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Cryptocurrency Ecosystem => Monero Forum => Privacy Coins Forum => Monero News & Updates => Topic started by: Goodcat49 on February 17, 2019, 05:21:43 PM

Title: Monero to Prevent ASIC Mining, Hard Fork Scheduled for March 9
Post by: Goodcat49 on February 17, 2019, 05:21:43 PM

XMR developers, and the whole team at large, are ready and in high gear to fork their network on Saturday, March 9th 2019 in order to lower the effectiveness of ASICs (application-specific integrated circuits). The hard fork might cause a change to the Monero proof-of-work (PoW) algorithm and also lower the hash rate competences of ASIC miners by a significant factor of over 2.5.

The effort is undertaken to highly reduce hash rate enabling small-scale mining activities using graphics processing units (GPUs) thus contending effectively and further making the XMR PoW systematic algorithm less ASIC-friendly.

The fork will take place at block height 1,788,000. It will see the upgrade causing significant changes to the network’s PoW algorithm by fine-tuning and adjusting the blocksize. The Monero developments will, in this case, activate the hard fork on the 0.13 branch.

Illegal Mining of XMR
The fork will eventually stall the efficiency of ASIC miners. According to Sech1, a Redditor, this new PoW algorithm will contribute to the reduction of the hash rate potentials of application-specific integrated circuits miners by an estimated factor greater than 2.5.

Once this is successfully accomplished, XMR investors will use the network without the increasing fear of ASICs producing double networks. In addition, there is another upcoming hard fork. It has been organized to occur in October this year.

Last month, as Coinidol reported, Monero was discovered to be the cryptocurrency with the biggest digital currency value that is mined maliciously – more than 4.3% of the aggregate mined supply. Cryptojacking is the main agent for XMR’s circulation supply.

Monero hopes to beat this by improving and upgrading the centralization facets of XMR miners who can be manipulated easily. The improvement is ready to enhance the relationship between Monero Core creators and its miners.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/monero-prevent-mining/

(https://coinidol.com/upload/resize_cache/iblock/c81/900_900_1/c8164a7450866de07a919001db084b04.png)

Title: Re: Monero to Prevent ASIC Mining, Hard Fork Scheduled for March 9
Post by: giovannucchi on February 17, 2019, 05:26:00 PM

Interesting action that aims to avoid centralization as happened for Bitcoin.
Keeping low hashrate Monero assures itself decentralization mining.