Monero To Hard Fork Blockchain In March To Stifle XMR ASIC Miners
Monero are actively seeking to stifle ASICs.
After much deliberation and community outcry, the core Monero development team put their foot down, revealing that it would be imposing a ban of sorts on ASICs by changing PoW protocols multiple times a year.
Monero’s hashrate fell from 1,000 megahashes to 150 megahashes in the days after the fork.
Monero intends to replicate this success again with a recently-confirmed event of similar caliber.
If history is any indicator, the fork, slated to occur on March 9th – a mere four weeks away – Monero’s hashrate will plummet, as tweaked ASICs running the blockchain’s most recent CryptoNight iteration will become redundant for the third time in one year.
The decision to go ahead with this hard fork comes as research from MoneroCrusher, a pseudonymous industry analyst, revealed that as it stands, over 85% of current mining activity could be backed by XMR ASICs.
After some further digging, MoneroCrusher determined that the nonce pattern shown in Monero blocks over recent months indicated that a substantial number of ASICs were hashing away, procuring XMR in the process.
Nick Chong’s original article for blockonomi.com reduced by 71%
Related cryptocurrency news – New Report Highlights Increasing Decentralization Of Bitcoin Mining
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