Monero Implements Hard Fork, Including New ASIC-Resistant Mining Algorithm
Joeri Cant's original article for cointelegraph.com reduced by 55%
The Monero network has been successfully upgraded to RandomX, a new mining algorithm that aims to be ASIC-resistant. On Nov. 30, the Monero community workgroup did a live stream on YouTube in which the upgrade took place at around the 58 minute mark.
The new upgrade also introduced proof-of-work algorithm, RandomX, which uses random code execution together with memory-focussed techniques to be resistant to application-specific integrated circuits - devices optimized for professional mining operations. As a result, those who wish to use graphics processing units to mine Monero might find it more difficult to do so. The Monero team believes that ASIC machines have a centralizing effect as there are only a few companies in the world that are able to manufacture them.
Poland-based cryptocurrency exchange BitBay announced in November that it will delist the privacy-centric cryptocurrency Monero on Feb. 19, 2020 due to money laundering concerns. In September, major cryptocurrency exchange OKEx also delisted Monero and a slew of other privacy-oriented coins including Dash, and Zcash, among others.
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