Monero (XMR), a privacy-focused cryptocurrency launched in 2014, announced that it has successfully performed a protocol upgrade on March 9, 2019.
Hard Fork Aims to Improve Monero’s Key Features
Monero (XMR) strives to differentiate itself from other cryptocurrencies by focusing on privacy and security. With the aim of enhancing these features, the Monero team has completed a network upgrade — involving about a million updates.
The scheduled protocol upgrade went successfully!
— Monero || #xmr (@monero) March 9, 2019
Specifically, Monero underwent a hard fork at block 1788000 to improve its privacy, security, and ASIC resistance by introducing four key changes to the network. Monero specified these changes as follows:
- First, some changes to the dynamic block size algorithm to fix the big bang attack.
- Second, a third PoW tweak (CryptoNight-R) to curb the ASICs currently present on the network and further preserve ASIC resistance. As a result, miners will have to update their miners (i.e., mining software) as…