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

  • 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.

- Advertisement -

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.

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.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Australia's Top Rated Exchange

Top Rated Cryptocurrency Payment Service

Our Partners

RocketFuel