Ethereum core developer Hudson Jameson announced that a third-party audit of the Application Specific Integrated Circuit-resistant proof-of-work algorithm ProgPoW has been funded.
The dev made the announcement during the latest bi-weekly Ethereum core developer meeting held on April 26.
During the call, it was specified that the targeted funding amount of 50,000 units of decentralized, Ethereum-based USD-pegged stablecoin DAI had been reached.
The funds were reportedly crowd-sourced through donations.
Jameson noted that the audit is set to begin "This week or next week hopefully."
ASIC refers to mining hardware that uses single-purpose chips, which are tailored to more efficiently mine cryptocurrency based on a specific hashing algorithm.
Set-ups that use graphics processing units are less specialized, and have therefore to date struggled to compete for rewards on the network with those that deploy ASICs.
ProgPoW aims to decrease the efficiency advantage of ASICs over GPUs.
As Cointelegraph reported in February, after having first approved ProgPoW's implementation, core developers changed their mind and delayed the decision until a third-party audit was completed.
A recent Cointelegraph analysis uncovered that as of lately, stablecoin DAI has been struggling to keep its peg, but its proponents apparently believe that it will soon become crypto's default stablecoin.
Ethereum Core Devs: Funding for ProgPoW 3rd-Party Audit Approved
Publicado en Apr 28, 2019
by Cointele | Publicado en Coinage
Coinage
Mencionado en este artÃculo
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.