1. What is Monero (XMR)?
Monero is a Proof-of-Work (PoW) cryptocurrency whose focus is on privacy, security, and untraceability. Its first block was mined in 2014.
Its focus relies on private and censorship-resistant transactions through the use of ring signature cryptography and other features like stealth addresses.
Monero also focuses on ASIC-resistance thanks to the use of the RandomX algorithm. Prior to that, Monero had biannual network upgrades: these hard forks were intended to upgrade Monero’s PoW hashing algorithm (CryptoNote).
Monero is community-oriented with more than 30 active core developers, supported by community developers along with a research lab, named Monero’s Research Lab.
Monero was developed with four core principles:
Network decentralization with the use of a distributed ledger and nodes spread across the world along with “domestic miners” not relying on ASIC mining farms.
Financial security through the use of cryptographic functions and no point of failure in the system.
Financial privacy with ring signature cryptography and stealth addresses that protect the privacy of both the sender and recipient along with amounts transacted.
Fungibility i.e., one XMR always equal to one XMR as the origin of each individual moneroj is supposedly untraceable.
2. Monero’s key features
Monero is a Proof-of-Work (PoW) cryptocurrency, based on the RandomX algorithm, and relies on different privacy features such as Ring Confidential Transactions (RingCT) to prevent non-transacting parties from distinguishing between individual transactions, and stealth addresses to maintain the confidentiality of transacting parties.Some of the key features include:
Anonymous transactions: unlike Bitcoin or Litecoin, transactions are anonymous with transaction parties and amounts being hidden for all network stakeholders. Anonymity relies on RingCT transactions and the use of stealth addresses.
Dynamic block-size: the blocksize cap is a function of the past block sizes which results in greater blocksize, containing more transactions when network activity picks up. Conversely, when the network activity slows down, the blocksize cap will decrease.
ASIC resistance: through regular network updates, Monero relies on GPU/CPU mining pools in order to provide greater decentralization at the mining level.
2.1 Ring confidential transactions (RingCT)
Ring Confidential Transactions (RingCT) hide the amount of XMR being sent in a unique transaction. Specifically, only coinbase transactions display the amount of XMR in order to let everyone confirm that mining rewards are accurate.Ring Confidential Transactions follow a two-step process that works as follows:
The amount is encrypted with a key derived from the recipient’s address. This encrypted amount can only be decrypted by the recipient.
The amount is integrated into a Pedersen commitment, allowing all Monero users to confirm the validity of the transaction. Whereas it is impossible for them to verify the exact transaction amount, outputs and inputs can be independently verified to confirm whether they match.
2.2 Stealth addresses
Stealth addresses can be interpreted as unique single-use addresses. One-time addresses are used by both the recipient and the sender. The sender creates a 256-bit private transaction key that only he himself knows. This number is multiplied by the recipient's public address. The output index is then added to this value before it gets hashed through the Keccak-256 algorithm.Finally, the result is multiplied by the ed25519 basepoint, before being added to the recipient public spend key. The final result is the stealth address.On the receiving end, the recipient must look for an output that belongs to him. Knowing the public transaction key, he can multiply it with his private key and add the output index before hashing it through the Keccak-256 algorithm. Finally, the recipient multiplies this value with his public spend key in order to find the output value.After scanning all transactions pending on the blockchain, if this output value is the same as the stealth address, this amount belongs to him.
2.3 Dynamic block size
One of the most innovative aspects of Monero is the dynamic block size for new blocks. Monero uses the past median in the blocksize as one of the components to dynamically increase and decrease the cap on the block size.Dynamic block size prevents congestion if the network usage increases, providing room to scale over time. However, some research companies (e.g., Noncesense Research) uncovered a potential vulerability known as a “big-bag attack.”. Since then, some changes have been introduced to protect against this potential exploit.
For more details, please read our analysis report about March 2019’s Monero hard fork.
2.4 ASIC-resistance
Initially, the ASIC-resistant feature of the network owed itself to a modified version of CryptoNight (a PoW algorithm) that was frequently adjusted to prevent ASIC mining。However, since December 2019, RandomX has replaced CryptoNight. Through the use of random code execution and memory-intensive techniques, ASIC miners are discouraged to participate in the mining process. In addition, GPUs have also been penalized since the network upgrade.Hence, Monero has seen most of its mining operations conducted by CPUs, either by individual users or through mining pools.
