- The proposed protocol ProgPOW would close the efficiency gap available to applicant ion-specific integrated circuits.
- Almost 860,000 tokens voted yes on the proposal to oppose.
The Aragon community is opposing a proposed protocol change to the Ethereum network. The protocol, dubbed ProgPOW, would close the efficiency gap available to ASICs. In October, the Aragon network introduced community voting service. The Aragon (ANT) token holders could cast their votes on a range of proposals including changes to Ethereum's mining algorithm. The proposal states:
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 thhe current mining algorithm. A "fatal flaw" is defined here as a flaw that breaks the expected functionality of Ethereum.
The Aragon project’s official twitter account posted the voting results last week. The poll favored a proposal to block changes to Ethereum’s mining algorithm. ProgPOW would alter the Ethereum network’s proof-of-work mining algorithm before the switch to a proof-of-stake model as part of the Ethereum 2.0 roll-out. Aragon utilizes Ethereum smart contracts. It is an open-source software project for creating and managing decentralized autonomous organizations (DAOs).
Almost 860,000 tokens voted yes on the proposal to oppose, while 390,000 voted no. Jorge Izquierdo, Aragon One CTO, stated in a tweet that the Aragon team will take the community’s decision seriously. At the beginning of October, Izquierdo reported that the Ethereum network’s Istanbul upgrade will break approximately 680 smart contracts on the Aragon platform. Izquierdo further said that DAOs on Aragon will not be able to receive Ether (ETH) from one another anymore:
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.