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Monero hardfork was conducted without complications

03/12/2019
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In the network, Monero passed the planned hardfork on the 1788000 block. After that, the network hashrate dropped to 96 Mh / s. At the end of last week, it exceeded 1.32 Gh / s. However, the blockchain team achieved just such a result, so we can talk about the successful solution of the task.

What happened on block 1788000

Developers sought to solve with this hardforkom only four tasks. Two of them are extremely technical in nature and slightly improve network performance. Much more important was to increase the level of protection against the "big bang attack."

A big bang attack could be due to high network load. As a result, the block size began to grow exponentially, which led to instability of the entire system.

The developers coped with this task too. But the implementation of the CryptoNight-R algorithm caused the most controversy. It completely cut off any ASIC equipment from the mining process. After that, Monero hardforks are available for mining only from computers and farms on video cards.

Why does Monero struggle with mining professionals

According to the blockchain team, until recently, more than 85% of the network hashrate was provided by ASIC equipment. This reduced the reward for the unit, and squeezed out competitors in the face of ordinary users. As a result, the risk of an “attack 51” increased, to which any blockchain is now vulnerable.

If one of the users, or some of their pool, captures more than half of the network hashrate, he gets the opportunity to make any changes convenient to the blocks. In fact, this means complete control over a short period of time.

When private users are pushed out of the mining process, the network is exposed to attackers. It remains stable only due to the consensus between users and their willingness to accept the conditions for processing information by other participants in the process. Thanks to the hardforks in the Monero network, it became possible to attract non-professional cryptocurrency miners to the mining.

Features of Monero and its main problems

Monero was originally created as a cryptocurrency with a high level of anonymity. At the moment there is almost impossible to track the transaction. And that is what attracts various criminal personalities here. Even now, up to 5% hashrate is provided by hacking mining. In certain periods, up to 20% of computers in Latin America have been infected with this virus.

Hacker mining occurs as a result of hacking into the user's computer security system. Then the device begins to use its power for the extraction of cryptocurrency, sending it to the wallets of intruders.

It is in the blockchain of Monero hacker attacks can do the most harm. However, there is no guarantee that the conducted hardfork will allow for a long time to record the results obtained. In the autumn of 2018, the team had already conducted a similar set of activities. But a week later, ASIC equipment manufacturers were able to find workaround options to solve their problem.

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