Monero Hash Rate up 180% After Activating RandomX

Monero Hash Rate up 180% After Activating RandomX The cryptocurrency Monero is experiencing a rapid increase in the hash rate after a recent update, with which the RandomX Proof-of-Work algorithm was added to its protocol, aimed at reducing the efficiency of ASIC miners. According to Bitinfocharts, the Monero hash rate rose from 309 MH / s just before the November 29 upgrade to 950 MH / s by December 7. From this moment, the value decreased to 826 MH / s, however, the increase is still more than 180%. Similar information is provided by the Coinwarz portal. In addition to reducing the efficiency of ASIC mining, RandomX to a certain extent limits for GPU mining, thus opening up the possibility for cryptocurrency mining on the CPU, which is supposed to make the distribution of computing resources among miners more uniform. In addition, RandomX should complicate the lives of botnet owners due to additional memory requirements for devices on which mining is carried out. Equipment with less than 4 GB of RAM will not be used to run mining on RandomX, explains Howard Chu, the Chief Technology Officer at Symas Corp, in a recent release of Monero Talk. “It can reasonably be argued that the size of mining bots on RandomX will be lower than before.” The price of XMR continues to stagnate around the level of $50, to which it fell after another last dump in the middle of last month. Author: Marko Vidrih Grah via TradingView