Monroe (XMR) had to face the problem of ASIC mining machines "invading" their networks. After a few forks, Monroe's mining algorithm CryptoNight was adjusted to disable the ASIC function. Today, Monroe plans to switch to a completely different PoW algorithm to maintain its ASIC resistance.
Monroe plans to anti-ASIC upgrade for the third time
Monroe plans to upgrade at the end of this month to enable the network to use the CPU for mining again. This upgrade will completely eliminate CryptoNight and introduce the RandomX algorithm.
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Jordan Clifford, a cryptocurrency enthusiast, said that Monroe's initial choice for CryptoNight was that it was more difficult to create an ASIC mine for this algorithm. However, it is not. The Monroe team is currently preparing to launch RandomX, which uses current blocks and data from key blocks (every 2048 blocks) to generate a set of random programs and inputs that need to be executed together. The output of the program is then entered into Blake2 to produce the final hash result.
In the spring of April 2018 and the spring of 2019, Monroe Network had prevented ASIC mining twice. In 2018, the Monroe community first noted the significant growth trend of the currency mining. At first, some people thought that this was caused by botnet or password hijacking.
However, it turns out that there are some ASIC miners and programmable machines that can adapt to the CryptoNight algorithm. After Monroe disabled the ASIC, some people switched to other currencies using the same algorithm, including Haven Protocol, AEON, Bytecoin, and Electroneum.
The reason for disabling the ASIC is that it goes back to a CPU-vote rule based on the Bitcoin white paper. ASIC miners are much more efficient than CPUs in mining and may result in a small number of people controlling the network. Not only does this create a more centralized network, but because ASIC equipment is usually more expensive, it also prevents miners with lower incomes from participating.
For fear that anti-ASIC algorithms may lead to botnets, Clifford said that RandomX requires a lot of RAM to operate efficiently, and because of the large amount of RAM required, administrators can easily detect related activities.
Is ASIC really an enemy?
However, not all projects keep ASICs out. Ethereum decided not to split it. Other projects, such as Siacoin's decision to use a specific anti-ASIC solution to disable BitZin's mining machine, but also support the founder's mining brand Obelisk.
Proponents of ASIC mining machines believe that large-scale mining operations can make cryptocurrency safer. CPU mining efficiency is low, and in the case of Monroe, it may lead to illegal mining.
From the perspective of market prices, XMR has experienced a difficult period. The recent anti-ASIC fork is considered a blow to the project and it is expected that Monroe mining will face another test. The past few forks did not mean that the Monroe project came to an end, but caused it to lose its advantage in mining. At the same time, currencies such as Bitcoin have a significant advantage in the mining industry, and even Liteco mining is becoming more active.
As of press time, the XMR price was $52.94, and its highest ever reached $1,000. The anonymity of XMR is no longer a selling point, as most exchanges need to be anonymized and transparent after the new FATF measures are introduced, and many exchanges in Japan and South Korea no longer support anonymous currency.