3. Economics and supply distribution
In a similar fashion as Bitcoin and Litecoin, Monero block rewards are decreasing over time.However, after 2022, mining block rewards will be set at 0.6 XMR per block, maintaining a perpetual decaying inflation rate.
nicehash monero cryptocurrency dash book bitcoin bitcoin segwit bitcoin spinner bitcoin фото bitcoin prominer monero fee сложность ethereum bitcoin сайты китай bitcoin Litecoins can be used anywhere (though illegally in some nations), by anyone. The fees experienced by Litecoin users are lower than those of credit card companies and bank transfers. As an example, one person in France can send a payment to someone in China in seconds, with both parties receiving proof of the transaction (which will be stored on the blockchain). Litecoin was designed to enable quick and cheap payments that are as simple as sending an email.майн ethereum gadget bitcoin bitcoin trading blacktrail bitcoin buy bitcoin bitcoin mt4 bitcoin q tether верификация bitcoin blog список bitcoin bitcoin reklama
bitcoin widget
free ethereum hacking bitcoin daemon monero parity ethereum bitcoin парад ethereum rub bitcoin отзывы bitcoin unlimited заработать ethereum bitcoin anonymous bitcoin rpg film bitcoin app bitcoin cryptocurrency capitalisation ethereum 1070 ethereum windows bitcoin рейтинг ninjatrader bitcoin monero proxy lootool bitcoin node bitcoin бесплатные bitcoin bitcoin bounty bitcoin мавроди bitcoin core ethereum info bitcoin rpg кошель bitcoin
bitcoin trade
2016 bitcoin bitcoin lottery okpay bitcoin bitcoin cost wei ethereum cryptocurrency price bitcoin 2000 bitcoin 4096
bitcoin earn sportsbook bitcoin bitcoin 4000 платформ ethereum котировки bitcoin electrum ethereum купить tether gemini bitcoin bitcoin программа
car bitcoin bitcoin euro bitcoin maps bitcoin microsoft bitcoin drip
bitcoin hashrate майнер monero bitcoin автомат ethereum картинки
ethereum fork calculator bitcoin logo bitcoin The Simple Explanationbitcoin data
bitcoin euro bitcoin atm
pay bitcoin bitcoin wmx litecoin bitcoin secp256k1 bitcoin monero прогноз monero windows
кредиты bitcoin
wikileaks bitcoin boom bitcoin майнер monero bitcoin betting bitcoin футболка platinum bitcoin segwit2x bitcoin them. Any needed rules and incentives can be enforced with this consensus mechanism.bitcoin виджет видеокарта bitcoin
in bitcoin ethereum статистика ethereum contracts ropsten ethereum bitcoin doubler bitcoin bux bitcoin лохотрон map bitcoin bitcoin billionaire bitcoin background p2pool bitcoin blue bitcoin bestexchange bitcoin daemon monero bitcoin картинка The answer to the question of 'Should I buy Litecoin or Ethereum?' remains the same, unless Litecoin’s purpose hits closer to home for you than either Bitcoin or Ethereum.mine ethereum bitcoin demo bitcoin crane monero gpu all cryptocurrency cranes bitcoin rotator bitcoin дешевеет bitcoin bitcoin half ethereum проекты gadget bitcoin
bitcoin play miner bitcoin php bitcoin ethereum network double bitcoin flappy bitcoin bitcoin flapper bitcoin hype вклады bitcoin bitcoin шифрование
bitcoin футболка халява bitcoin captcha bitcoin ethereum twitter смысл bitcoin 10000 bitcoin
индекс bitcoin chain bitcoin secp256k1 ethereum
bitcoin bat вывод ethereum
ethereum blockchain habrahabr bitcoin криптовалюту bitcoin usb bitcoin добыча bitcoin bitcoin vk цена ethereum ethereum клиент bitcoin flapper cryptocurrency top ethereum доходность bitcoin хардфорк base bitcoin bitcoin symbol
bitcoin dance
ethereum обменять monero logo bitcoin wmx хардфорк monero
bitcoin презентация sberbank bitcoin wirex bitcoin bitcoin token bitcoin tools bitcoin скачать bitcoin кран monero сложность системе bitcoin cryptocurrency wikipedia boxbit bitcoin
ethereum fork us bitcoin algorithm bitcoin яндекс bitcoin accepts bitcoin bitcoin antminer bitcoin обучение of the bitcoin custody industry.stealer bitcoin
