On April 6, a hard fork occurred on the Monero network, which gave rise to four new projects—two Monero Classic, as well as Monero Original and Monero 0. All of them claim to be the “original Monero.”
The latest hard fork on the Monero network has made changes to the settings of the CryptoNight hashing algorithm. This backwards-incompatible change makes the use of ASIC miners useless. The use of such equipment is a major concern for CryptoNight.
The risks associated with the use of ASIC miners are the reason that most Monero developers and users agreed to the hard fork. However, not all users supported updating the protocol to version 12. Following the example once set by Ethereum Classic, some users decided to continue working in version 11 of the Monero blockchain.
Thus, today there are four Monero projects. Despite different names and logos, the new projects work with the protocol that existed before the hard fork and represent the same network and coin.
Monero Classic
The coin is presented by a group of enthusiasts from Singapore stating that Monero Classic is in no way connected with other new projects. They support the introduction of ASICs and consider a hard fork to exclude ASIC devices to be a big risk. In their opinion, the original code base should be maintained, and changing the PoW algorithm was not a thoughtful decision.
Monero-Classic (XMC)
A group of developers under the pseudonym PZ consider the emergence of specialized mining equipment to be a natural economic process and support the source code base. This project is actively promoted by the Bitmain AntPool mining pool. Many suspect that the manufacturer of ASIC miners had a hand in the creation of the project, because the hard fork is absolutely unprofitable for Bitmain.
Monero 0 (XMZ)
Proof-of-Work maximalists from Satoshi - this is what the developers of this coin call themselves. They believe that the network upgrade that is centrally provided for in the Monero Project threatens the effectiveness of Proof-of-Work on the Monero network. Monero 0 also believes that "Bitmain is trying to destroy Monero" and Monero (XMR) is "an NVDA project."
Monero Original (XMO)
The project's developer, who calls himself Xman, is giving Monero supporters the opportunity to support the iconic coin and remain on the original network.. So far, only one cryptocurrency exchange - HitBTC - has confirmed its readiness to make the XMO balance available to everyone who owned XMR during the hard fork. HitBTC has also started trading XMO.
At the moment, the future of each of the projects and its reliability remains unclear. Moreover, there are certain difficulties. Whether all four versions of Monero on the old blockchain will be able to earn any market value and maintain it remains to be seen. Monero developer Riccardo Spagni has not yet commented on the current situation.
According to https://cryptocurrency.tech
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