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Say what you will do with their stance, but the Monero developers are sticking to their weapons.
Over the weekend, Riccardo Spagni, chief privacy cryptocurrency manager, published Lithium Luna, the latest version of Monero’s source code. The update itself has been scheduled, but the software includes an emergency provision intended to prevent ASIC miners from operating on its network, which uses the Cryptonight Proof-of hash algorithm. -Work (PoW).
These miners – so named because they use Application Specific Integrated Circuit (ASIC) chips – maximize efficiency to the point of no longer being profitable with GPU miners, whose chips are versatile and used for everything from a PC playing in search of extraterrestrial life.
Monero had already triggered an ASIC manufacturers strike last month – especially Bitmain, based in China, which currently dominates the ASIC market – swearing in a blog to slightly alter its operating algorithm every six months to make the production XMR ASIC compatible economically unfeasible.
However, this warning shot was not as preemptive as it initially seemed, as Bitmain announced Cryptonight’s compatible Antminer X3 – the first serial-produced ASIC Cryptonight – a few weeks later.
The decision that Monero would update its hash algorithm to render Antminer X3 ineffective in the next version of the software followed shortly thereafter.
But if the decision seems to have broad community support, some are wondering whether it is wise to adopt such a hostile stance towards ASICs, especially since Monero is a favorite among Cryptocurrency botnet operators that use malware to infect and control zombie CPUs.
However, Monero’s developers did not mince their words about Bitmain, which they view as a “bad actor” based on their actions towards Bitcoin and Siacoin networks.
Therefore, they promised that if Monero’s network could end up being dominated by ASICs, they will strive to make the transition “as egalitarian as possible” to prevent centralization of the hash.
Image from Shutterstock to photo
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