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Jordan Clifford
1/ The Monero team will soon be changing its proof-of-work consensus algorithm in late October to RandomX. The Monero developer team believes that in order for the network to remain secure, ASICs must be kept off the network.
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Jordan Clifford Oct 11
Replying to @jcliff42
2/ Monero’s original consensus algorithm, CryptoKnight, was chosen due to the difficulty in creating specialized hardware for it. The theory is that specialized hardware acts as a centralizing force since there are so few players that can manufacture it.
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Jordan Clifford Oct 11
Replying to @jcliff42
3/ Over time, CryptoKnight’s defenses against ASICs were defeated. Rumors emerged that BitMain controlled a significant share of Monero’s hash rate by developing CryptoKnight ASICs. Developers alerted the community and efforts to change the hash function began.
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Jordan Clifford Oct 11
Replying to @jcliff42
4/ The Monero research team began investigating how they could design a hash function that runs more efficiently on CPUs than on specialized hardware. In the meantime, it was decided the threat required an interim solution. CryptoKnight-R (v4) is currently used.
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Jordan Clifford Oct 11
Replying to @jcliff42
5/ The team is now ready to launch RandomX. It uses the current block and data from a key block (every 2048 blocks) to produce a set of random programs and input that need to be executed together. The output from the programs is then fed into Blake2 to produce a final hash result
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Jordan Clifford Oct 11
Replying to @jcliff42
6/ Some fear that botnets can easily dominate the network when ASICs are removed. To counteract that, RandomX requires significant amounts of RAM to run most efficiently. This makes it much easier to detect by sysadmins.
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Jordan Clifford Oct 11
Replying to @fluffypony
7/ The Monero team remains steadfast in their quest to keep mining accessible and therefore resilient to takeover. summarizes his view nicely here
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MF_HODL ⚡️🍣 Oct 14
Replying to @jcliff42
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Chameleoncoin_Project Oct 15
Replying to @jcliff42
👍🏼😄
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Sagebrush Times Oct 15
Replying to @jcliff42
Mining can be for everyone who wants in, and Monero keeps proving it. 👍🏻
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MasterMind Oct 16
Replying to @jcliff42
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