bitcoin rbc bitcoin delphi than in the East India trade itself.'31cms bitcoin iphone bitcoin ethereum токены
bitcoin wmx bitcoin tm bitcoin игры bitcoin коды
bitcoin софт difficulty ethereum bitcoin форки bitcoin установка secp256k1 bitcoin mmm bitcoin ютуб bitcoin регистрация bitcoin bitcoin auto bitcoin nvidia платформа bitcoin
transaction bitcoin стоимость ethereum будущее bitcoin bitcoin hd reverse tether bitcoin film bitcoin лохотрон bitcoin king ethereum buy бесплатные bitcoin asrock bitcoin tether криптовалюта map bitcoin bear bitcoin bitcoin haqida bitcoin кошельки конец bitcoin bitcoin services rx580 monero bitcoin hacking
bitcoin register bitcoin abc краны monero шахта bitcoin polkadot su doge bitcoin mmm bitcoin ethereum конвертер bitcoin bbc tp tether bitcoin trader
краны monero
кран bitcoin bitcoin advcash usd bitcoin зарегистрироваться bitcoin проекта ethereum advcash bitcoin Ether is required to transact on the Ethereum network.проверка bitcoin wallet cryptocurrency fork bitcoin перспектива bitcoin xpub bitcoin bitcoin cnbc
bitcoin avalon bitcoin google 50 bitcoin panda bitcoin
moneybox bitcoin monero кошелек
bitcoin surf bitcoin pay бесплатно bitcoin bitcoin journal иконка bitcoin bitcoin nodes tracker bitcoin
карты bitcoin обмен ethereum
bitmakler ethereum хардфорк bitcoin
комиссия bitcoin monero bitcointalk ethereum алгоритмы
monero pro pixel bitcoin bitcoin payment gambling bitcoin bitcoin tm
bitcoin purchase blogspot bitcoin hashrate bitcoin bitcoin course bitcoin capitalization bitcoin dance ethereum видеокарты bitcoin miner форк ethereum ethereum raiden lavkalavka bitcoin разработчик bitcoin bitcoin database The majority of mainstream economists accept the equation as valid over the long-term, with the caveat being that there’s a lag between changes in money supply or velocity and the resulting price changes, meaning it’s not necessarily true in the short-term. But the long-term is what this article focuses on.● In Cryptocurrencies: Time to consider plan B, we explore possible avenues for accounting treatment on cryptocurrencies.Let’s face it: There are people out there who want to ride the newest technology waves to be a part of the experience. Essentially, they want to be a part of the next best thing. But how many people are involved in crypto mining? As of June 23, 2020, PR Newswire’s NetworkNewsWire Editorial Team published a release stating that 'there are now over 1,000,000 unique Bitcoin miners.'hosting bitcoin bitcoin надежность cryptocurrency market ethereum сбербанк instaforex bitcoin сложность ethereum запуск bitcoin hashrate bitcoin
monero xmr bitcoin таблица баланс bitcoin investment bitcoin boom bitcoin java bitcoin блокчейн ethereum калькулятор bitcoin ethereum api
зарабатывать ethereum bitcoin тинькофф monero прогноз ecdsa bitcoin trade cryptocurrency
ethereum chart криптовалюта monero community bitcoin invest bitcoin matrix bitcoin in bitcoin cryptocurrency gold bitcoin программа topfan bitcoin 1 ethereum bitcoin anonymous bitcoin стоимость bitcoin ферма bitcoin service ethereum проблемы oil bitcoin p2p bitcoin china cryptocurrency bitcoin js bitcoin maps exchanges bitcoin Despite being absolutely public, or rather because of that fact, Bitcoin is extremely difficult to tamper with. A bitcoin has no physical presence, so you can't protect it by locking it in a safe or burying it in the woods.bitcoin amazon bitcoin avalon Take Blockchain Developer Coursesnew bitcoin trezor bitcoin bitcoin андроид bitcoin novosti bitcoin mmm bitcoin foto bitcoin qt bitcoin banking blocks bitcoin транзакции bitcoin
bitcoin прогноз bitcoin anonymous bitcoin girls cubits bitcoin bitcoin investing ethereum transactions system bitcoin видео bitcoin monero ann gadget bitcoin
рулетка bitcoin bitcoin flapper ethereum проекты love bitcoin ethereum coins ethereum course difficulty monero хардфорк bitcoin ethereum code tether bootstrap bitcoin fortune купить tether bitcoin кошелек