Luxcore to Upgrade Algorithm to RX2
Luxcore has announced that it will be upgrading its mining algorithm from a current hybrid Proof-of-Work/Proof-of-Stake hashing algorithm (PHI2) to RX2. According to the project’s team, the transition will help the blockchain stay competitive and relevant in the industry.
To stay competitive in today’s blockchain ecosystem, it’s extremely important to adapt to the latest and best security, privacy, and efficiency practices, and we believe our switch to RX2 furthers our overall goal of positioning Luxcore at the forefront of the decentralized world.
RX2 is a modified version of Monero’s Proof-of-Work (PoW) algorithm, RandomX. The algorithm creates a firewall against ASIC miners and other specialized mining hardware through a virtual CPU simulation.
Luxcore’s adaptation of the algorithm allows for better accessibility and ease of joining the network. There is also a higher degree of decentralization, whilst optimizing the algorithm for general-purpose CPUs.
In general, RX2 is ASIC-resistant, more decentralized by optimizing general-purpose CPUs, secured, egalitarian in the distribution of block rewards, and memory-intensive thereby creating a solid defense against malware.
In addition to adding an extra layer of security to the LUX blockchain, RX2 will reward long-time LUX GPU miners by preventing the activities of specialized hardware and safeguarding against price manipulations.