{"id":1882,"date":"2019-09-29T19:56:42","date_gmt":"2019-09-29T19:56:42","guid":{"rendered":"https:\/\/2miners.com\/blog\/?p=1882"},"modified":"2021-05-07T08:27:35","modified_gmt":"2021-05-07T08:27:35","slug":"ravencoin-hardfork-introducing-the-new-x16rv2-algorithm","status":"publish","type":"post","link":"https:\/\/2miners.com\/blog\/ravencoin-hardfork-introducing-the-new-x16rv2-algorithm\/","title":{"rendered":"Ravencoin Hard Fork Introducing the New X16Rv2 Algorithm"},"content":{"rendered":"<p>Ravencoin was created by Game of Thrones fans. They named their project after ravens which in the fictional world of the show serve as messengers of truth. The show ended, but the blockchain project goes on. Moreover, it is forked often in order to stop ASICs from dominating the network. X16Rv2 is not used anymore. <a href=\"https:\/\/2miners.com\/blog\/kawpow-new-ravencoin-mining-algorithm\/\">The latest RVN algorithm is called KawPoW<\/a>.<!--more--><\/p>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1534\" src=\"https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/04\/126m.jpg\" alt=\"\" width=\"1422\" height=\"800\" data-wp-pid=\"1534\" srcset=\"https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/04\/126m.jpg 1422w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/04\/126m-300x169.jpg 300w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/04\/126m-768x432.jpg 768w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/04\/126m-1024x576.jpg 1024w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/04\/126m-800x450.jpg 800w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/04\/126m-1200x675-cropped.jpg 1200w\" sizes=\"auto, (max-width: 1422px) 100vw, 1422px\" \/><\/h2>\n<h2><b>Ravencoin Fork<\/b><\/h2>\n<p>Here are key facts about the fork.<\/p>\n<ul>\n<li><b>When<\/b> <b>the fork is due <\/b>\u2013\u00a0at 19:00 MSK (9:00 PDT) on October 1, 2019.<\/li>\n<li><b>Main feature of the update<\/b> \u2013\u00a0 the new X16Rv2 algorithm.<\/li>\n<li><b>Goal<\/b> \u2013\u00a0free the network from ASICs.<\/li>\n<li><b>What users should do<\/b> \u2013 update wallets and miners.<\/li>\n<\/ul>\n<p>Now let\u2019s get into more detail.<\/p>\n<h2><b>Why People Are Against ASICs<\/b><\/h2>\n<p>ASIC stands for Application-Specific Integrated Circuit. The name reveals their key feature \u2013 ASICs are designed to execute only one task, but they do it as well and effectively as possible.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1883\" src=\"https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/117m.jpg\" alt=\"\" width=\"1422\" height=\"800\" data-wp-pid=\"1883\" srcset=\"https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/117m.jpg 1422w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/117m-300x169.jpg 300w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/117m-768x432.jpg 768w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/117m-1024x576.jpg 1024w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/117m-800x450.jpg 800w\" sizes=\"auto, (max-width: 1422px) 100vw, 1422px\" \/><\/p>\n<p>GPUs are different because you can use them for both gaming and mining. ASICs can be used only for mining. Moreover, they can only mine coins on specific algorithms. If an algorithm changes, the device becomes useless.<\/p>\n<p>The key advantage of ASICs is its high computing power. They are better at cryptocurrency mining, they bring more profit than GPUs and also take up most of the network hashrate. It causes risks of coin centralization when the power is concentrated in the hands of the limited number of users.<\/p>\n<p>Let\u2019s say the crypto network operation is ensured not by the whole building, but only by two apartments. It would mean that these two apartments have more power and possibilities, including 51% attack. It goes against the principles of decentralization which are so important to cryptocurrency creators.<\/p>\n<p>One of the leading Ravencoin developers Tron Black commented on the threat of ASICs in <a href=\"https:\/\/medium.com\/@tronblack\/ravencoin-asic-thoughts-e6c0079609e6\">his post<\/a>.<\/p>\n<p>ASICs can be faster because they do one thing well, and can ignore everything else. An analogy is an Olympic marathon runner whose body composition is built for speed and distance only.<\/p>\n<p>An ASIC isn\u2019t evil but even the original whitepaper states that \u201cthe unfortunate side-effect of this transition to ASIC hardware is the centralization of mining.\u201d The developers don\u2019t want ASICs on the Ravencoin network. Moreover, GPU owners that can\u2019t compete with ASICs count on them.<\/p>\n<p>In the end, Ravencoin users confirmed that ASICs managed to get inside the network. In the middle of July, a user known as &#8220;standarderror&#8221; published <a href=\"https:\/\/medium.com\/@nbitsdev\/presenting-evidence-of-mining-centralization-on-the-ravencoin-network-88743db1910a\">an article on Medium<\/a> where he proves that mining in the cryptocurrency network is centralized.<\/p>\n<p>As a result, the developers decided to fork the network as soon as possible.<\/p>\n<h2><b>Ravencoin Fork Features<\/b><\/h2>\n<p>The key feature of the fork is the new X16Rv2 algorithm. The developers plan to use it for banning ASICs from the network, so block mining and the network operation will be ensured by GPU owners. They have less computing power and as a result less influence on the network. Risks will be lower, the number of users will be higher \u2013\u00a0this is what decentralization looks like.<\/p>\n<p>Read more: <a href=\"https:\/\/2miners.com\/blog\/how-to-mine-ravencoin\/\">How to Mine Ravencoin: Definitive Guide<\/a><\/p>\n<p>There is a huge benefit for GPU owners. After the fork when ASICs are out of the network their share will be divided among GPU miners. So thanks to the fork GPU owners will start earning more. However once users of <a href=\"https:\/\/2cryptocalc.com\/\">mining profitability calculators <\/a>find out about it, they will start mining RVN as well. As a result after a while, profits will get back to normal, but still, there will be enough time to make a quick buck.