Saturday, September 28, 2021

Ethereum Fight Surrounding Prog Pow, NVIDIA Expands

Is Ethereum all it claims to be, or is there something ugly brewing underneath the surface?

Ethereum: the Fight Wages On

Many Ethereum miners are being accused of harassment following a dispute involving NVIDIA, which several critics claim is trying to “undermine” the Ethereum network. Some believe that the accusations floating about are valid and should be looked at, while others say Ethereum is the victim of a potential scheme that’s trying to knock it aside.

Prog Pow is an upgrade that exists on the Ethereum network that potentially boosts demands for cheap GPU mining products. Many are accusing NVIDIA of influencing this update to try and increase business for itself. The company sells the kinds of chips that are likely to become ideal for miners granted the update goes through, and many believe that NVIDIA is working to create some sort of monopoly in the mining space.

Kristy-Leigh Minehan, the primary executive behind the Prog Pow update and the former CTO of Core Scientific, denies these accusations. Considering she was disinvited from a speaking event due to her purported ties to Craig Wright - the Australian bitcoin developer who was recently ordered to hand over $9 billion in bitcoin units to the family of Dave Kleiman - some are not likely to take her word seriously.

In addition, Minehan has seemingly resigned from her post with Core Scientific, which many critics see as a “guilty maneuver” of sorts. The company allegedly shares ties with NVIDIA, which some believe leads to a conflict of interest.

Ameen Soleimani, CEO of crypto adult entertainment platform Spank Chain, believes that Core Scientific has a lot to do with the situation. They’re just refusing to disclose the details. Soleimani says:

[It] seems likely that Prog Pow is a Trojan horse for Core Scientific to take advantage of hardware they already have setup, which means it could be even worse in terms of centralization than not doing it.

One of the primary conspiracy theories meandering throughout the space involves Core Scientific’s alleged ties to Calvin Ayre, a billionaire and gambling mogul who backs bitcoin SV, the “brainchild” of Craig Wright and the resulting coin of the late 2018 bitcoin cash hard fork. Some state that Ayre is secretly pulling the strings of the operation.

Some have also looked at Minehan’s connection with the failed mining venture Mineority, which allegedly promised its miners huge returns that never came about. In addition, the company was hit with several customer complaints that were reportedly never dealt with.

We Didn’t Do Anything…

Minehan denies that Mineority was involved in any wrongdoing, saying:

You have all these people saying they worked for Mineority or were proper legal employees but won’t be able to show employment. They refused to be employees… They never wanted to sign a contract.

The post Ethereum Fight Surrounding Prog Pow, NVIDIA Expands appeared first on Live Bitcoin News.

Ethereum Fight Surrounding Prog Pow, NVIDIA Expands

Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.

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