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Monero Will Implement RandomX Algorithm to Combat ASIC Miners

M. Ali

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Monero-XMR-RandomX

In an effort to combat ASIC miners, Monero (XMR) will be changing its mining algorithm in late October to RandomX.

Monero is currently using CryptoKnight algorithm, which is a proof-of-work hashing algorithm originally designed by the Bytecoin and CryptoNote developer teams.

CryptoKnight algorithm was chosen by Monero team as CryptoKnight was originally designed to accommodate CPU and GPU mining and it was difficult to create ASIC miners for it.

According to Jordan Clifford of Monero, Rumors emerged that BitMain controlled a significant share of Monero’s hash rate by developing CryptoKnight ASICs. Developers alerted the community and efforts to change the hash function began.

The Monero research team began investigating how they could design a hash function that runs more efficiently on CPUs than on specialized hardware. In the meantime, it was decided the threat required an interim solution. CryptoKnight-R (v4) is currently used.

The team is now ready to launch RandomX. It uses the current block and data from a key block (every 2048 blocks) to produce a set of random programs and input that need to be executed together. The output from the programs is then fed into Blake2 to produce a final hash result

What is RandomX?

RandomX is a proof-of-work (PoW) algorithm that is optimized for general-purpose CPUs. RandomX uses random code execution (hence the name) together with several memory-hard techniques to minimize the efficiency advantage of specialized hardware.

According to RandomX’s developers, RandomX can operate in two main modes with different memory requirements:

  • Fast mode – requires 2080 MiB of shared memory.
  • Light mode – requires only 256 MiB of shared memory, but runs significantly slower

Because RandomX is optimized for general-purpose CPUs, the network will become more decentralized and egalitarian in the distribution of block rewards.

RandomX was developed for Monero by tevador, hyc, vielmetti, antanst and SChernykh. Wownero (which is a Monero fork) is also launching RandomX in their upcoming v0.6 update and will call it RandomWOW.

Monero XMR USD Price Chart

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]

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OKEx Exchange Adds Basic Attention Token

Sying Tien

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Basic Attention Token (BAT) has been added to OKEx cryptocurrency exchange. BAT tokens deposit has been enabled today and token trading will be enabled tomorrow. This is a great news for BAT community as OKEx is ranked among the top 15 exchanges with a daily trading volume of $1,519,756,182.

OKEx is a Malta-based cryptocurrency exchange. It was founded in 2017 by Star Xu.

What is Basic Attention Token (BAT)?

Basic Attention Token (BAT) is a digital advertising token which is built on the Ethereum blockchain. BAT project was created by Brendan Eich the creator of JavaScript and a co-founder of Mozilla foundation.

BAT is utilized within the Brave browser which is an opensource cryptocurrency based web browser that allows users to earn Basic Attention Tokens (BAT), by browsing and publishing content. BAT can be used to pay content creators and publishers through tips by their fans and users will also earn BAT cryprocurrency for viewing ads.

BAT/USD Price

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IOTA Releases an Updated Wallet To Fix Trinity’s Security Vulnerability

M. Ali

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IOTA Hack

IOTA’s team has released an updated version of it’s own Trinity wallet to fix some serious security vulnerabilities that allowed hackers to exploit Trinity wallet that was released by IOTA last summer. The new updates is available for Trinity Desktop, Android and IOS

Almost all IOTA’s users who have opened any version of Trinity (Desktop or Mobile) since the 17th of December 2019 are affected by this attack. Yet, only 10 wallets were hacked if not more.

A Reddit post about the recent attack

Iota team said that they are working with law enforcement and cybersecurity experts to track down the attackers. Yet, IOTA has revealed very few details about the attack.

A large amount of IOTA tokens have been stolen. The team predicts that $300,000 to $1.2 million worth of IOTA has been stolen so far. According to IOTA’s Team, the hack started on or around 25 January 2020 and that only Trinity Desktop users’ seeds were potentially compromised.

IOTA will implement a KYC procedure involving a third party that will enable all users who had their tokens stolen to reclaim them.

What is IOTA?

IOTA is a free and scaleable transaction settlement and data transfer layer for the Internet of Things (IoT). It is based on a novel distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system.

IOTA USD price chart for the last 7 days:

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Enjin Goes Live

Sying Tien

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Enjin (ENJ) , the blockchain gaming platform is now live on Ethereum Mainnet. Enjin project is a robust, all-in-one blockchain game development platform that helps developers crowdfund, grow, monetize, and design the digital world of their dreams.

To celebrate the public launch of the new Enjin Platform, Enjin will be giving away limited-edition collectibles, ENJ based gaming assets and 50,000 Enjin coins.

Enjin has its own marketplace EnjinX, where users can buy/trade any ERC-1155 assets to used in Enjin based games. The market is currently charging 2.5% trading fees.

Last year, Enjin announced a partnership with Samsung that integrated ENJ technology with Samsung Galaxy S10 models. This announcement sent the price skyrocketing and created a major media buzz for Enjin Coin (ENJ).

All assets/items created using Enjin’s development platform are backed by a nominal amount of Enjin Coin (ENJ) to certify their authenticity. The Enjin Coin ICO was held in 2017, raising approximately $22 million worth of ETH.

Enjin (ENJ) Coin Price Chart

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