Monero developers are switching to the new PoW algorithm as agreed with Arweave.
Developers have been trying to enable the ASIC resistance, and this was questioned as an overly centralized network.
The audit reaches a funding level of $150k
Cryoptonewsz says that this concerned above has been raised by one of the Github platform commenters.
The new algorithm is following an agreement with Arweave which launched a decentralized Internet and said that XMR would implement the RandomX algorithm.
This means that developers will be replacing CryptoNight if the audit that will be funded is successful.
They also say that with Arweave in the picture this audit has already reached the funding level of about $150k .
Less intervention on the ASIC resistance platform
The launch of RandomX will bring less intervention on the ASIC resistance platform.
With XMR switching to another algorithm, the price will definitely show some surge according to the online magazine mentioned above.
At the moment, XMR is trading in the green on CoinMarketCap and it’s price at $92.95.
Monero price prediction
Monero developers have been working in order to make sure that the chain is scaled at optimum ability.
“There is a short term resistance at 120 USD for XMR. Additionally, if it breaks out the resistance, Monero (XMR) is well-equipped to pass its end of 2019 target of $200 much early,” CryptoNewsZ writes.
Other than this, Monero has made headlines recently after Reuters published a report on the privacy-oriented coin. They presented XMR’s features and they made a short comparison to BTC.
But the article was more focused on the illegals uses of Monero, and this triggered negative reactions from the Monero Outreach community.