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.
So far, the XMR developers have hard-forked the network once every six months in order to ensure application-specific integrated circuit resistance by integrating changes to the CryptoNight, says Cointelegraph.
This approach has been said to be too centralized.
Monero Outreach responds to Reuters
In other news, Monero has been in the spotlight recently after Reuters released a report about the project.
They have pointed out the differences between XMR and Bitcoin but their report mostly focused on the illegal use cases of Monero.
This led to the fact that the Monero Outreach community responded with their own blog post.
Monero Outreach writes that “the story that ‘examines the features and characteristics of some of the alternatives to bitcoin’ arguably overemphasized the criminal use of Monero and under presented the features and characteristics that make Monero great and popular.”