Manufacturer Holds Cryptonight ASIC Firesale after Monero Hard Forks

Mining hardware manufacturers have begun selling Cryptonight ASIC miners for next to nothing after privacy-centric cryptocurrency Monero carried out its threat to adopt a hard fork to maintain ASIC resistance. Last week, Monero activated its semi-annual hard fork, an update that included an alteration to its instance of the Cryptonight Proof-of-Work (PoW) consensus algorithm.

This particular update had one purpose: ensure that no currently-existent Application Specific Integrated Circuit (ASIC) miners are compatible with the Monero network. The hard fork came weeks after Bitmain — the dominant ASIC manufacturer and a subject of scorn among many cryptocurrency communities — unveiled the Antminer X3, its first Cryptonight ASIC miner.

Reference: https://www.ccn.com/manufacturer-holds-cryptonight-asic-firesale-after-monero-hard-forks/

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