Privacy-Centric Coin XMR Splits Into Four Different Monero Protocols | Technology – Bitcoin News

April 9, 2018 By admin

On April 6 the privacy-centric cryptocurrency monero (XMR) forked the protocol in order to make the digital asset’s mining ecosystem egalitarian. However, the hard fork has led to the birth of four monero-based blockchain branches all claiming to be the “original monero.”

Also read: Bitcoin’s Value to Lose $44 Billion by Year’s End, Researchers Argue

The ‘ASIC Scare’ Creates Four Separate Monero Projects

The digital currency monero (XMR) is a public blockchain network created in April of 2014. Unlike litecoin and many other altcoins, XMR is not a clone of the original bitcoin codebase. Monero was built using the Cryptonote protocol; a codebase designed by a cryptographer who called himself Nicolas van Saberhagen. Saberhagen’s proof of concept turned into a slew of Cryptonote coins that utilized the Cryptonight proof-of-work hash algorithm like bytecoin, boolberry, and monero. However, just recently the Chinese mining operation Bitmain Technologies launched its Antminer X3 series, which hashes the mining protocol Cryptonight. A few other mining manufacturers such as Halong Mining and Baikal revealed ASICs that process the algorithm as well. 

Privacy-Centric Coin XMR Splits Into Four Different Monero Protocols

In light of this situation, the monero developers and community decided it was best to hard fork the