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Monero XMR algorithm has successfully switched to RandomX CPU

Date:2024-05-03 18:51:42 Channel:Crypto Read:
Monero (XMR), as a unique force in the field of cryptocurrency, has recently successfully completed an algorithm switch and entered a new era of RandomX CPU mining. This change not only triggered heated discussions in the market, but also had a profound impact on the cryptocurrency mining industry. Let’s delve deeper into this important shift and reveal the meaning and impact behind it.
Monero (XMR) has always been in the spotlight, with its emphasis on privacy and anonymity making it unique in the cryptocurrency world. The switch of the algorithm to RandomX CPU mining this time is regarded as an important turning point in its development process. The adoption of the RandomX algorithm makes Monero mining pay more attention to the computing power of the CPU rather than relying on traditional ASIC mining machines. This move not only improves the decentralization of Monero, but also gives more ordinary users the opportunity to participate in mining activities, further promoting the development of the Monero community.
As the Monero (XMR) algorithm switches to RandomX CPU mining, the market reactions are also very different. Some industry experts believe that this change will help reduce the control of the network by mining pools, increase the security and censorship resistance of the network, and thus make Monero more attractive. In addition, due to the high hardware requirements of the RandomX algorithm, traditional ASIC mining machines will not be able to continue to occupy a dominant position, which will also help reduce the concentration of mining machines and make mining more fair and decentralized.
However, some people are concerned about the change. They believe that with the popularity of CPU mining, it will lead to more energy consumption and exacerbate the impact on the environment. In addition, since CPU mining is less efficient than ASIC mining machines, this may lead to an increase in mining costs and put certain economic pressure on miners. Therefore, while Monero (XMR) is promoting technological progress, it also needs to consider how to balance the social and environmental impacts of mining.
It is undeniable that this move by Monero (XMR) has brought about changes and innovations in the industry. Through RandomX CPU mining, Monero shows the world its firm commitment to decentralization and privacy, and also points out a new path for the development of the cryptocurrency field. This technological breakthrough not only enhances Monero's core competitiveness, but also brings new thinking and inspiration to the entire cryptocurrency industry.
To sum up, the successful switch of the Monero (XMR) algorithm to RandomX CPU mining marks a new development direction and opportunity. As this change continues to advance, we believe that Monero will show even greater vitality and influence in the future, becoming a dark horse in the cryptocurrency field. Let us look forward to a brighter future for Monero!

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The planned hard fork of Monero (XMR) went through successfully, mining is now done on CPUs (mostly), with the new RandomX algorithm being used instead of CryptoNightR which was previously mined mostly by GPUs.

Currently, the Monero network has a hashrate of around 500 MH/s,
XMR has taken a lot of CPU resources away from other crypto projects that were not profitable to begin with, so as a direct result, some of these projects may become interesting to mine again as Monero takes the spotlight.

The big question at the moment is where all the GPU mining power that was dedicated to Monero will now go, as most of these are AMD mining GPUs, so it is likely that other crypto-based projects will have to deal with this extra computing power.

CryptoNight-
based projects seem to be more popular, and we have not seen any big hashrate fluctuations, which most likely means that XMR has a large number of "free" CPU miners but some are still mining the old CryptoNightR algorithm.

With the current network hashrate of about 500 MH/s the estimated daily coins I can mine with an AMD Ryzen 5 3600 CPU, about 6 KH/
s of hashrate the earnings are about 0.019 XMR at this time of mining difficulty or a little over $1 if you convert to fiat. This is better than what we earned yesterday with the same CPU mining other random small coins.

Theoretical LOKI earnings for CPU mining are slightly higher, it is the most profitable one using the RandomXL algorithm, however today things are different for LOKI too, with its current difficulty value of $1.28 after the hashrate outflow to XMR, mining loki equivalent is actually more profitable than Monero,. ArQmA
(ARQ) has also almost doubled in US dollar terms, WoWnero does not seem to be affected much in any way and remains the least attractive of the RandomX crypto pack.

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