The battle between Bitmain and Monero continues to escalate: XMR vs XMC

At 2 am yesterday, Bitcoin Mainland Ant Pool launched Monero mining service and plans to fork Monero on April 6. A new currency, Monero Classic (XMC), will appear at that time, using the current Monero algorithm. XMC official website http://monero-classic.org/ Quote from PZ's article "To all the partners in the cryptocurrency community"

Since Bitmain started selling Antminer X3 (cryptoNight algorithm mining machine, mainstream currency Monero) overseas, the battle between Bitmain and Monero has begun. Can we also see it as the right and wrong of ASIC mining machines?

Let’s review the battle between ASIC miners and Monero.

On March 15, Bitmain launched the Antminer X3 overseas

Later, Riccardo Spagni, the founder of Monero, posted on Twitter: Just a reminder that this WILL NOT work on Monero (Ant X3 will not be able to mine Monero)

Bitmain is not to be outdone. Bitmain’s official Twitter account banned Monero founder Riccardo Spagni

On March 16, Bitmain’s Wu Jihan posted on Weibo Bitcoin QQagent that Ant X3 is a CryptoNight algorithm mining machine, not a Monero mining machine

On March 17, Bitmain lowered the price of Antminer X3 from 11999 USD for the May batch and 7599 USD for the June batch, and replaced it with a new batch at 3000 USD.

On April 6, Bitmain will fork Monero and split it into Monero Classic XMC

Bitmain recently launched the Ant E3 mining machine, which is suitable for Ethereum algorithm mining. Some people in the Ethereum community also suggested forking to boycott AISC mining machines ([Breaking News] Bitmain sells Ethereum ASIC Ant E3 mining machine overseas, a different new version)

Short review:

Behind the dispute over ASIC mining machines lies the dispute over centralization and decentralization. Centralization and decentralization are relative, and each has its own advantages and disadvantages. Cryptocurrency mining consensus algorithms are committed to further decentralizing computing power to avoid excessive centralization of computing power. However, in order to maintain the security of the blockchain, economic incentives (mining coins) are used to motivate miners to mine to ensure the safe operation of the blockchain. This is originally a network built on the premise of profit-seeking, pursuing maximum profit, low cost and high output. Therefore, the performance of CPU, GPU and now ASIC has gradually improved, which is also inevitable.

Things are developing, and we should also look at problems from a developmental perspective. As long as it is a free market and compliant methods, we can think that there is no problem. Ultimately, the right and wrong will be determined by the development of the market. This is also beneficial to the development of digital currency, which will become more and more robust and secure.