April 23, 2024

The Monero network hosted a hard fork with the activation of the RandomX PoW algorithm

The developers of the privacy-oriented cryptocurrency Monero held on November 30videoconferences reported a successful hard fork on block 1978433.

Its main feature was the activation of a newRandomX algorithm, which replaced the previous Proof-of-Work-algorithm CryptoNight R. Now mining operations can be effectively carried out on video cards and processors. This, the developers are sure, can increase the level of decentralization of the Monero network, as well as remove FPGA and ASIC devices from the network.

Other innovations:

  • Opt out of long payment identifiers(payment ID) in order to increase privacy and improve user experience.
  • Output Requirement Changes. Transactions now require at least two exits.
  • Change lock time requirements. Now, at the protocol level, incoming transactions will be valid after 10 blocks (approximately 20 minutes).

According to the Crypto Mining Blog, in the current conditions, the AMD Ryzen 5 3600 processor produces a hash rate of 6 KH / s, allowing you to mine about 0.019 XMR per day (about $ 1 at the current rate).

One of the main problems of Monero has historically been hidden mining, and it is the transition to RandomX, which was announced in May this year, is designed to make it difficult.