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08:12 02.12.2019
2019-12-02
Elena Grekova (Neironix)
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The Monero Network Hard Fork Became Quite Successful

The next update of the Monero cryptocurrency code took place on 30th November on the block 1979769. The developers activated the PoW algorithm RandomX. It replaced the old mining algorithm CryptoNight R.

RandomX allows one to efficiently mine cryptocurrency on video cards and processors. With its help, the Monero blockchain will become more decentralized, which will positively affect the confidentiality of transactions.

Among the main changes are:

  • The blocking time required to confirm a transaction has been reduced. Now the transfer of funds will be valid after 10 blocks.

  • No payment ID. The rejection of this identifier has increased the privacy of money transfers.

Today we already wrote about another hard fork. With the help of Istanbul, the Ethereum blockchain will take the next step towards building its 2.0 network.

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