Monero executed a hard fork today in attempts to block ASIC miners after a recent announcement that Bitmain will soon be shipping the Antminer X3 which was specifically designed to mine Morero (XMR).
At block number 1546000, the Monero update when live which seeks to introduce the new consensus algorithm which hopes to protect the network from ASIC miners.
Although Monero has publicly objected to the Bitmain’s proposed X3 Miners, competitors to Monero including Monero Classic and Monero Original intent to preserve the ASIC compatible software. In what appears to be a calculated move, this may entice ASIC miners to switch to competitors.
The Monero community is closely watching the hash rate of Monero mining which will ultimately determine if the new fork and update was adopted by the larger community.