While Bitcoin’s core developers have embraced application-specific integrated circuit devices (ASICs), computational units created for a single task, with open arms, the team behind privacy-centric cryptocurrency Monero has been more hesitant. Some argue that ASICs pose a threat to the decentralization and economic models of Proof of Work-secured blockchain networks, due to the logistics of operating such a device.
Monero’s development team would argue with that, hence why the network’s most recent upgrade sought to and succeeded in purging the aforementioned subset of XMR miners.
Monero Hashrate Plummets By 85% Following Fork
Weeks ago, Blockonomi reported that the team behind the project sought to a vise around ASICs enabled on its CryptoNight-based consensus mechanism in a hard fork. Per data from cryptocurrency analytics provider BitInfo, the blockchain upgrade, which came to pass on March 9th during block 1,788,000, succeeded in doing so.
Since the chain was forked to Boron Butterfly, as developer dEBRUYNE_1 has…