Monero Switching to Proof-of-Work Algorithm in October

The privacy coin as been battling a lot of issues and criticism on thier present protocol “CryptoNight” and plans a switch to Proof-of-Work algorithm this October.

Developers in the project are forced to always hard-fork the the network every 6 months to ensure Application-Specific Integrated Circuit (ASIC) resistance by implementing small changes to CryptoNight.

This approach is widely criticised by the community for portraying a strong element of centralisation. This is one of the reason for the intended switch over to Proof-of-Work protocol.

The new Proof-of-Work protocol is in partnership with Arweave, who are expected to fund an audit of the algoorithm. Monero will implement the RandomX algorithm t replace CryptoNight if the audit is successful.

Author: CoinTick Editorial

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