Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Monero Forum => Privacy Coins Forum => Monero News & Updates => Topic started by: Domithra on April 20, 2018, 05:07:16 AM
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Monero activated its semi-annual hard fork on April 6, bringing a host of new upgrades. One particular Monero upgrade, though, threatens to split the network into two competing chains.
Monero earlier this year announced its intention to update its instance of the Cryptonight Proof-of-Work (PoW) mining algorithm at regular intervals to prevent mining hardware manufacturers from developing Monero-compatible Application Specific Integrated Circuit (ASIC) miners, as critics allege that these devices lead to mining centralization and threaten the network’s health.
ASIC chips maximize efficiency to such an extent that it becomes no longer profitable to mine with GPU miners, whose chips are general-purpose and use for everything from PC gaming to searching for extraterrestrial life.
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Recently, I read about the Monero rigid fork, which is being prepared on February 28, the so-called Monero rings. The developers indicate that monero cannot scale and offer their own solution to this problem. Along the way, they also want to solve some other problems of this coin. However, the developers of this fork want to remain anonymous while this is quite strange. We have recently had a alleged ethereum fork - ETCV with an anonymous team that turned out to be a common fraud.