After a series of complaints against Monero (XMR) due to the recent botnets that are being used by miners to mine Monero and the attempt by Monero developers to change the proof of works, Monero community could no longer bear the pressure. At last the cryptocurrency was hit by yet another hard fork on 6th April this year, resulting in the formation of Monero Classic (XMC).
Those behind the Monero Classic accuse the original Monero developers of trying to kill he decentralization of the cryptocurrency by changing the proof of works making the network more centralized and thus eroding the gains made. In a way the Monero XMR community seemed conditioned to follow whatever the developers did even when it was not according to the interest of the community.
After most hard forks, the resulting crypto coin, usually struggles a lot to get back to its foot. This is usually takes place when the hard fork was caused by reasons that aren’t substantial enough.
However, for the Monero Classic (XMC), it has found it quite easy to climb up the ladder. As of now its token’s value is $17.86 USD.
This is quite an improvement considering it started at less than $1 USD. For the Monero users who changed from Monero XMR to Monero Classic, they get the same amount of Monero Classic as their Monero XMR. For example, if a user had 2345 Monero XMR, then he/she would acquire 2345 Monero Classic. Read more from cryptorecorder.com…
thumbnail courtesy of cryptorecorder.com