The Monero community seems to be having a tough time with several exchanges around the world delisting the privacy coin citing the Financial Action Task Force’s [FATF] travel rule. However, the latest news comes as a respite to the community after Monero successfully upgraded its network to RandomX, as scheduled.
The Monero developers put forth the idea of a new Proof-of-Work algorithm, RandomX, that uses random code execution along with memory-hard techniques to be ASIC-resistant. The network had been undergoing several upgrades before the hard fork itself and even concluded its testing on private testnet back in September. Earlier this month, the network rolled out CLI v0.15.0.0 Carbon Chamaeleon, while urging users and exchanges to carry on the upgrade.
The Monero Community Workgroup did a live stream on YouTube shortly before the upgrade took place. The developers affirmed the upgrade that was optimized for general-purpose CPUs in order to make the network more decentralized. Riccardo Spagni aka FluffyPony, the lead maintainer of Monero, addressed the upgrade and stated in the live stream that RandomX is the way forward. However, he suggested that the community wasn’t obligated to do so and said,
“And I think this is just another checkpoint in proving that Monero is decentralized. You know, it’s just out of a very real fact pattern.”
Additionally, Monero was is in the news lately after a security warning popped up wherein CLI binaries were possibly compromised. The team affirmed that the issue was looked into. Despite the hurdles, the hard fork was successfully executed.
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Monero Outreach also confirmed the same and tweeted,
“Congratulations to the @Monero community on what appears to be a successful network upgrade! Here’s to a potential several years of an ASIC-free network. One CPU, one vote, thanks to #RandomX!”