Bitmain’s ASIC Miners Causes Controversies Within The Monero Community

Monero Hard Fork Appears Successful As Devs Shun Bitmain’s ASIC Miners

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  • Developers decide to shun Bitmain’s ASIC Miners by changing Monero proof-of-work model.
  • This causes controversies with individuals who prefer the Bitmain’s ASIC Miners leading to a fork.

Some member of the Monero community has “declared sovereignty” against Monero devs, choosing to continue with Monero Classic – the Bitmain’s ASIC Miners-supporting legacy chain. Though there had been frequent forking of Monero – some supposedly aimed at preserving the Bitmain’s ASIC Miners-supporting legacy chain while others promised various other features and improvements, which led to the release of a number of competing tokens, which include Monero original and Monero classic – however, the recent fork is due to a new consensus algorithm proposed to protect the Monero network from the emerging Bitmain’s ASIC Miners.

Also read: Financial Conduct Authority Issues Warning Against Crypto Derivatives

Following the Bitmain’s announcement last month to release the Antminer X3, a product specially made to mine Monero, developers of the digital currency feared that using such product could make the Monero network more centralized by elimination other devices and miners using home-based computers.

Riccardo Spagni, Monero’s lead code maintainer, led the move to “do everything in his power” to stop the spread of the Antminer X3. Monero devs, therefore, upgraded the digital currency to version 7 in a bid to protect it against the Bitmain’s ASICs – a feat that seemed a success. Riccardo confirmed this through a tweet:

The exact Moneros’ hashrate is currently unknown, however, it is expected to drop as Bitmain’s ASIC Miners make their exit.

Meanwhile, Spagni in a tweet called Monero Classic “scammers,”:

A number of individuals within the crypto community are also not in support of Monero Classic. Some of these individuals posted tweets that read that Monero Classic is little more than a scam or “Monero Cash,” as agreed that the decision by Monero devs to shun the dominance of Bitmain’s ASIC Miners was a right one.

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