MoneroClassic (XMC): For Or Against ASIC Mining Original Monero Chain?


A Monero user called PZ has recently announced on an open letter that, like Litecoin and Bitcoin, Monero would change its algorithm, which could cause a fork in the community. This Monero user, was also an early Bitcoin evangelist, has written an open letter to the Monero community for the continuation of the “Monero Classic”.

The main reason stated in the open letter for the change was because companies like BITMAIN and PinIdea are mining Monero and this change could help them. PZ is against this move because it will increase the centralization of the system.

Not only that, but centralization also makes the whole network less secure, PZ explains, because big mining companies can easily be attacked by DDoS attacks, for instance, or hacked, while a decentralized network has no risk of that happening. So, in the name of the Monero ideal, PZ is inviting the users to vote against the algorithm change.

Will Monero Classic exist or Monero will continue to be the only one? Only time will tell.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide