Grin Network Executes First Hard Fork in Bid to Decentralize Mining Power

Privacy-oriented cryptocurrency Grin has just executed its first backward-incompatible upgrade, also called a hard fork.

"It was planned since way before Grin launched," Grin developer John Tromp told CoinDesk.

"We would do four hard forks in the first two years, at regular six-month intervals, to introduce new features."

Rather, the old Grin network simply halted "In its tracks," effectively forcing users to update their software.

One of the most integral changes introduced on the Grin network today is a tweak to one of two mining algorithms.

As previously reported, Grin supports a mining algorithm that is friendly toward both general-purpose computing devices called GPUs and specialized hardware called ASICs.

In order to ensure that ASICs don't hold a monopoly on the Grin mining industry - estimated to generate over $100 million annually by today's coin prices - Wednesday's update ensures the playing field remains ASIC-resistant for the short-term future of the Grin protocol.

In another six months, additional tweaks to the newly implemented mining algorithm will be activated by Grin developers.

Tromp, who is in charge of these mining algorithm edits, also affirmed that for the second Grin fork, developers will take the first step toward adding payment channels to the network.

Like Grin's upgrade, Beam will also be adding payment-channel functionality and a mining algorithm update meant to keep ASICs in check.