Saturday, February 16, 2019

Something about ethereum&bitcoin

In governance Ethereum is far more centralized than bitcoin, they have Vitalik both as a celebrity and a spiritual leader and believe it or not they have a roadmap

IMO, a cryptocurrency with a leader,  is not reliable in the first place, but when the leader turns out to be a PoS believer in charge of a PoW coin things get even more confusing. I believe that Eth 2018 falling down 3 times worse than bitcoin has some thing to do with this fact.

Still there are good news as well: Vitalik is growing up and stepping down, well, not officially and completely but there exist signs. Most importantly, in January 5 latest Ethereum core dev meeting ended with a long-waiting admission, tentatively tho, of implementing ProgPoW as an anti-asic algorithm to retire Ethash. ProgPoW is designed to utilize gpu strengths such that it is almost impossible for asic manufacturers to build a considerably more efficient chip for mining it and not ending to to a gpu design project.

It is an important event in cryptocurrency and I think we will be witnessing a new wave of debates and discussions in bitcoin community regarding the situation with ASICs and the potentials for an anti-ASIC fork.

Hope your reply!


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