Monero has apparently announced their fork in the latest blog that they published.They’ve cited two reasons for the fork. The first “a PoW tweak to curb any potential threat of ASIC and preserved ASIC resistance”. And, the second to get “the minimum ring size is bumped to 7.” XMR is updating more privacy now.
Monero first drafted a sentence on ASIC resistance for their cryptocurrency in February. The post laid out a plan to swiftly react to any threat from AISCs. Especially, by modifying the PoW at every hard fork. Whenever ASIC obtained a significant majority of the network hash rate which would be moving towards centralization.
Resisting mining centralization is one of the core values of the Monero project. ASIC mining may be inevitable it continued to say.
“…any transition to an ASIC-dominated network needs to be as egalitarian as possible in order to foster decentralization”.
Monero developers concluded that they are willing to
“perform an emergency hard fork to curb any potential threat from ASIC if needed” and have proposed modifying Monera’s PoW hash twice a year during every scheduled fork.he developers’ announcement . Monero Classic has emerged as a kind of resistance coin.
MoneroClassic.org has made an official announcement that argues pursuing ASIC resistance.
“creates an alternative and more harmful form of centralization …developers are saying that they can and will change the consensus rules whenever it suits them.”
The organization has pledged to maintain the original software which follows the original rules.
So far comments on Reddit regarding the fork have been overwhelmingly in favor of the developers move.
One poster wrote that the tweak to was not only the correct move to avoid minging centralization and protect privacy but in the end a move that ensured the health of the overall cryptocurrency market.