MONERO CLASSIC

The main message of Monero classic is that we believe that the developers changing the proof of work creates more centralisation and harms decentralisation. So understandably people have looked at the situation in Bitcoin where one mining equipment manufacturer caused a lot of chaos on the bitcoin network. Bitmain has been accused of selectively selling their mining equipment to people on condition that they follow the wishes of bitmain. Also bitmain was accused of blocking protocol improvements on the bitcoin network.

Understandably when bitmain announced they have new mining equipment for monero, many people were upset and afraid that bitmain would end up causing chaos and controlling the Minero network. So the developers decided they would change the proof of work every six months in order to prevent ASIC manufacturers from making miners on monero. However this just creates an alternative and more harmful form of centralisation. The Minero developers are saying that they can and will change the consensus rules whenever it suits them and the community seems to be conditioned into following the wishes of the developers.

However with mining there is always competition. we can see this in action because the first people to announce ASIC miners for Monero, was the company Baikal. Then within days Bitmain, and now Halong Mining. So already there are three separate mining equipment manufacturers for this coin. That’s how the consensus mechanism is supposed to work. There is economic incentive to remain honest and follow the most profitable strategy. This is why there are now three separate mining equipment manufacturers for Monero. But instead the developers have a cut short the incentive mechanism by declaring unilateral control over Monero.

Around 80% of the current Monero hash rate agrees with our stance and refuses to follow the POW change. That is why we declare in advance that we will maintain the original software which follows the original rules. We reject centralised developer Control and we believe that’s voluntary participation for both users and miners Will uphold the principles of decentralisation.

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