According to a recent report, crypto mining giant Bitmain co-founder, Jihan Wu has reportedly stated that, contrary to popular notion, ASIC miners make blockchain networks more decentralized and not the other way around.
Bitmain Co-founder, Jihan Wu Was a Keynote Speaker at a Blockchain Event
Wu made this comment as a keynote speaker on proof-of-work and decentralization at blockchain event in Chongqing, China.
Speaking at the event, the Bitmain Co-founder, told those in attendance that he believes ASIC miners – powerful processors designed for crunching specific algorithms have little to do with centralization of blockchain network just like general purpose graphics processing units (GPUs) which were the popular option when it comes to mining cryptos some years back. .
Wu is Against Ethereum’s ProgPow Upgrade
Using the event as a platform, Wu also revealed his thoughts regarding ethereum’s ProgPow upgrade (for Progressive Proof-of-Work). The upgrade which is designed to alter Ethereum blockchain network’s mining…