The Monero (XMR) network has been successfully upgraded to RandomX, a new mining algorithm that aims to be ASIC-resistant.

On Nov. thirty, the Monero customs workgroup did a live stream on YouTube in which the upgrade took place at around the 58 minute mark. The new upgrade also introduced proof-of-work (Prisoner of war) algorithm, RandomX, which uses random code execution together with retentivity-focussed techniques to be resistant to application-specific integrated circuits (ASIC) — devices optimized for professional mining operations.

The upgrade is as well reportedly optimized for general-purpose central processing units (CPU) in order to make the network more decentralized. Equally a result, those who wish to use graphics processing units (GPU) to mine Monero might discover it more hard to practice so.

The Monero team believes that ASIC machines accept a centralizing effect every bit at that place are only a few companies in the world that are able to manufacture them.

However, others have claimed the exact opposite. Bran Cohen, best known equally writer of the peer-to-peer (P2P) BitTorrent protocol, recently said that ASIC-resistant Pow is both a piping dream and a bad idea. Cohen added that it is a much better thought to be ASIC-friendly, because "ASIC resistance but creates more centralization around manufacture when it inevitably fails."

Ethereum co-founder Vitalik Buterin echoed like sentiments when he said that at that place is a growing consensus that ASIC-resistant algorithms have a limited lifespan and ASIC resistance ultimately makes 51% attacks cheaper.

Crypto exchanges delist Monero due to money laundering concerns

Poland-based cryptocurrency commutation BitBay announced in November that it volition delist the privacy-centric cryptocurrency Monero on Feb. 19, 2022 due to coin laundering concerns. The exchange explained:

"Monero (XMR) can selectively utilize anonymity features among projects. This feature of XMR is a bailiwick to end of transaction support. The conclusion was made to cake the possibility of money laundering and inflow from external networks."

In September, major cryptocurrency commutation OKEx also delisted Monero and a slew of other privacy-oriented coins including Nuance (DASH), and Zcash (ZEC), amongst others.