Monero hard fork successful, miners rejoice

Monero's hashrate and difficulty has dropped dramatically, returning the power to the honest miner!

@CaseyLPyne
Published Tue, Apr 10 2018 12:05 AM CDT   |   Updated Tue, Nov 3 2020 11:52 AM CST

One of my favourite privacy coins has managed to stay the hand of ASIC miners- for now. In March, the Chinese company Bitmain announced they were releasing an Antminer X3, which was specifically developed to mine Monero.

Monero hard fork successful, miners rejoice | TweakTown.com

Fearing mass use of the kind of ASIC offered by Bitmain would make the network more centralized by forcing small-time miners using home PCs and other devices out, creator Riccardo Spagni said: "I will do everything in my power to help the community prevent the proliferation of centralisation-inducing ASICs on the Monero network."

And he did just that. The hashrate and difficulty has dropped dramatically over the past 48 hours. Unlike the BCH/BTC split, a new coin has not been created, this has purely been a fork to avoid ASIC miners bleeding the network. In true Spgagni style he tweeted out the fork had been successful.

Casey is the host of the podcast Crypto Talk and one of the founders of CryptoTalk.net.au. After helping people buy their first digital assets she decided she loved nothing more than speaking about and educating people on the Crypto sphere! She is a blockchain tech enthusiast, loves to game although she found it hard to move on from Quake II and believes that we are on the fringe of something very exciting so she is here to write about it!

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