Minter Browser Update Planned Due to Monero Hard Fork
The Monero development team is implementing a blockchain hard fork on March 9, 2019.
What is a “hard fork”?
Monero operates with a “blockchain” – a chain of blocks. In a chain, one link follows from another; however, on occasion the chain can be split into two. This is a fork. A fork can be “soft” or “hard”. A soft fork is a backwards compatible change, such as a software upgrade. A hard fork, on the other hand, introduces a new rule which isn’t compatible with the existing protocol. A hard fork causes major changes in the protocol that governs the interactions by participants with the blockchain. As a result, all participants who wish to continue being part of such a blockchain network are required to update their client software with the new changes.
Why will there be a hard fork for Monero?
Hard forks happen for a variety reasons some of which include major performance improvements and fixing security flaws. However, for the Monero cryptocurrency, one of the primary reasons the development team periodically implements a hard fork is to deter the use of specialized hardware designs for its proof-of-work (mining) algorithm called CryptoNight.
The next Monero hard fork is scheduled to happen on March 9, 2019 which means that at BlockMint, we will be updating the Monero mining engine integrated in the Minter browser so that it is up to date when the hard forks happens. This software update will require users to download a new version of the Minter browser.
In other news this week . . .
Coinhive, another provider of Monero distributed mining technologies, announced that they will shutdown their operations on March 8, 2019, the day before the Monero hard fork. This means current users of Coinhive will be looking elsewhere for easy access to mining Monero, such as that provided within the Minter browser.
This also means that the entire Monero network hashrate will drop due to the unavailability of Coinhive services. Because Coinhive distributed mining contributes a sizable amount of hashing power to the overall network hashrate, Monero mining difficulty (how hard it is to mine a block) may drop, which means it may become a suitable timing to mine Monero due to it having a lower mining difficulty level.
Recent news also indicates that there continues to be a gradual industry adoption of blockchain with notable announcements from Facebook that it is developing blockchain for remittance services and Overstock launching tZero which is a security token exchange platform.
I believe that the adoption of blockchain technology will continue to proliferate across industries. At BlockMint, we welcome these new users of blockchain technology. We are focused on the development of distributed systems and networks that enable a decentralized deployment of blockchain based applications, such as the Minter browser.
Chief Executive Officer