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Monero [XMR] has a scheduled network upgrade coming up

Sthuthie Murthy



Monero [XMR] has scheduled a network upgrade coming up
Source: Wikipedia

Monero has been quiescent in the market recently after the much-anticipated fork launch, MoneroV. It is now active on social media with an announcement about a new update.

Monero Tweeted earlier:

“A Scheduled Network Upgrade is planned for April 6.”

The announcement is a scheduled and consensual network upgrade. They clarified that a new coin would not be created with this upgrade.

The upgrade is expected to happen on the Monero network around the first week of April. The upgrade will introduce two major changes:

  1. A PoW tweak to curb any potential threat of ASICs and preserve ASIC resistance. This means miners have to compulsorily update their mining software.
  2. The minimum ring Size is bumped to 7 and thus, pool operators need to make sure that payouts use a minimum ring size of 7. This might lead to a rejection otherwise.

Monero [XMR] is currently priced at $184.12 after a 6.18% fall going along with the market crash. Monero enthusiasts are hoping this upgrade will turn the value to green for XMR and bring back the momentum.

Tan Qi Ting, a Twitter user addressed Monero in his comment saying:

“We are expecting a big drop in difficulty as we are phasing out the secret ASIC miner, aren’t we? I would imagine so.”

Steve Woods, a Monero holder said:

“I am planning to throw all my hashrate at it, starting the day before so I will have a before and after comparison. I am waiting for it eagerly.”

Daniel Heshi, a blogger comments:

“Will this also prevent any botnet miner too? If you are going to announce it just call it a hardfork already.”

Ricky, a Monero enthusiast stated:

“Some really good moves from Monero’s development team recently. Sweet, hope to see a network rate drop once those stupid ASICs get knocked off that I am sure bitmain is running. Miners need to stand up to bitmain and tell them to stay on their already ruined algorithms.”

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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.


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