Monero went to fork, 4 new Moneros appeared

We recently reported that Bitmain, which produces devices that use Monero to mine cryptocurrencies, will update its mining algorithm to prevent it from dominating Monero.. Yesterday the Monero developers made this update by going hard fork. With the last update, Monero was made resistant to ASIC devices to allow ordinary users to continue mining Monero.

However, this update from Monero developers was not accepted by the entire community, and the forced fork spawned four new Monero projects.. As a result of this conflict, Monero-Classic (XMC) was created in block 1546000. Monero Classic, Monero Original (XMO), and Monero 0 (XMZ) also appeared on the same block.

Monero Classic

Monero Classic has made themselves known in Singapore. Started by a group who identify as Monero enthusiasts. Speaking to Bitcoin Magazine, representative Bento Tan said he believes the development of ASICs is a healthy and market-driven process.

Tan continued, “Giving people choices encourages competition and growth.. One-sided control is suffocating because you eliminate the need to develop and innovate.”

Monero-Classic (XMC)

The person behind Monero-Classic describes himself as “PZ, early Bitcoin evangelist and Blockchain eco founder” on the project’s website. Monero-Classic, a project that supports ASIC devices, is also actively supported by Bitmain’s mining pool AntPool. In fact, it is thought that the project may be directly related to Bitmain.

Monero 0 (XMZ)

The following statements are written on the project’s website:

“Monero is constantly hard-wired. We decided that the forking strategy is no longer a stable and rational strategy.. Satoshi’s Proof of Work is the only mechanism for decentralized consensus. The so-called ‘updates’ centrally promoted by Monero are a trojan designed to compromise the effectiveness of Proof of Work on the Monero network.. Monero 0 is not a fork, it’s the original Monero.”

Monero Original (XMO)

Not much is known about what Monero Original is and who the people behind it are.

The project has a GitHub page and press releases have been sent to several news platforms. These press releases don’t reveal much, either, but one who describes himself as the lead developer of the Monero Original team said, “We’re giving Monero fans the ability to support the iconic cryptocurrency and stay on the original chain.”

HitBTC supported the Monero Original fork and announced that it will give Monero Original to those who have Monero on HitBTC.

Meanwhile, there is another long-awaited Monero fork: MoneroV. The project is expected to be implemented on April 30.