPoW is tended to designed for commodity hardware and disallows for minority miners to dominate or manipulate the vote, they tend to manipulate the community instead before the mainnet implements ProgPoW and goes fully decentralized again.
Harassing the intend of ProgPoW and manipulating the community, spreading fake news about ProgPoW makes the situation even worse. Before GPU miners leave the network so no one will sustain the decentralization of ethereum and allows ethereum centralized by ASIC miners, I proposed an earlier adoption of ProgPoW to Ethereum Foundation, to make ASICs obsolete befor...