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The developers of privacy coin Monero have announced a new weapon in the fight against centralization. The Monero team, in partnership with serverless storage protocol Arweave, is validating a new ASIC-resistant mining algorithm, RandomX.

Monero
Outreach says the new algorithm will help prevent Monero from being controlled by a handful of mining giants. Unlike other privacy currencies like Zcash and Dash, Monero developers are committed to keeping Monero viable for CPU mining, ensuring that anyone with a computer can help secure the network .

Just like Crypto
As Briefing previously reported, developers often use hard forks to try to stay ahead of ASIC mining rig manufacturers. But these measures are only temporary and are unlikely to deter mining machine manufacturers like Bitmain.

RandomX generates a randomly varying code that cannot be efficiently solved by ASIC miners, rather than solving an aggregate function for proof of work. Therefore, computer CPU and GPU graphics card mining are still the most efficient mining equipment.

“The idea of RandomX is to require anyone who wants to build an ASIC miner for it to essentially reimplement the entire CPU, thus limiting their performance to the performance of the CPU,” Howard
Chu explained that he first developed the concept of randomly generated proof of work for Monero. “This will help everyday computer hardware mining to remain more competitive.”

Arweave’s distributed data storage technology will also benefit from new algorithms, with greater security and fewer vulnerabilities. Distributed storage protocols use blockchain-like technology to protect data without risk of deletion or censorship.

Arweave CEO Sam Williams
"ASIC-resistant authentication algorithms like RandomX will further enhance our permanent, low-cost, tamper-proof storage network," said Williams. "RandomX helps us ensure that the power of decentralized content policy is within the Arweave network. Many globally distributed aspects are well distributed.”

While it's unclear when or if the new algorithm will be implemented, developers say RandomX could provide both projects with clear advantages. “Spreading mining across many people and many computers makes cryptocurrencies hard,” said a member of the Monero core team who goes by the pseudonym binaryFate. "Monero is strong and RandomX can make it even stronger, like tempered steel."

According to a new report released by (), permanently kicking ASIC miners from the network will have some negative consequences.

Binance concludes: “Home” miners will not make a profit in Monero. This means that ASIC miners and automated mining farms may continue to appear in Monero. If the mining algorithm is available, it will take some time for developers to design an ASIC mining machine for it. The recent bull run in cryptocurrencies has also made cryptocurrency mining a more profitable product.

Since the hard fork has reduced Monero’s network computing power, Binance is worried that Monero is vulnerable to a 51% attack.