Cryptocurrency

08/03/19 09:00 UTC-4

Monero: what kind of changes hardfork will bring

Monero cryptocurrency changes after hardfork
Monero cryptocurrency changes after hardfork

HardforkHardfork
– a fundamental change in the source code, incompatible with the old protocol and the used software.Details
Monero, the thirteenth cryptocurrency in terms of capitalization, will take place on March 9th. In this article, Cryptobit Media will tell its readers what changes the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
will bring to Monero’s work.

Coin hardfork is scheduled for March 9, 2019 at the 1788,000 block. The main purpose of hardfork is to get rid of ASIC miners to avoid the centralization of coin miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
.

Interesting in the section: Basic Attention Token. Creating a coin and its features

 

Hardfork Monero – what will happen

Block №1788000 will change the cryptocurrency code, make a new payment ID and implement a new algorithm for the adaptive block size. At the same time, hardfork will not affect other cryptocurrency principles. Previously it was assumed that the next (after April 6, 2018) hardfork would change not only the principles of crypto mining, but also its main "goals".

As it was reported by the developers, at the moment they will not make any changes, except for those that are designed to eliminate the centralization of the Asic miner network. As already reported by Cryptorbit Media, the JavaScript miner for Monero, Coinhive, closed on March 8 precisely because of future changes in the blockchain of the coin.

After finding the 1788000 block, Monero will update its PoW algorithm and change the hashHash
(hashing) – a cryptographic term that means changing the input data of different sizes into the original data of a clearly defined size, using a special mathematical algorithm.Details
rate. Manipulation became necessary after the crypto mining on the GPU and CPU became ineffective. Cryptocurrency developers decided to change the blockchain so that the situation similar to Bitcoin, that is, the actual centralization of the crypto-coin acquisition, would not be repeated.

Interesting in the section: Actuality and unique of Monero

As of today, almost 87% of the hashrate in the Monero network belongs to owners of AsiсAsiс
– specialized technical equipment for mining cryptocurrency.Details
miners with throughput characteristics of 128 kh/s. Logically, this fact makes the GPU and CPU crypto-farms meaningless. This, in turn, is negatively reflected on the price of the asset and its popularity.

Changes after Monero hardfork are designed to improve its market price, popularity and positive impact on mining.

Editor: Pereyidenko Ihor

See also: "Bitcoin analytics: when the cryptocurrency returns to $ 20,000"

#cryptocurrency #blockchain #mining #cryptocurrency #mining #Monero #hardfork #blockchain

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