My final request to Ethereum Foundation to ship ProgPoW with Constantinople Hardfork
Before we finalize the Constantinople Hardfork I would like to suggest to add ProgPoW along with Constantinople, and here is why we need ProgPoW without next hardfork for miners and the decentralized ethereum mainnet.
First, Anti-ASIC hardfork is needed ASAP before our network is being encroached upon ASIC manufacturers and the minority of miners.
Ethash’s ASIC vulnerability is being an issue since last summer, and it allows to manipulate the voting rule we’d agreed upon, the one GPU per one vote.
Also, these illegal ASICs can make a network vulnerable by allowing a small number of miners to censor the transactions and manipulate the ledger by executing 51% attack.
EIP-1234, an additional issuance reduction to miners will increase the chance of pushing out the commodity hardware (GPU) miners out of the network due to low profitability compared with specialized hardware for mining which is ASIC.
Second, ProgPoW is well prepared since May and ready to replace the current Ethash algorithm for banning ASICs and build a decentralized network.
ProgPoW was first proposed as an EIP on May. 2017 and it has been 7 months from the announcement of also and 3 weeks from the launch of public ProgPoW testnet, Gangnam Testnet.
Right now we have full coverage on ethereum mining with ProgPoW algorithm, including Geth, Parity, open-ethereum-pool, and Progminer ( a fork of well known Ethminer mining software for miners )
Third, now it is the last time to adopt ProgPoW, and if we miss the time, it will be impossible to switch to them since the commodity hardware will no longer be the majority hashrate of mainnet.
After we lose the majority of hash from GPU miners we might face the no-vote from ASIC miners and will eventually block ProgPoW being implemented on mainnet, make ASIC miners mining on ethereum forever.
Last, save our miners and the mining industry from being bankrupt and lose our bedrock of ethereum community.
GPU miners have been a strong bedrock of ethereum development and the growth of the ethereum community, if we lose our loyal community member ethereum will lose its reputation, losing value to hold & invest in ethereum.
Please support our miners and I hope EF can make the right decision, regarding an issue with network centralization.