According to the official announcement, Monero team is going to change PoW and issue a new algorithm CryptoNightV7. The main cause for the change is “to maintain ASIC resistance by swiftly reacting to any potential threat from ASICs and considering slightly modifying the PoW at every hardfork.” The Monero team is protecting XMR from the centralization as new ASIC miners may gain a significant majority of the network hashrate.
The network upgrade will take place on April 6, 2018, block 1546000, and MinerGate is ready to support it.
Due to the fork, miners who use side miners should change miner settings and switch 45560 port to 45700. The final port address should be as follows:
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Please be aware that it will be impossible to mine XMR after the fork with new ASIC miners due to the new CryptoNightV7 algorithm.
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