Monero Network Faces Hardfork
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Dec. 2, 2019

The Monero (XMR) cryptocurrency network has experienced a hardfork on block 1978433. The main feature of the update is the activation of a new RandomX PoW algorithm, which replaced the CryptoNight R.

BitBay Delists Monero

From now on, all mining operations can be effectively performed both via GPU cards or CPU processors. According to the developers, this can increase the level of decentralization of the Monero network, as well as remove FPGA and ASIC devices from the network.

The development of RandomX became known back in May, and the developers believe that this should solve the problem with Monero's hidden mining.

In addition, the hardfork led to the following changes:

  • Refusal of long payment IDs to increase privacy and improve user experience;
  • Transactions now require at least two outputs;
  • At the protocol level, incoming transactions will be valid after 10 blocks (approximately 20 minutes).

Earlier iHodl reported that OKEx Korea delisted all privacy-focused cryptocurrencies from its platform, including Monero, Dash, Zcash, Horizen, and Super Bitcoin because such currencies do not meet the requirements of the Financial Action Task Force (FATF).

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