Altcoins

New Update by Monero is Coming up on April 6

After the much-anticipated fork of Monero – Monero V was launched recently there has been a rather stabile performance of the coin. Currently the fork is successfully active on social media and there have been no major further announcements regarding this.

However, recently there has been an important announcement by the company which was the first big news followed by the so much discussed fork that had been made earlier. According to the company leaders a new update by Monero is coming very soon. According to the official Twitter post of Monero there is a Scheduled Network Upgrade which will be launched for April 6.

So far there have been several important aspects disclosed on the new network update by the company. First of all as we would all wonder about any possibilities for this update to create a new coin, Monero was quick to announce that this new update a scheduled and consensual network upgrade which will not result a creation of a new coin by Monero. In addition, as reported by the company, there are going to be some major changes for the network after the update is successfully performed.

  1. First change will result miners to make a “mandatory” update of their mining software as PoW will be aimed on controlling any potential threat of ASICs as well as will preserve ASIC resistance.

  2. Second important change is setting the minimum ring Size to 7. In this case the pool operators will need to make sure that they use the payouts with at least 7 size rings. In case this new condition may not be satisfied the action will lead to a rejection.

Monero’s performance in the market was of course influenced by the recent market crush as many other cryptocurrencies did as well. However the fans of the coin as well as many field enthusiasts believe that this upgrade will help Monero to bring back the great previous performance in the market and even excel it.

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