Monero Implements Hard Forks to Enhance ASIC Resistance Amid Malware Threats

Monero Continues to Resist ASIC Mining

The Monero network is planning a hard fork at block 1788000 in response to the increasing threat posed by ASIC miners, which centralize mining operations. This ASIC-resistant fork is expected to occur around March 9, followed by another hard fork on March 10 at block height 1788720. These code updates are part of the ongoing efforts by Monero developers to make ASIC mining ineffective within their network, ensuring that mining remains accessible to individuals using only GPU or CPU miners.

"The Monero core development team believes that ASICs, typically manufactured by a few companies, represent a single point of failure—a scenario that most cryptocurrency projects want to avoid." - Brave New Coin

In the past, the cryptocurrency community has felt the impact of ASIC miners developed by mining giants, particularly in the Bitcoin network. A hard fork in April 2018 temporarily averted ASIC mining by reducing the hash rate by more than half, making it unprofitable for many ASIC miners to operate effectively.

Key Takeaways:

• Monero's hard fork is scheduled for March 9 and March 10, 2023.
• The goal is to enhance ASIC resistance and maintain mining accessibility for individual miners.

CoinHive Shuts Down Mining Operations

CoinHive, the original Monero web miner, has announced the cessation of its mining operations due to several market changes that have rendered it economically unviable. The company cited a more than 50% drop in hash rate following the last Monero hard fork and an 85% decline in the value of XMR over the past year as key factors in its decision to shut down.

CoinHive gained notoriety for its software, which allowed websites to mine Monero without users' knowledge, leading to significant public backlash and prompting security firms to develop measures against such practices. Despite its closure, the rise of Monero mining malware triggered by CoinHive has made "cryptojacking" a major threat to internet users.

Key Takeaways:

• CoinHive has ceased operations due to economic unviability.
• The shutdown follows significant declines in hash rate and Monero's market value.

New Monero Mining Malware Targets Windows Users

Trend Micro has reported a new Monero mining malware that specifically targets Windows users, with the majority of infections occurring in Asia, particularly in China, Taiwan, and Hong Kong. The malware infiltrates devices through infected websites or other malicious software, establishing an internet connection to download the latest version of itself and encrypted mining software.

This malware spreads laterally within networks, similar to the widespread Petya malware in 2018, and is activated during holidays in the affected countries to avoid detection. Users are advised to keep their devices updated with the latest software from Windows to mitigate risks.

Key Takeaways:

• New Monero mining malware is targeting Windows users, primarily in Asia.
• Infection occurs through compromised websites and spreads within networks.

Monero Price Update

The price of Monero (XMR) has increased by approximately 12% over the last month. The upcoming changes in the Monero network, including the planned hard forks, may significantly impact the price of this leading privacy-focused cryptocurrency.

Key Takeaways:

• Monero's price has risen by about 12% in the past month.
• Future network changes may influence the cryptocurrency's market performance.

Sources:

• Monero widersetzt sich weiterhin dem ASIC-Mining