Ethereum Core Devs: Funding for ProgPoW 3rd-Party Audit Approved
Mining hardware which utilizes processors, which are tailored based on a hashing algorithm is referred to by ASIC. Meanwhile, the set-ups which use graphics processing units (GPU) are less technical, and have therefore thus far struggled to compete for benefits on the network with people that set up ASICs.
During the call, it was specified that the targeted funding number of 50,000 units of decentralized, Ethereum-based USD-pegged stablecoin DAI had been reached. The funds have been allegedly crowd-sourced through donations.
ProgPoW intends to lower the efficiency advantage of ASICs over GPUs.
Ethereum (ETH) core programmer Hudson Jameson declared that a third-party audit of the Application Specific Integrated Circuit (ASIC)-resistant proof-of-work algorithm ProgPoW has been financed. The dev made the statement during the Ethereum core programmer meeting.
A recent Cointelegraph analysis uncovered that as of lately, stablecoin DAI has been struggling to maintain its peg, but its proponents apparently feel it will soon become crypto’s default stablecoin.
As Cointelegraph reported in February, after having first accepted ProgPoW’s execution, core developers changed their mind and postponed the decision before a third-party audit was completed.
Jameson noticed that the audit will be place to begin”this week or next week hopefully.”