Grin cryptocurrency expects the first hard fork in the history

Cryptomaniac
By June 6, 2019 23:10

Grin cryptocurrency, focused on the privacy of users that runs on the MimbleWimble protocol, is awaiting the first hard fork in history, reports the crypto portal CoinDesk.

According to published information, the network update proposed by BlockCypher developer Quentin Le Seller will take place on July 17, 2019 at block 262,080. At the same time, as noted, this is only one of the upcoming Grin upgrades planned for the next two years. Their main goal is to resist mining using ASIC devices.

Algorithms for mining cryptocurrency Grin

Grin currently uses two PoW mining algorithms. Cuckatoo31 +, which is ASIC-friendly; and Cuckaroo29 – aims to optimize the mining of video cards.

The solution of Grin developers to get rid of the Cuckaroo29 algorithm in favor of Cuckatoo31 + looks somewhat strange. They argue that no algorithm can remain mining-resistant on ASIC devices forever.

That is why the closest hard fork will be aimed at improving the Cuckaroo29 algorithm to make sure that it will remain resistant to ASIC devices in the next two years. After that, the algorithm and completely “disappear.”

Further network updates will take place roughly every six months, or several months if necessary.

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Cryptomaniac
By June 6, 2019 23:10