Everything you need to know about Monero’s anti-ASIC fork
A new issue has emerged in the space of cryptocurrency which is constructing ASIC resistant proof of work containing blockchains and process of hard-working in order to accomplish such specific ASIC fork resistance. In this article, we are going to talk about Monero’s Anti-ASIC fork in detail, which proves to be the most trending topic today.
Monero’s Worth in Market
Monero (XRM) is the best cryptocurrency or you can say it as the beloved coin in the market today and related to crypto kitties price. It’s best features which makes it unique among others are:
➢ Best Privacy Features
As compared to other coins in the market, Monero is experiencing a tough period. In 2019, Monero is known to be the most prominent privacy-focused coin which is trusted by most big giants. Now, due to its advanced capabilities, it also has a market capitalization of over 900 million USD.
This coin rates 13 in the term market cap.
Monero (XRM) has numerous advantages which makes it a sustainable place in the market today. It has an advanced team that is not a public organization which shows crypto priced. Almost most of the core contributors to Monero are anonymous. It saves people with most concerns mentioned below here. The development process of Monero is being funded by individuals from all over the world and the great case about it is its successful crowdfunded development.
Some of the best points about Monero are:
- The development team of this coin also works to strengthen the security network.
- For a very long time, Monero has no significant troubles.
- Most of the privacy coin rate Monero as the number one coin in the market which shows crypto pricing.
- Monero’s algorithm, ring signature implantation has high transaction speed which made it champion over other private transactions.
- Monero is one of the most important and leading coins which is going to launch a new hard fork named anti-ASIC algorithm.
We will discuss Monero’s Anti-ASIC hard fork in detail below. So let’s start it.
What’s about ASIC and Purpose?
Cryptocurrency is getting the highest fame these days so, everyone is in a hurry to know about Monero and ASIC fork available as cryptos prices. So, let’s briefly describe what ASIC actually is?
“ASIC chips are extensively common but useful chips that are also known for custom-developed computing devices modelled for particular blockchain or Hashing algorithm.”
Exceptionally, these chips are far more valuable than the latest commodity hardware such as CPUs and GPU’s. Forking is done in order to stave off such resistance that spoke of earlier. Generally, ASIC is referred to as an AAHF (Anti-ASIC Hard Fork), this change exists because of the mining algorithm on blockchain technology. So, as from this ASICs adapted to the old algorithm which can no longer mine effectively. Read more here.
Monero, as we all know that one of the leading private acquainted cryptocurrency which has previously launched a new weapon that will assist it to fight and defeat the conflict against centralization and information about crypto price today. New Anti-ASIC hard fork was developed in collaboration with Arweave, a serverless storage protocol. This algorithm has been named as random.
This new algorithm by Monero was developed and aimed to avoid dominance against a few mining giants. According to them,
“The idea of random is organized to compel anyone who wants to build an ASIC for it. This hard fork will help the mining process on everyday computer hardware in order to stay it more agile.”
CEO of Arwear, Sam Williams also shared some of the comments describe below;
- ASIC-resistance algorithm or RandomX will enhance your future payments and helps in low costs earning.
- random increases the power from decentralized content policies in Arwear Network which remains well distributed across all globally allocated parties to give crypto price alerts.
Facilities of Anti-ASIC Hard Fork
Primary statement for an AAFH is simple which is ASIC is going to generate results in mining centralization by pushing out the miners of commodity hardware. In order to ascertain this statement, we need to look at the capability of these ASIC miners and also correlate to commodity hardware.
Below, we are going to show respective specs about Bitmain Monero’s miner and the top line of AMD GPU miner;
❖ Bitmain X3: 220 KH/s, 550 Watts, 0.4KH/s per Watt \ Retail value: 1900$
❖ AMD HD 7990: 1.1 KH/s, 110 Watts, 0.01 KH/s per Watt \ Retail value: 900$
As you can see that Bitmain miner is 220 times more influential than that of the single top line of AMD GPU. Specifically, it has 40 times more energy required for the mining process which is best to get information about the crypto stock price. So, confusion was clear that Commodity GPUs are outclassed by these ritual miners. Another thing should we are going to quote here is there is a big jumble of GPUs exists in the world.
ASIC builders just like Bitmain may able to access combinations available on profitable mining, but they’re not actually monopolized mining. If Bitmain tries to perform an average of 51% attack, then Monero community will strongly able to fight it off by using commodity GPUs.
Let’s suppose, 0.5GH/s is accurate to measure for Bitmain ASICs total hash rate then it will expect 1.25 million AMD 400 series GPUs. By determining 150 watts of power consumption per unit and 12 cents per kilowatt-hour then we’ll get energy costs of it about 22,500$ per hour. These numbers will obviously be better if we can use a higher-end GPUs. Read more here.
Fallout for Users
Software upgrades in this fork are known to be good by nature which also explains all crypto prices. Some users will turn out by downloading a compromised version of the upgrade which may send their coins into hacker’s addresses. We can also download numbers from Monero 0 and Monero Original. These two projects hold all blockchain after Monero fork released their binaries on social sites.
Major Concerns about ASIC\AAHF
There are following concerns that should have to talk about regarding Monero’s AAHF and dash crypto price.
Firstly, the main concern which worried a lot is that the AAHF may have been unreasonable in the initial stage as the community of Monero miscalculates the total amount of hash rate that can also be produced through using evidence from commodity hardware. If the whole community of Monero had initial concerns about Bitmain abusing their powers, then they clearly do have fought back in response to hard fork.
Secondly, AAHF formulated attack vectors that could be manipulated against its users. The compatible lower hash rate can be used to 51% attack the chain, on the other hand, the software update is necessary for the hard fork which may leave users on the wrong chain or endangered them to the malware.
It still has to see how these concerns will work appropriately for Monero in the near future. But, now things have gone smoothly as the actual price of Monero has been stable for many weeks and there is no other apparent network disruption available for the user that has cryptocurrency market prices.
However, the market for most of the time has considered this AAHF to be successful and get fame also. This AAHF has opened up a battle in a war which deduces to take complete control over Monero Network.
Bitmain and other ASIC manufacturers will not be able to get underway of there is any money to be made though. Next time, when Monero talked about ASIC and its worth than these concerns may go to be revisited again.
That’s all for it. If you want to get more updates on trending topics like this then stay connected with us. Thanks for joining us.