Monero (XMR) recent hardfork introduces Anti-ASIC mining algorithm
|- The Anti-ASIC mining algorithm was developed in collaboration with “Arweave.
- RandomX keeps Monero GPU-mineable while preventing ASIC Mining.
Monero, one of the leading privacy oriented cryptocurrencies has recently launched a weapon that will help it fight and defeat the war against centralization. The Anti-ASIC mining algorithm was developed in collaboration with “Arweave, a serverless storage protocol.” The ASIC-resistant mining algorithm has been given the name RandomX.
The new algorithm created by the Monero Outreach team aims at preventing dominance by the few mining giants. The team at Monero wants to ensure that Monero remains a GPU-mineable coin.
“The idea with RandomX is to require anyone who wants to build an ASIC for it to basically reimplement an entire CPU, thus constraining their performance to that of a CPU,” explained Howard Chu, who first developed the concept of a randomly generated proof of work for Monero. “It will help mining on everyday computer hardware to stay more competitive.”
The CEO at Arweave Sam Williams said in a comment:
“An ASIC-resistant proof-of-work algorithm like RandomX will further enhance our permanent, low-cost, tamper-resistant storage network,” he continued “RandomX helps us ensure that power over the decentralised content policies in the Arweave network remains well distributed across many globally distributed parties.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.