On April 6th, at 16:44:02 UTC (block 1546000), the privacy-oriented cryptocurrency Monero successfully performed its scheduled hard fork. Which, among other updates, hardened the cryptocurrency against ASIC miners.
The Monero community first began to suspect that an ASIC was in play in January, when the hashrate began to increase rapidly. Though at the time, the Monero community believed that developing an ASIC for CryptoNote would be prohibitively expensive.
The suspicions were proved correct when Bitmain announced its AntMiner X3 ASIC in mid-march alongside other ASIC announcements. Though these announcements occurred not long after the Monero team announced that it would be changing the PoW algorithm to set back any ASIC miners.
Other features added
One of the notable changes made over the hard fork is support for the ledger nano hardware wallet. Otherwise, sub-addresses and multi-signature wallets were added to the reference wallet.
You can read the full changelog on the Monero team’s blog post.
While the full extent of the hashrate drop is still unknown, the difficulty algorithm has begun to lower the difficulty. At the time of writing, monerod reported a network hashrate of 645.63 MH/s and a difficulty of 77475745059. It is expected that the difficulty and therefore reported hashrate will have normalized around block 1546720.