Ethereum’s ProgPoW Debate Is About Much More Than Mining

What do we talk about when we talk about progressive proof-of-work (ProgPoW) on Ethereum?

On the surface, ProgPoW is a proposed update to the mining algorithm of the world’s second-largest blockchain by market cap that would theoretically favor less well-resourced miners. 

At its core, though, ProgPoW has become a flashpoint for how Ethereum makes big decisions. The developers have effectively become the legislative body of the decentralized nation-state that is Ethereum. And if they make a decision that makes enough miners angry, it could split the chain (again).

The ProgPoW debate reignited on Friday, Feb. 21 in the Ethereum Core Developers call when Ethereum Improvement Proposal (EIP) 1057 – the code change involving ProgPoW – moved forward, surprising many in the greater Ethereum world, such that Vitalik Buterin himself called it "ninja re-approved." 

ProgPoW could drive a split on Ethereum if it goes forward, potentially similar to what happened after the DAO hack in 2016, which led to the creation of ethereum classic (ETC). But ethereum (and its native currency, ETH) is worth vastly more now than it was then. Much more is at stake.

The next big decision regarding ProgPoW will be made at the Ethereum Core Developers meeting on Friday at 14:00 UTC (those interested can watch it live on YouTube; we’ll be there). If the developers who preside over the blockchain decide to move ProgPoW forward, it won't happen for weeks, however. 

The current plan is to allocate a whole hour to ProgPoW, according to the final agenda for tomorrow's call, with spokespeople from both sides making their case.

Is the ProgPoW update related to Eth 2.0?

No. Definitely not.

The heart and soul of the next generation of Ethereum is proof-of-stake (PoS) and ProgPoW is all about PoW. 

But when PoS kicks in, a PoW chain will still run as a shard, for at least a couple more years. Judging by the way everything else goes on Ethereum (especially as the chain becomes more valuable) a few more years could become "many more years."

The first objection most opponents make to ProgPoW is that the imminence of Eth 2.0 mitigates the need. "That was the same excuse used in March 2018," Minehan told CoinDesk. "We cannot tie Eth 1.0 features to Eth 2.0 features. These are separate teams."

Miners will continue to earn fresh ETH on the PoW chain as long as that shard runs, but then again, they won't be as powerful. So maybe centralization wouldn't matter as much? 

Unless it would. Don't you envy the core devs?