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:
- A PoW tweak to curb any potential threat of ASICs and preserve ASIC resistance. This means miners have to compulsorily update their mining software.
- 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.”
Subscribe to AMBCrypto’s Newsletter
Facebook’s Libra hit by more accusations, Balaji Srinivasan on BTC investment and more
Crypto News – 24 June – Facebook’s Libra hit by more accusations, Balaji Srinivasan on BTC investment and more
— AMBCrypto (@CryptoAmb) June 24, 2019
Crypto News – 24 June
Erik Voorhees on Bitcoin: According to the CEO of Shapeshift, Bitcoin’s relative traceability has allowed governments to become comfortable with it
Read more at https://bit.ly/2WVviJW
Max Keiser on gold’s ‘resurgence:‘ Max Keiser made news after he stated that Bitcoin’s growing popularity as a competing store of value and millennials were responsible for gold resurfacing in the conversation about store of value assets
Read more at https://bit.ly/2Xve2zp
Tron back in the top 10: A month after CEO Justin Sun promised to get Tron back in the top 10 of the world’s largest cryptocurrencies, TRX surged by over 6% to achieve the same by overtaking Cardano
Read more at https://bit.ly/31TXekX
Bank of International Settlements on Libra: While talking about Facebook’s Libra, BIS’s report attested to the need for sound public policy, financial regulation, competition regulation, and data privacy regulation
Read more at https://bit.ly/2Fsoptu
Bitcoin short futures position on the rise: According to a Twitter user, 70% of all Bitcoin short futures position are taken by four traders
Read more at https://bit.ly/31Om4CQ
LocalBitcoins’ Russian Ruble trading charts: According to CoinDance, the weekly LocalBitcoins chart revealed that the Russian Ruble [RUB] recorded towering volumes, even after the June 1 cash-exodus announcement
Read more at https://bit.ly/2JgRWYz
Howard Chu on Monero: According to the Founder of Symas Corp., Monero was “outstripping” other projects in the space which have larger budgets, in light of the new features added to Monero
Read more at https://bit.ly/2Y8IsEQ
Subscribe to AMBCrypto’s Newsletter