<\/p>\n<h2><b>What Ravencoin Users Should Do<\/b><\/h2>\n<p>Network users should update the software to the latest version \u2013 here is the <a href=\"https:\/\/github.com\/RavenProject\/Ravencoin\/releases\">link<\/a>. As of now, it\u2019s Ravencoin 2.5.1.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1884\" src=\"https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/image3.png\" alt=\"\" width=\"1125\" height=\"650\" data-wp-pid=\"1884\" srcset=\"https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/image3.png 1125w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/image3-300x173.png 300w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/image3-768x444.png 768w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/image3-1024x592.png 1024w, https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/09\/image3-800x462.png 800w\" sizes=\"auto, (max-width: 1125px) 100vw, 1125px\" \/><\/p>\n<p>If you don\u2019t update, you will end up in the wrong chain after the fork. And you don\u2019t want to be there.<\/p>\n<h2><b>What Ravencoin Miners Should Do<\/b><\/h2>\n<p><a href=\"https:\/\/2miners.com\/\">2Miners pool<\/a> is ready for the fork, so you have nothing to worry about.<\/p>\n<p>Before the fork, you should update the T-Rex miner to 0.14.4 by clicking on this <a href=\"https:\/\/trex-miner.com\">link<\/a>. Or you can download the latest version from our <a href=\"https:\/\/drive.google.com\/file\/d\/11R0L-QgOHnzZ5JfxidH2KPYj1PFEeqDY\/view?usp=sharing\">archive<\/a>. The password to the archive is <em>2miners<\/em>.<\/p>\n<p>We divided the instruction into two parts: the first part is for regular miners and the other one is for advanced miners.<\/p>\n<p>Right after the fork regular miners should update the bat file and reconnect to the pool. The line is as follows.<\/p>\n<pre>t-rex -a x16rv2 -o stratum+tcp:\/\/rvn.2miners.com:6060 -u YOUR_ADDRESS.RIG_ID -p x<\/pre>\n<p>Advanced miners can edit the bat file. If you enter the line below, the miner will automatically switch from the old algorithm to the new one and will continue mining.<\/p>\n<pre>t-rex -a x16r --fork-at x16rv2=2019-10-01T16:00:00 -o stratum+tcp:\/\/rvn.2miners.com:6060 -u YOUR_ADDRESS.RIG_ID -p x<\/pre>\n<p>Remember to replace YOUR_ADDRESS with your real wallet address, and RIG_ID with your rig name. If you are a beginner, we recommend watching the video tutorial below.<\/p>\n<p><iframe loading=\"lazy\" title=\"How to Mine Ravencoin - RVN Mining Pool Setup\" width=\"525\" height=\"295\" src=\"https:\/\/www.youtube.com\/embed\/waj_reqa1a8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>We will keep you updated about the fork in our <a href=\"https:\/\/t.me\/chat2miners\">Telegram chat<\/a>. See you there!<\/p>\n<p><a href=\"https:\/\/twitter.com\/pool2miners\"><b>PLEASE REMEMBER TO FOLLOW US ON TWITTER<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ravencoin was created by Game of Thrones fans. They named their project after ravens which in the fictional world of the show serve as messengers of truth. The show ended, but the blockchain project goes on. Moreover, it is forked often in order to stop ASICs from dominating the network. X16Rv2 is not used anymore. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":1534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ravencoin Hard Fork Introducing the New X16Rv2 Algorithm - Crypto Mining Blog<\/title>\n<meta name=\"description\" content=\"Ravencoin was created by Game of Thrones fans. They named their project after ravens which in the fictional world of the show serve as messengers of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/2miners.com\/blog\/ravencoin-hardfork-introducing-the-new-x16rv2-algorithm\/\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/2miners.com\/blog\/ravencoin-hardfork-introducing-the-new-x16rv2-algorithm\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/2miners.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ravencoin Hard Fork Introducing the New X16Rv2 Algorithm\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ravencoin Hard Fork Introducing the New X16Rv2 Algorithm - Crypto Mining Blog","description":"Ravencoin was created by Game of Thrones fans. They named their project after ravens which in the fictional world of the show serve as messengers of","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/2miners.com\/blog\/ravencoin-hardfork-introducing-the-new-x16rv2-algorithm\/","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/2miners.com\/blog\/ravencoin-hardfork-introducing-the-new-x16rv2-algorithm\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/2miners.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Ravencoin Hard Fork Introducing the New X16Rv2 Algorithm"}]}]}},"_links":{"self":[{"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/posts\/1882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/comments?post=1882"}],"version-history":[{"count":10,"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/posts\/1882\/revisions"}],"predecessor-version":[{"id":3191,"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/posts\/1882\/revisions\/3191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/media\/1534"}],"wp:attachment":[{"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/media?parent=1882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/categories?post=1882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/2miners.com\/blog\/wp-json\/wp\/v2\/tags?post=1882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}