- Monero will see an upgrade to its network, to make promote further decentralization.
- The will be replacing the Cryptonight algorithm for a new proof of work, RandomX.
The privacy-based cryptocurrency Monero, are planning to carry out a hard fork to make the network resistant to ASIC miners in an attempt to promote network decentralization.
The Cryptonight algorithm is likely to be taken out of favour for RandomX, as they are keen to keep mining centralization at bay. Additionally, Monero is developing a new proof of work (PoW) algorithm to make mining more efficient in CPUs and GPUs than ASIC miners.
Monero has for some time now been protesting the effect that miners are having on crypto networks, have been exploring ways to push out ASIC miners. The new PoW algorithm RandomX, makes it necessary for anyone who wants to be running an ASIC miner to construct it specifically for Monero and reimplement their entire CPU – something of which is not an easy process.
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