Yesterday, the Monero (XMR) team tweeted out that an update would be occurring on or around April 6th.
A Scheduled Network Upgrade is Planned for April 6: https://t.co/1JQwQlA5di
— Monero || #xmr (@monerocurrency) March 28, 2018
However, this probably isn’t the update that Monero fans wanted to hear. We’ve been waiting for the MoneroV (XMV) hard fork to happen, and we’re just going to have to keep waiting because this upgrade does not include MoneroV.
MoneroV was originally supposed to fork on the second week of March, but the operation was delayed, possibly due to the team not contacting exchanges fast enough to have them list it. MoneroV is most likely not going to occur until the end of April.
The most recent news from the MoneroV’s Twitter feed is about phishing attempts:
More and more phishing attempts around the fork event. DO NOT register or pay any request/form/website/DM that promises anything #MoneroV related!
— MoneroV (@monero_v) March 29, 2018
So be careful out there!
As for the actual Monero update now set for release on April 6th, it is a network upgrade that will update the PoW and minimum ring size.
The PoW is getting an upgrade to help prevent ASIC threat and to improve ASIC resistance. This means that miners are going to have to update their mining software.
The minimum ring size is getting bumped up to 7. This means that pool operators will need to ensure payouts use a minimum ring size of 7, otherwise the network will reject them.
The general reaction on Twitter to this update seems positive:
Sweet hope to see a network rate drop once those stupid asics get knocked off that im sure bitmain is running. Miners need to stand up to bitmain and tell them to stay on their already ruined algos. Eff bitmain and asics.
— Rick (@greeninferno83) March 28, 2018
Really good moves recently from monero devs. pic.twitter.com/fzjHzOleJR
— DigiSafeGuard (@DigiSafeGuard) March 28, 2018
Others, though, seem more impatient:
If you are going to announce it just call it a hardfork already
— Daniel Mussi (@damujen) March 28, 2018
However, despite the overall positive reaction, Monero is still down for today. Currently, XMR is selling for $184.30, which puts the coin down 5.21%.
What do you think?
Featured image: geralt