Tuesday, June 25, 2019

Monero Continues Its ASIC Mining Resistance

The centralization of ASIC mining has been identified as a threat by the Monero network, and as a response to it, the network has planned a hard fork on block 1788000. With the way things are going at the moment, the ASIC resistant fork is likely to hold around March 9th after which another fork will follow it up on March 10th at block height 1788720.

Monero Team Is Not Taking Chances

The Monero team has taken measures to put a stop to the threat by planning an emergency hard fork. The team is working hard to prevent a single point of failure which ASICs represent because of their design history, which is that a few companies create them.

A Monero hard fork happened last year on April 6th which was done to hold back the ASICs for a while, but that didn’t last for long because a recent analytics report showed that majority of the network’s hash rates are directly linked to ASICs.

ASICs produce over 85 percent of the present Monero hashrate, and each machine is operating at a capacity of 128 kh/s, according to the analyst. This report was all it took to trigger the Monero core team, leading them to publish the details of a software upgrade.

What to Expect from the Hard Fork

Nothing entirely new will be introduced in the March 9th upgrade in terms of features as the main focus will be to execute “a third PoW tweak (CryptoNight-R) to curb the ASICs currently present on the network and further preserve ASIC resistance. As a result, miners will have to update their miners (i.e., mining software) as well.”

Soon after the upgrade is done, another one will be activated which will possibly hold on March 10th to solidify the changes put into effect by the preceding fork.

Windows OS Attacked By New Monero Mining Malware

There is a new Monero mining malware reportedly attacking windows users according to Trend Micro, a security and intelligence firm. The attack is currently focused on Asian countries like Taiwan, Hong Kong, and China. Also, a few cases have been identified in Italy.

The malware gets a hold of devices when they access infected websites or through other malware. Then it makes an online connection to upgrade to its newest version. Afterward, the malware starts mining Monero after downloading an encrypted coin miner software. The malware goes a step forward by connecting to some IPs to transmit data gotten from the host device.

In the last month, Monero XMR has seen a twelve percent increase in price. All eyes are on the cryptocurrency to see what changes its hard forks will have on its price and against ASICs.

Enjoyed this article?
Subscribe to our mailing list and receive the hottest news directly to your inbox!

More Articles