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October 18, 2018 Monero Protocol Upgrade Guide, Tutorial and Solution

The Monero official team announced that the new network update will bring on October 18, PoW algorithm will be changed to :CryptoNight variant 2(V8)

CryptoNight variant 2 Monero V8 Network Upgrade Countdown

Monero Blocks Info Explorer & Status:

Updating Block Height: 1685555

Why update the network protocol (CryptoNight variant 2)?

The scheduled network upgrade introduces four major changes. First and foremost, a new form of range proofs called Bulletproofs, which will replace the old Borromean range proofs and thereby significantly (i.e. by approximately 80%) reduce the transaction size (and thus fees). Second, a PoW tweak to curb any potential threat of ASICs and further preserve ASIC resistance. As a result, miners will have to update their miners (i.e. mining software) as well or you will not be awarded. Third, the minimum ring size is bumped to 11 (mixin 10) and will be static / fixed. Therefore, pool operators need to ensure that payouts use a ring size of 11 (mixin 10), otherwise they will get rejected by the network.

Monero Mining Software Update Status:

Xmrig:UPDATED...

XMR-stak:UPDATED...

Claymore:PENDING...

HashFish:UPDATED...