Monero has adopted the policy to stay away from ASIC mining and continue making changes on its network to stay resistant from ASIC miners. Now they are updating their Network by going towards the RandomX Algorithm to stay resistant.
New Algorithm, RandomX
Monero has a long record for disabling ASIC-Disabling forks and now they are entirely changing the proof-of-algorithm. At the end of last month, they had decided to upgrade as well as change the algorithm from CryptoNight to RandomX. By adopting this news consensus system, the process of mining through CPU will become easy and secure.
1/ The Monero team will soon be changing its proof-of-work consensus algorithm in late October to RandomX. The Monero developer team believes that in order for the network to remain secure, ASICs must be kept off the network.
— Jordan Clifford (@jcliff42) October 11, 2019
The Network, on the record, made two attempts in the past to remain distant from ASIC-powered mining: one is done in April 2018 and the other one happened in the spring of 2019. The disabling of these forks urged the miners to move towards other coins such as AEON(AEON), Electroneum (ETN), Haven Protocol (XHV) and Bytecoin (BCN).
Reasons behind Resistance
There are many reasons why they are hindering the way of ASIC miners. As we know that ASIC machines and rigs are more expensive than normal CPU machines and not all people can afford these expensive systems. Due to the limitation to the few people, there are chances that centralization will dominate the whole process that is against the company policy.
However, most of the prominent cryptocurrencies such as Ethereum decided to resist the disabling forks as compared to XMR. And some coins such as Siacoin (SC) favor the native manufacturers rather than the miners of Bitmain.
XMR faced many difficulties for such resistance and pay in large as the recent ASIC-disabling fork had a bad effect on its value and resist its way towards counting in the topmost coins of crypto…