The Aragon community has officially proclaimed itself against ProgPOW. ProgPOW is a proposed protocol change to the Ehereum network that would close the efficiency gap available to application-specific integrated circuits.
In a tweet on Nov. 2, the official account of the Aragon project posted voting results, showing that a proposal to block changes to Ethereum's mining algorithm had passed.
ProgPOW would change the Ethereum network's proof-of-work mining algorithm before the eventual switch to a proof-of-stake model as part of the Ethereum 2.0 roll-out.
Aragon, which is an open-source software project for creating and managing decentralized autonomous organizations, uses Ethereum smart contracts.
In October, Aragon announced its latest Aragon Network vote, where Aragon token holders were able to cast their votes on a variety of proposals, including changes to Ethereum's mining algorithm.
"ANT holders who vote 'yes' on this proposal oppose Ethereum changing its proof-of-work mining algorithm before the switch to proof-of-stake as part of the Ethereum 2.0 roll-out, unless such change is intended as an 'emergency fix' to a fatal flaw in the current mining algorithm. A 'fatal flaw' is defined here as a flaw that breaks the expected functionality of Ethereum."
The vote passed with almost 860,000 tokens voting yes on the proposal to oppose, while 390,000 voted no.
In a tweet on Nov. 3, Aragon One CTO Jorge Izquierdo said that the Aragon team will respect the community's decision and take it seriously.
At the beginning of October, Izquierdo said that the Ethereum network's Istanbul upgrade will break roughly 680 smart contracts on the Aragon platform.
Izquierdo added that DAOs on Aragon will no longer be able to receive Ether from one another, stating, "The issue we're going to have hasn't been deemed important enough for this hard fork not to happen, which from our point of view is unfortunate [but] it's a hard balance we understand."
Aragon Opposes Change to Ethereum's Mining Algorithm Before 2.0 Version
Published on Nov 4, 2019
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
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.