Yesterday the core development team of Monero, as we have already reported, implemented a hard fork to change their algorithm to compate corporate centralized mining of bitmain and X3 ant mining hardware.
In light of this fork, many who disagreed with the core developers decided to split from monero and fork their own currencies, and all three of them claim to be the true original Monero.
Although one can truly only speculate why this happened, it also seems relatively obvious especially given rumors in the community that many had already ordered the X3 ant mining hardware and were not happy to learn they would not be able to mine Monero with it.
With the exception of the original currency Monero (XMR), all of the other 4 currencies will use the old algorithm which will allow the X3 to mine the currency.
The first to split happened on March 29 and called itself Monero Original (XMO). Relatively little information was given about XMO except on the monero page itself which says:
The anonymous team of crypto enthusiasts announced that the original Monero chain will be kept and running after the Monero hard fork scheduled for the 6th of April 2018 at block #1546000.
Every user holding Monero on their XMR wallet that supports Monero original will receive the equal number of XMO coins.
While the new cryptocurrencies created in the result of the hard fork will be using the brand new chain, Monero Original will continue staying on the original chain. This ensures the uninterrupted transaction processing without any delays within the original chain.
Monero advertised this on their own site stating the following:
“Monero has always been about freedom of choice, about diversity and about the strong community behind it. We are providing the Monero fans a possibility to support the iconic coin and stay on the original chain. Monero Original team stands for diversity, which is a logical marker of evolution. We are excited to see our favourite coin mature, and we are even more excited to help keeping this diversity,” says the lead developer of Monero Original team.
Interestingly enough, there is no webpage to be found about this currency, why it split, or much of anything else. There is only an email provided with a link to a github page under a username XmanXU. The username itself makes one wonder if this isn’t in fact the bitmain team themselves attempting to take over the coin, but again this is only a speculation as no real information is provided.
The second coin to spit called itself Monero 0 (ZMR) and split on March 31. On the Monero 0 project they make the claim that:
We are an organization that have decided to break off from the Monero Project to start Monero 0. We’ve decided that the Monero Project’s strategy to continuously hard fork is no longer a stable or a sane strategy. We believe that Satoshi’s Proof of Work is the only mechanism for decentralized consensus.
The so-called “network upgrades” that are centrally mandated by the Monero Project are a trojan horse designed to compromise the effectiveness of Proof of Work in the Monero network. Monero 0 is not a fork, it is the original Monero.
Despite their claim, it is obviously that the true original Monero is not a “trojan horse” by any definition of the word used in modern computing. However that has not stopped them from posting countless information and articles about why its important for ant mining hardware to be able to partake in mining Monero on their twitter page. There is also an interesting reddit post of people supporting the concept and the idea.
Much like Ethereum Classic and Ethereum had a split, the third coin called itself Monero Classic (XMC) and split from the currency on April 4th, just two days before the implementation of the core development teams changes.
The Monero Classic website, which is written in both Chinese and English, had the following to say:
the emergence of specialized mining machine for a cryptocurrency is normal market economy phenomenon. In the 10 years since the cryptocurrency community was born, we have seen the birth of specialized mining machine for Bitcoin. Then there emerged Litecoin, which was expected to be against specialized ASIC mining machines, using script algorithm which was considered to be”against ASIC” at that time. While after only two years, there appeared specialized mining machine for Litecoin. We considered about whether to change algorithm to be against specialized ASIC mining machines or not. However, after prudent and serious discussion, we believe that for any kind of valuable algorithm, the emergence of mining machine is only a matter of time. Finally, we made our choice to accept the existence of professional mining machines. Now more and more high-value currencies (algorithms) have respondent specialized ASIC mining machines, which has become a common phenomenon in the industry.
The fourth and final coin to split, waited until the last possible date to split and called itself the classic monero or MoneroC (CXMR). There website says nothing about their reasoning for the split, however unlike the other 3 coins, this seems to be something other than about ASIC mining and relating more about the security of Monero core developers and they themselves being centralized.
On the MoneroC twitter page, they accuse the Monero Core team as becoming centralized in a post that says the following:
The future of Monero looks very different from how it did just a few weeks ago, and one can only wonder if all these splits in the coin will only cause all of them to fail with less and less support for any one of them, taking away from the network mining power.
An interesting thing to note, is that of all these splits, so far the popular desktop mining software minergate has only supported two of these forks and those are the original Monero (MXR) developed by the core developers and the unknown anonymous fork of Monero Original (XMO).