Monero to Preserve Its ASIC Resistance

On Sunday,  Monero developers published a development update on PoW change and key reuse  
14 February 2018   127

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.

March 2018 Cryptocurrency Forks

From this article you will find out which cryptocoins are undergoing hard forks in March 2018
22 February 2018   38

Cryptocurrencies are developing and improving, and there is a tendency that hard forks of the coins occur at newly created blocks.

A soft fork is a change to the protocol that restricts the ruleset enforced by full nodes that upgrade to enforce the soft fork rules, while a hard forkis a change to the protocol that loosens the ruleset enforced by full nodes. Hard fork is the changes to the programming of the coin that create incompatibilities between the older and newer version. 

From this article you will learn about the forks of the cryptocurrencies which occur in March 2018.

Date Cryptocurrency fork
March 1 LeviarCoin
March 1 Mooncoin
March 1 PacCoin
March 14 Monero 
March 15 Burst

March 1

LeviarCoin

LeviarCoin is a CryptoNote-based currency, which implements such features as untraceable payments, unlinkable transactions, double-spending proof, blockchain analysis resistance, egalitarian Proof of Work and adaptive limits.

Leviarcoin logo

The fork will take place on 1st of March 2018 and developers recommend not to make any transactions until that time.

Read more about the LeviarCoin hard fork 

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MoonCoin

Mooncoin is designed for micro payments with very low transaction fees. All transactions are secured by its algorithm developed over three years, and is continually fine tuned for optimum performance.

Mooncoin logo

According to the team, this fork will not include a burn of coins and this fork will not generate another coin as Bitcoin Cash fork did.

Read more about the MoonCoin hard fork 

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PacCoin

PAC is a community driven successor to Bitcoin, incorporating various improvements such as a two-tier incentivized network, known as the Masternode network. The major aim of PAC is to become the most efficient and user-friendly cryptocurrency that is available globally.

paccoin logo

At the beginning of January 2018, PacCoin has announced important dates for the community in its official Twitter account.

Read more about the PacCoin hard fork 

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March 14

MoneroV

MoneroV is a private cryptocurrency fork of the Monero blockchain. Monero is a secure, private, and untraceable cryptocurrency. It is open-source and accessible to all.

Monerov logo

A split will occur at block 1529810 when MoneroV miners will start to create blocks on the MoneroV network.

Read more about the MoneroV hard fork 

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March 15

Burst

Burst is built with the blockchain technology, meaning that transactions are secured by military-grade cryptography. Burst is ruled by its network of users and cannot be altered by governments.

Burst coin logo

The first fork of Burst coin is planned to happen around block 470 000, which will be created approximately in the middle of March.

Read more about the Burst hard fork

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Our editorial board tracks all the latest announcements, and we will add the new forks as more information comes in!