While some users continue to use the Monero's pre-hard fork Blockchain, other projects exist in parallel, namely: the Monero Classic (XMC), the Monero 0 (XMZ), the Monero Original (XMO)and another project called Monero Classic (XMC), (called Monero-Classic throughout this article - with a dash "-").
Here follows the hard fork story of the Monero Blockchain as well as these four projects keeping him alive.
The hard fork
A hard fork of the Monero seems triggered every six months. The last fork has introduced many additional features, giving it some advantages . In particular, it allows much more private and important transactions, multi-signature transactions and support for the initial hardware of Ledger Nano S, etc.
As for the last hard fork, he launched a tweak within the crypto-currency CryptoNigh CryptoNigh (POW) hash algorithm. This change renders the ASIC miners useless.
The developers of Monero and his community have come together to agree on the change. At the origin of this action, there were some risks incurred due to ASIC mining. However, Bitmain, Halong Mining and Pinldea did not like this consensus. They have recently announced the development of new ASIC machines for the CryptoNight hash algorithm - material that has become worthless once the Monero hardfork is activated.
Recently, four projects have volunteered to use the Monero pre-hard fork protocol.
The fork is a fork of the software. As this picture shows
The Monero Classic (XMC)
The first version of Monero, the Monero Classic, was initiated by a group identifying themselves as fans of the cryptocurrency of Singapore. Some important personalities supported the project, including Bento Tan.Bento announced at the time:
"The ability to make choices promotes competition and stimulates growth. We must look at things at this level. One-sided control is a suffocating death because you eliminate the need to improve and innovate. "He considers that this healthy market dynamic is confirmed by the fact that three different manufacturers have created ASICs.
On the Monero Classic website, we can read:
The main message of the Monero Classic is that we believe that developers who modify proof of work (POW), create more centralization and undermine decentralization. "[...]" The Monero developers say they can and will change the rules of consensus as they see fit, the community seems to be conditioned to follow the wishes of the developers.The Monero Classic is different from the other new Monero projects, says Tan, he has no intention of collaborating with them.
The Monero-Classic (XMC)
The one behind the Monero-Classic identifies himself as "PZ, a former Bitcoin evangelist and an eco-builder Blockchain," according to this site.Unlike the Monero Classic, PZ pointed out: "The emergence of specialized mining machines for cryptocurrency is a normal market economy phenomenon. " In addition, " if there are professional mining machinery, malicious attacks against the Monero could be avoided. "
The Monero 0 (XMZ)
The group of developers of Monero 0 identifies themselves as "concerned users" and "proven maximists. "
On the project site Monero 0 you can read:
We decided that the Monero project's strategy of continually forging a fork is no longer a stable or healthy strategy. We believe that Satoshi's proof of work is the only decentralized consensus mechanism. The so-called network upgrades that are centrally mandated by the Monero project represent a Trojan horse designed to compromise the Monero. Monero 0 is not a fork; it's the Monero Original.The Monero is "an NVDA project," and " proof of the fork is not a consensual method. " Bitmain " is trying to destroy the Monero, " said the spokesman for Monero 0.
The Original Monero (XMO)
The Monero Original lets the mystery operate around him . No information about its developers could reach the media.
On the project GitHub we can read:
Monero has always talked about freedom of choice, diversity and the strong community behind it. We offer fans of Monero the opportunity to support iconic cryptocurrency and stay on the original channel. The Monero Original team is synonymous with diversity, which is a logical marker of evolution. We are excited to see our favorite cryptocurrency maturing, and we are even happier to maintain that diversity.What do you think of the four new Monero projects? Do you have a preference between alternatives based on the same network? Comment in the comments section below.
Posted from my blog with SteemPress : https://infos.link/moneros-hard-fork-creates-4-new-monero-based-cryptocurrencies/