The mobile based crypto coin has seen a difficulty incrrrease again as ASIC miners are back in the game
ELECRTONEUM(ETN),a cryptocurrency payments projects that targets smartphones users in the developing world,has made a unex pected u-turn in it's tech policy , deciding to allow ASIC mining again.Many Electroneum supporters were taken aback by the move,announced at the end of last week, as a few weeks ago,the team performed updates through a hard fork to disable mining by expensive ASIC equipment in favor of household mining with relatively cheaper GPU'S
Back in the spring, the Electroneum team even worked toward optimizing the code for ASIC mining. So the decision to disable mining and give advantage to small-scale operations also looked strange, but was hailed by the community. Curiously, the Electroneum hashrate has not changed significantly, but the difficulty has risen up to 100 times - resulting in a potential network slowdown. It is unknown how many ASICs are mining, or if they will continue to mine and produce enough blocks at the new difficulty level.
But now, difficulty has grown again, and apparently, some ASICs have been pointed to the network. In the meantime, the KuCoin wallet for Electroneum is in maintenance again. There is also a backlog of transactions on the mobile app.
The price of ETN remains depressed, and despite recovering by some 20% over the past week, it has slid again, down 8% overnight to $0.012. The most optimistic predictions for ETN see the coin costing a few dollars, but for now, the asset trades on very low volumes, and the lack of enthusiasm keeps the price depressed.
Read more: https://cryptovest.com/news/electroneum-etn-returns-to-asic-mining-ios-app-in-beta-testing/
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