monero hard fork
monero hard fork

AntPool Announces Monero (XMR) Hard Fork On April 6

 

One of the biggest mining pools, AntPool has officially announced the Monero hard fork that will take place on April 6, 2018, at the block height of 1546000. With a focus on mining community, the software update will involve a change in POW system to protect from ASIC threats and ring signatures.

Monero hard fork at block 1546000 on April 6

The hard fork of Monero (XMR) is finally announced by AntPool that will take place on April 6 with an aim to provide the miners with a better XMR mining platform. The focus of the hard fork is apparently the mining community as the official post by AntPool explains “respecting the choice of miners and their actual needs, and further reducing the threshold for mining, the ant mining pool team always upholds the principles of fairness and transparency, and the interests of the miners.”

 

According to the official blog post of AntPool, the XMR will be conducted on April 6, 2018, at the height of block 1546000. This software upgrade of Monero will be on the current versions i.e CLI v0.12.0.0 or GUI v0.12.0.0. However, this hard fork won’t be affecting the Monero.  

It has been mentioned that along with a hard fork they will also “produce a new digital currency (http://monero-classic.org/).” AntPool further mentioned that it will focus on the community infrastructure development of Monero.

This hard fork of software upgrade will basically make two major changes on the new blockchain. In order to curb any threat of ASIC and prevent ASIC resistance, the proof-of-work system will be upgraded.

It has also been a possibility that the minimum ring size which is 4 now will be increased to 7. Ring size is basically the total number of probable ring signers to a particular ring signature which is for the security of the network.

Also, read: TrueUSD (TUSD) Now Directly Tradeable With Tether (USDT) On Bittrex

A hard fork aimed towards monero mining community

Monero blockchain usually goes through an update every 6 months that causes a hard fork, during which new coins are generated. The community of Monero, for the most part, agrees unanimously on the fork that means the old blockchain and coin gets replaced with the new ones.

AntPool is working on the development and optimization of Monero mining pool to provide a safer and better mining platform while claiming to be “committed to the community’s infrastructure construction and build a sustainable development. And the diversity of community ecosystems.”

The coming hard fork is supported by the majority of Monero community, though there are few who don’t have the same opinion. Nevertheless, this hard fork shows that the community, as well as the development team of XMR, is constantly working on its improvement that is usually not the case with other cryptocurrencies. It is a high possibility that Monero hard fork will boost its prices!

Are you the supporter of this Monero hard fork? Or do you belong to the counter side? Do share your thoughts on the importance and effect of this hard fork on Monero!

About Casper Brown 155 Articles

I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.