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According to Riccardo Spagni, Monero {XMR} is DePri; RandomX scheduled to go LIVE soon

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Monero is ranked at #12 in the market to the north of Cardano. The trading volume recorded stands at approximately $217.945 million, while the supply has 17,306,930 XMR coins involved as part of circulation. The total market cap of Monero amounts to $1.121 billion. The price increased at a rate of 1.77% in the course of the past 24-hours. This, in turn, prompted XMR to surge ahead and reach $64.77 where it currently holds.

Recently, Coinbase had published a blog post which explored the problems associated with ASIC-resistant cryptocurrencies, and how PoW set-ups operate in the real world. Essentially, it examines the case study of Monero, a virtual currency wherein the developers associated with the project are trying to oppose specialized machines in an effort to promote decentralization.

In response to this, a story has been put out via monerooutreach.org. While the new article describes the risks pointed out [by Coinbase] as valid, it also takes a look at the numerous flaws linked to the piece. With the advent of v0.15.0.0 i.e. Carbon Chamaeleon, a brand-new PoW algorithm will be unleashed on the mainnet. Once RandomX kicks-off, “almost everyone” will be able to mine XMR with the help of a simplistic CPU.

Howard Chu, the founder and CTO of Symas Corp states, “…General-purpose CPUs, as found in desktops, laptops, and smartphones, are the most ubiquitous and easily accessible computing devices out there.” Howard has been instrumental in relation to RandomX’s development and subsequent release.

This is exactly why centralized exchanges should refrain from commenting on privacy-centric ventures which aren’t even listed on their official platform [as they are KYC-AML compliant, and thus need to abide by rules set by regulators and puppeteers]. Coinbase ended up presenting a flawed argument which proves that critical thinking is an area they need to comprehend in a more appropriate manner.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.