{"id":3535,"date":"2021-10-13T16:11:36","date_gmt":"2021-10-13T16:11:36","guid":{"rendered":"https:\/\/2miners.com\/blog\/?p=3535"},"modified":"2021-11-09T11:52:56","modified_gmt":"2021-11-09T11:52:56","slug":"firo-zcoin-hard-fork-new-algorithm-firopow-how-to-prepare","status":"publish","type":"post","link":"https:\/\/2miners.com\/blog\/firo-zcoin-hard-fork-new-algorithm-firopow-how-to-prepare\/","title":{"rendered":"Firo (ZCoin) Hard Fork. New Algorithm – FiroPoW. How to Prepare?"},"content":{"rendered":"

Popular cryptocurrency networks upgrade quite often which means they are in active development. For example, on August 5, Ethereum blockchain performed the London update<\/a> that made transaction fees more predictable and introduced ETH burning. Now it’s time for Firo to update. The cryptocurrency is going to change its mining algorithm. Let’s get into it.<\/p>\n

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When Firo Will Perform Hard Fork<\/h2>\n

Firo will upgrade to v0.14.9.0. The update is mandatory. It will introduce the FiroPoW algorithm and a new feature called Instant Send.<\/p>\n

The update is due on October 26 at 6:00 UTC.<\/p>\n

What Is FiroPoW<\/h2>\n

FiroPoW is a new mining algorithm that will replace the current algorithm: MTP (Merkle Tree Proof). It is highly optimized for GPUs and both ASIC and FPGA resistant. Miners won’t have to worry about an abrupt decrease in mining profitability<\/a>.<\/p>\n

\"asic-gpu-is-better\"<\/p>\n

According to Firo\u2019s team, they are big fans of the Proof-of-Work algorithm. Here is a quote from the official website<\/a>.<\/p>\n

\nWe have always been big fans of Proof of Work\u2019s ability to tie the value of a virtual currency to the real world along with a way to distribute Firo\u2019s supply in a fair and decentralized manner free from restrictions.\n<\/p><\/blockquote>\n

FiroPoW follows ProgPoW v0.9.4 spec with a small change. It will allow the algorithm to randomly change with every block.<\/p>\n

In 2019 ProgPoW was strongly supported by Ethereum users that voted in favor of its integration into the network. ProgPoW was going to prevent ASICs from mining ETH, thus protecting GPU owners and making the blockchain more decentralized. Ethereum still hasn’t implemented ProgPoW.<\/p>\n

Some cryptocurrencies already use ProgPoW. Ravencoin’s current mining algorithm KawPoW<\/a> is a modified version of ProgPoW.<\/p>\n

The initial DAG size will be slightly more than 4GB and increase by 8MB every 1300 blocks, that is, every ~4.5 days. As a result, most modern graphics cards will support DAG.<\/strong><\/p>\n

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DAG is a data block uploaded to the GPU memory when a miner launches. DAG makes mining possible, so that miners can look for solutions to find blocks, thus ensuring the network operation. DAG size increases with time, which prevents graphics cards from mining certain cryptocurrencies: they simply don’t have enough memory.<\/p>\n

A block in kilobytes in FiroPoW, excluding transactions, is ~500x smaller than a block in MTP. As a result, the blockchain size will increase much more slowly, which will also benefit the network bandwidth.<\/p>\n

What Is Firo’s Instant Send<\/h2>\n

Instant Send allows transactions to be safely considered final within seconds even without waiting for block confirmation. It is combined with ChainLocks technology which makes blocks final with a single confirmation. As a result, Firo can be used as a currency even for real-life transactions.<\/p>\n

Once Firo reaches block 421150, Instant Send transactions will be default for all wallet transactions including Lelantus transactions. Firo will be working with cryptocurrency exchanges and other platforms to allow for fast recognition of Firo deposits.<\/p>\n

How to Prepare for Firo’s Update<\/h2>\n

2Miners FIRO pool<\/a> supports the update to the new version 0.14.9.0 and FiroPoW. The pool has already updated the nodes to the latest version. If you have a Firo wallet with the full blockchain version, don’t forget to upgrade it by following the link <\/a>.<\/p>\n

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