When Firo Will Perform Hard Fork. 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.
The update is due on October 26 at 6:00 UTC.
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.
What Is FiroPoW
According to Firo’s team, they are big fans of the Proof-of-Work algorithm. Here is a quote from the official website.
We have always been big fans of Proof of Work’s ability to tie the value of a virtual currency to the real world along with a way to distribute Firo’s supply in a fair and decentralized manner free from restrictions.
FiroPoW follows ProgPoW v0.9.4 spec with a small change. It will allow the algorithm to randomly change with every block.
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.
Some cryptocurrencies already use ProgPoW. Ravencoin’s current mining algorithm KawPoW is a modified version of ProgPoW.
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.
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.
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.
What Is Firo’s Instant Send
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.
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.
How to Prepare for Firo’s Update
2Miners FIRO pool 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 .
- Gminer is not planning to support Firo’s update.
- NiceHash will support it only if the daily mining profitability reaches “at least a few BTC.” Otherwise, Firo won’t be on Nicehash.
Instead, TeamRedMiner and T-Rex already confirmed that they will support the update.
T-Rex is the mining program for NVIDIA, TeamRedMiner – for AMD.
Nvidia FiroPoW Settings
Here is a bat file you could use ONLY after the fork, just in case you need it. As you see the only difference is the mining algorithm. It was mtp and now it would be firopow.
t-rex -a firopow -o stratum+tcp://firo.2miners.com:8181 -u aPGQDJrbcGGpThJ5xLT3SPhVftVsgqcvxR.RIG_ID -p x
AMD FiroPoW Settings
FiroPow is supported by TeamRedMiner starting from version 0.8.6. You can download the new version here. Use the following bat file to mine Firo on TRM. As you see the only difference is the mining algorithm. It was mtp and now it would be firopow.
teamredminer.exe -a firopow -o stratum+tcp://firo.2miners.com:8181 -u aPGQDJrbcGGpThJ5xLT3SPhVftVsgqcvxR.RIG_ID -p x
You can find everything about how to start mining Firo on the respective pool webpage. As of now, the page still features settings for the MTP algorithm, but we will update the page as the fork gets closer. If you are a 2Miners user, the only thing that will change for you in the bat file after the fork is the name of the algorithm: from mtp to firopow. Server, port, and other settings remain the same.
Firo’s update is an important milestone for the network that will affect the cryptocurrency functionality and its popularity among common users. Miners should remember to upgrade and change settings, otherwise, Firo mining will stop. Any questions are welcome in our Telegram chat.