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Coin Circle (120BTC.com) News: MineXMR, the largest mining pool of Monero, the leader in anonymous trading, announced the decision to close the mining pool on its homepage yesterday (7/31), calling on miners to deploy their computing power before the shutdown on 8/12 To other mining pools, miners are recommended to switch to p2pool, a decentralized mining pool with no handling fees.

Officials recommend miners move to p2pool

MineXMR Mining Pool Announcement: We regret to inform our precious miners that our mining pool will be closed on August 12th. We greatly appreciate your participation in the mining pool and your continued support. Please change your mining settings before this closing date and use another mining pool. Any miners that have not changed their settings will cease operations on August 12th, and we recommend that miners move to the decentralized p2pool mining pool. p2pool does not charge any mining pool fees, and its decentralized design can help the development of the Monero mainnet. Any block rewards remaining after the closing deadline will be automatically sent to miner wallets. Goodbye and thanks to all the blockers.

 51% attack risk temporarily eliminated

MineXMR has the highest proportion of computing power in the entire Monero network

As of press time, MineXMR still accounts for 41% of the maximum computing power of the Monero network. There is a lot of discussion in the community. Many people believe that the decision to close MineXMR is to protect the security of the main network and promote decentralization. Miners were previously worried about MineXMR. An excessively high mainnet computing power ratio (more than 50% at peak) may lead to a 51% attack. However, MineXMR did not significantly increase the miner fees. It decided to close the mining pool after many attempts to guide miners to other mining pools failed.

On the other hand, the Monero mainnet has passed the latest hard fork at block height 2,668,888 (currently block 2,679,818) and the shutdown of MineXMR may be an act to symbolize disagreement. There has been no further official statement on this.

Monero has now entered the block reward fixed stage, with a price of $155.82 at the time of writing, an increase of 32% in the past month.