No decentralization: Jihan Wu opposes ProgPoW

Co-founder and former CEO of Bitmain Jihan Wu recently announced a very interesting point of view — ASIC-miners make mining more decentralized cryptocurrencies. His position Wu explained to the blockchain conference in Chongqing.

We will remind, the theme of decentralization of mining is particularly often heard in discussions of community Ethereum. To combat usikami even developed a special algorithm ProgPoW. To most enthusiasts the opportunity to integrate the new principle of mining came to mind.

By the way, our pool 2Miners also supports ProgPoW.

What ASIC miners are better graphics cards

The main thesis of Wu — asik bring not more harm to decentralization than the video card. That is why he questioned the appropriateness of the activation ProgPoW in the Ethereum network.

Although we have already seen several algorithms, aimed at combating ASIC miners (for example, Cockoo and ProgPoW) after their activation asik will still produce cryptocurrency.

Wu also noted that the Ethereum network is already quite centralized to some extent. The two main pool — Sparkpool and Ethermine — control nearly half of Hasrat coins. Jihan even shared rumors from unconfirmed sources. According to him, the developers ProgPoW allegedly constantly warn about the creation of ProgPoW General Director of Nvidia.

I believe that ProgPoW is an attempt to achieve even greater centralization of Ethereum by eliminating from the process of mining a particular type of equipment.

Source: Bitcoinist

The transition of Broadcast to a Proof-of-Stake also does not solve the problem. Wu predicts almost complete centralization of network cryptocurrencies after PoS. And yet in the comments of the former CEO of Bitmain there is a certain amount of bias. We will remind, last year the company released a specialized ASIC miner for extraction of ETH.

To discuss the point of view of Jihan in our cryptodata. Also subscribe to news pool 2Miners.


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