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Monero hard fork successful, miners rejoice

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

By: Casey Pyne from Apr 10, 2018 @ 0:05 CDT

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.

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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.

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