Monero (XMR) Adopts New PoW Algorithm to Fight Off ASICs – Bitcoinist

October 14, 2019 By admin

Monero (XMR) has to deal with the inflow of specialized ASIC machines taking over mining on its network. After several ASIC-disabling forks, which slightly tweaked the CryptoNight mining algorithm, Monero is planning to switch to an entirely different proof-of-work algorithm to remain resistant.


Monero Plans Third ASIC-Disabling Upgrade

Toward the end of October, Monero plans an upgrade that will make the network once again easy enough to mine with CPU. The change will do away with CryptoNight and introduce the RandomX algorithm.

The Monero network shifted away from ASIC-powered mining on two occasions, in April 2018 and a year later, in the spring of 2019. For the first time, the Monero community noted a marked growth trend in mining in 2018. At first, the growth was ascribed to botnets or crypto hijacking, which harnessed multiple CPUs.

However, it turned out there were ASIC and programmable machines that could adapt to CryptoNight. After Monero disabled the ASIC, some switched to the few other coins using the same algorithm. Those include Haven Protocol (XHV), AEON (AEON), and the older Bytecoin (BCN), as well as Electroneum (ETN).

The rationale behind disabling ASIC is to return to the one CPU- one vote rule based on the Bitcoin White Paper. ASIC mining rigs are significantly more effective at mining
Source…