The hashrate of Monero [XMR] witnesses a massive break

According to Bitinfocharts, Monero [XMR] one of the most important cryptocurrencies in the market and popularly known as private money, saw a significant decrease in the hashrate since the crossroads. This led to the entire Monero community to rejoice in the fall and a passionate states that "Monero won his first battle with the ASICs".

  The hashrate of Monero in the last 6 months | Source: Bitinfocharts

The hashrate of Monero in the last 6 months | Source: Bitinfocharts

On 6 April 2018 Monero was forked in Monero Original [XMO] Monero Classic [XMC] and Monero V [XMV]. The blow came because the community's main concern was that the token would become centralized.

Bitmain, the largest Bitcoin mining company and the largest ASIC chip manufacturer, has released a new product, Antminer X3. This was mainly created for the mining of Monero [XMR]. This led the community to fear that Monero would become centralized if the product had witnessed a mass adoption.

For this, Riccardo Spagni, the creator of Monero, took his revenge by pledging to "do everything in his power" to stop their proliferation. In addition, the mining company was accused of mining Monero and this was responsible for 50 – 60% hashrate during the month of April 2018

Most people agree that the Botnet were responsible for the 39; secret mining and producers would never have such activities. Cryptocurrency botnets are able to make millions of dollars for their creators by secretly infecting various devices around the world.

To prevent such resistance, Monero has implemented a new strategy called AAHF (Anti-ASIC Hard Fork), which modifies the mining algorithm on a blockchain so that ASICS tailored to the old algorithm is no longer effectively my.

A cryptocurrency fan says:

"The fork has not lowered the value of Monero, but the ASIC chains are those that are going to zero because ASIC mining does not add value to a cryptocurrency. that the GPU miners have the upper hand over the ASICs because they can adapt to any new algorithm.The ASICs must start the development process.If a currency forfeits enough, it will lose money and surrender. "

Jetrucci, a Reddit user, he said:

"I hope that other coins like btc and eth will also follow monero on this: Jihan and his band are cancers in this space."


Follow us on Telegram | Twitter | Facebook




  Ajay Narayan


Ajay Narayan is a full-time journalist at AMBCrypto. He graduated in Economics, Political Science and Sociology. His interests are inclined to write and invest in cryptocurrencies.


Source link