{"id":8815,"date":"2018-04-07T18:01:36","date_gmt":"2018-04-07T18:01:36","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=8815"},"modified":"2018-04-07T18:02:29","modified_gmt":"2018-04-07T18:02:29","slug":"four-things-erupt-from-monero-successful-hard-fork","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/four-things-erupt-from-monero-successful-hard-fork\/","title":{"rendered":"Four Things Erupt From Monero’s Successful Hard Fork"},"content":{"rendered":"

There is no doubt that blockchain is a technology that has been disrupting the world over the last decade as it came into existence like the weirdest thing we could ever have with series of inventions and developments around the crypto verse. \u00a0Amongst the altcoins in the crypto verse disrupting the financial world with its well defined and crafted recipe is Monero<\/a>. It is regarded a fast, private, and secured decentralized cryptocurrency that \u201cconfirms transaction by distributed consensus and immutably record on the blockchain\u201d.<\/p>\n

On April 6, 2018, in an attempt to guard against ASIC miners, the cryptocurrency was hard forked. While the newly forked Monero, which lead to the creation of four different project, was forked into version 12 of its protocol, and the four new project, are still on version 11 of the altcoin\u2019s protocol.<\/p>\n

The action has been tagged to be in similitude to Ethereum and Ethereum Classic forks where both are forked differently. Albeit the four new platforms are using the same protocol, network and coin, but they use different names and logo.<\/p>\n

The Four New Projects<\/strong><\/p>\n

The new projects are Monero Classic, Monero Zero, Monero Original and the fourth, which is also referred to as Monero-Classic.<\/p>\n

\"\"<\/p>\n

Source: Bitcoin Magazine.<\/a><\/p>\n

Monero Classic<\/strong><\/p>\n

The first project is Monero classic, initiated by a group based in Singapore called \u201cMonero enthusiasts\u201d and some developers. Speaking to Bitcoin Magazine, a representative of the group, Bento Tan said the \u201cdevelopment of ASICs is a healthy\u201d one. He added that they believe that hard forking is a bigger risk than mining centralization.<\/p>\n

\u201cThe main message of Monero Classic is that we believe that the developers changing the proof of work creates more centralization and harms decentralization.\u201d And: \u201cThe M[o]nero developers are saying that they can and will change the consensus rules whenever it suits them and the community seems to be conditioned into following the wishes of the developers.\u201d<\/p>\n

Tin then said Monero classic is contrary to the hard fork, and has no connection with the other new projects.<\/p>\n

Monero-Classic (XMC)<\/strong><\/p>\n

The second project, Monero-Classic was initiated by \u201can early Bitcoin evangelist and blockchain eco builder\u201d known as PZ. Just like others, Monero-Classic remains on version 11.<\/p>\n

PZ aired that \u201cthe emergence of specialized mining machine[s] for a cryptocurrency is [a] normal market economy phenomenon,\u201d and \u201cif there are professional mining machines, the events like \u2018Monero was attacked by more than 500,000 botnets\u2019 could be avoided.\u201d<\/p>\n

What seem bewildering about the project is that many is of the opinion that Bitmain is an investor of the project because the project is being supported by Bitmain\u2019s mining pool, AntPool.<\/p>\n

Monero 0 (XMZ)<\/strong><\/p>\n

A fraternity known as \u2018concerned users\u2019 formed the project Monero 0. The group stated on their website that: \u201cWe\u2019ve decided that the Monero Project\u2019s strategy to continuously hard fork is no longer a stable or a sane strategy. We believe that Satoshi\u2019s Proof of Work is the only mechanism for decentralized consensus. The so-called \u2018network upgrades\u2019 that are centrally mandated by the Monero Project are a Trojan Horse designed to compromise the effectiveness of Proof of Work in the Monero network. Monero 0 is not a fork; it is the original Monero.\u201d<\/p>\n

Monero Original (XMO)<\/strong><\/p>\n

Of the four new forked projects, Monero\u00a0Original has less known information. It is, however, available on GitHub<\/a>. The developer behind Monero Original, in a press release stated that:<\/p>\n

\u201cMonero\u00a0has always been about freedom of choice, about diversity and about the strong community behind it. We are providing the\u00a0Monero\u00a0fans [with] a possibility to support the iconic coin and stay on the original chain.\u00a0Monero\u00a0Original team stands for diversity, which is a logical marker of evolution. We are excited to see our favourite coin mature, and we are even more excited to help [in] keeping this diversity. \u201d<\/p>\n

Interestingly for XMO project, it has gotten support from a number of markets, amongst which is HitBTC, a famous exchange platform from an unknown location operated by Hit Techs Limited.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amongst the altcoins in the crypto verse disrupting the financial world with its well defined and crafted recipe is Monero. It is regarded a fast, private, and secured decentralized cryptocurrency that \u201cconfirms transaction by distributed consensus and immutably record on the blockchain\u201d.<\/p>\n","protected":false},"author":23,"featured_media":8817,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[825],"tags":[314,637,316,1405],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/8815"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=8815"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/8815\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/8817"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=8815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=8815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=8815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}