Monero to Preserve Its ASIC Resistance

On Sunday,  Monero developers published a development update on PoW change and key reuse  
14 February 2018   669

The development update addressed a recurring question among altcoins that can currently be mined profitably with GPU hardware and how to respond to the threat that a mining rig manufacturer will develop an ASIC miner built to mine Cryptonight.

The Monero developers are going to protect the network’s ASIC resistance by modifying its PoW algorithm at a scheduled hard fork. The hard fork occurs two times per year. The XMR users will not notice these changes. The changes will alter the network’s hashing algorithm that Cryptonight ASIC miners will have to follow every fork.

However, if these scheduled PoW forks will not be enough to disincentivize the development of ASIC miners for Cryptonight, Monero will modify PoW algorithm at a nonscheduled fork in order to prevent any potential threat from ASICs.

According to the development update, this stance will ensure that Monero mining remains relatively democratic and decentralized at least until such time the same can be said of the ASIC mining industry. The developers believe that any transition to an ASIC-dominated network needs to be as egalitarian as possible in order to foster decentralization.

Currently, the ASIC market is dominated by Chinese manufacturer Bitmain. It means that it would be simple for governments to force companies like this to build “kill switches” into the miners or sell rigs to customers who obtain special government licenses. By contrast, GPU miners rely on general-purpose computer chips. It makes regulator’s attempt to force miners to acquire government-issued licenses impossible.

The first PoW adjustment will be implemented at the network’s next hard fork, which is currently scheduled for March.

Confirmed: Ledger Hardware Wallet to Support Monero

Riccardo Spagni, a member of Monero Core Team, confirmed that Monero will be supported in Ledger hardware wallet
12 April 2018   266

In September of 2017 we have reported about GitHub page from LedgerHQ called blue-app-monero, according to which on Monday, September 4, the process of integration of Monero in Ledger and Blue Ledger Nano S has begun. Now we can certainly say that Monero will be supported in Ledger hardware wallet, as that was confirmed by Riccardo Spagni, a member of Monero Core Team.

...We have to do a bunch of work for it and it becomes painful. We've seen it with Ledger. It has taken a year to get Monero support on Ledger and that's only really coming together now. And it is because of the amount of work and effort that is needed to go into doing that.

Riccardo Spagni

Riccardo Spagni was talking about Monero and privacy on Doug Polk Podcast on April 9, 2018. The member of Monero Core Team said that Monero is already on Ledger, and there are some commits being performed to fix a couple of small issues. He stated that the official Ledger support will go live alongside the Monero 0.12.1 release. Moreover, Riccardo Spagni said some words about Trezor support, stating that Trezor team is currently working on it.

I think that Ledger has kind of blazed the way, there is a lot of stuff that Trezor can suck in from that.

Riccardo Spagni

What is more, he stated that there is a group in Monero community that is also building a hardware wallet which is based on the Trezor's schematics. We believe that it is great news for Monero community as the privacy coin will be finally officially supported on hardware wallet Ledger.