The Currency Analytics
By Maheen Hernandez
Ethereum Perceptions in Network Evolution changing
Varying opinions on ProgPow other than what is officially held are expressed by Ethereum Community members.
Controversy is increasing in the implementation of the Proof-of-Work (ProgPoW) proposal in the Ethereum community. Proof-of-Work was meant to replace the ETHhash.
The petition claims that there is not enough community support because Ethereum being a global platform with large and diverse group of stakeholders.
The ProgPoW was supposed to smoothen the transition of the Ethereum Network to POS. It focuses on eliminating the efficiency gap between Ethereum ASIC miners and graphics…
The petition contends the reverse: "A stated goal of ProgPoW is to avoid contentious forks while transitioning to proof-of-stake, yet it is at odds with its own aims if…
Sydney Ifergan the crypto expert tweeted: “Ethereum is planning to transit from proof-of-work consensus towards proof-of-stake following the launch of ETH 2.
By the EIP Ethereum Improvement Proposal, improvements are suggested to the Ethereum Protocol. EIP are created by the standards laid out in EIP-1.
The Core Devs, Core Researchers, App Devs, Users, Investors, and Miners are the stakeholder groups in the community.
The flow of EIP happens like Work in progress to the EIP Editors. The editors ensure there is proper formatting. This leads to the Draft EIP.
The Accepted EIP passes through client maintainers who look in to the full implementation and it passes the consensus tests and client tests.
Though it sounds easy, the entire process is hard. The Ethereum governance is not perfect and it is not easy to make it perfect.