Hancock Warned An Impending ‘Iceberg’ Approaching The Ethereum (ETH) Network

By March 11, 2020 Ethereum
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  • According to Hancock, the Ethereum (ETH) community is not looking to change or discuss the best possible way of this problem.
  • James Hancock is sure that ‘doing nothing’ will be the worst option for Ethereum (ETH) hashrate in any case, as the fall will deteriorate the security of the network

A top-level developer and hardfork coordinator of the Ethereum (ETH) network James Hancock, has cautioned future situation of Ethereum (ETH) network. The second major blockchain may hit it in April.

Hancock’s warning

On 21 February 2020, the issues with Ethereum Classic (ETC) on the very popular mining Antminer E3 were revealed by the 2Miners Pool. According to their first report, it was clear that Ethereum (ETH) would suffer the same lot.

With his warning, he is pointing towards the unresolved issues with Ethereum (ETH) and Ethereum Classic (ETC) mining on Antminer E3 devices.

This application-specific integrated circuit (ASIC) is unable to process the increased DAG file and thus will be failed to do so. Two weeks ago The Ethereum Classic (ETC) hash rate dropped by a factor of 6-7 (from 180-200 MH/s to 30 MH/s). Whereas, the same limitation will be faced by Ethereum (ETH) mining in April too.

According to Hancock, the Ethereum (ETH) community is not looking to change or discuss the best possible way of this problem. He relates some of its members hindered by the ProgPoW drama to untroubled the passengers of RMS Titanic.

Safeguard for Ethereum (ETH) mining

Tweeting the solution for this upcoming disaster, Hancock projected two possible solutions. The first one is patching Ethash’s vulnerability, the Ethereum (ETH) mining algorithm. The second is fixing the size of the DAG file by developers.

I'd like to focus on a collective understanding there is a problem, but that being said

– We can patch Ethash’s vulnerability
– Or we can fix the Dag size

There is debate around which is better, but doing nothing is the worst option.

James Hancock is sure that ‘doing nothing’ will be the worst option for Ethereum (ETH) hashrate in any case, as the fall will deteriorate the security of the network.

James Hancock is sure that ‘doing nothing’ will […]

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