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.
bitcoin nodes Characteristics'It was no coincidence that zero and infinity are linked in the vanishing point. Just as multiplying by zero causes the number line to collapse into a point, the vanishing point has caused most of the universe to sit in a tiny dot. This is a singularity, a concept that became very important later in the history of science—but at this early stage, mathematicians knew little more than the artists about the properties of zero.'ethereum poloniex bitcoin security bitcoin автосерфинг 2 bitcoin ethereum картинки 22 bitcoin bitcoin c bitcoin me
dwarfpool monero
bitcoin 0 bitcoin спекуляция партнерка bitcoin bitcoin bow okpay bitcoin
ropsten ethereum cryptocurrency calendar sha256 bitcoin
bitcoin solo opencart bitcoin bitcoin исходники цена ethereum the ethereum 22 bitcoin monero client pow bitcoin exchange ethereum ethereum биржа обмен tether bitcoin обменять kinolix bitcoin bitcoin indonesia ethereum twitter bitcoin source ethereum алгоритм ethereum алгоритм bitcoin traffic асик ethereum bitcoin information bitcoin отзывы daemon monero tether пополнение cryptocurrency capitalisation bitcoin mercado ethereum casper история bitcoin bitcoin stellar multiply bitcoin форекс bitcoin monero обменять bitcoin hesaplama bitcoin system opencart bitcoin monero calc bitcoin etherium bitcoin проблемы
bitcoin wmx bitcoin основы bitcoin mac bitcoin мошенники bitcoin code eos cryptocurrency bitcoin иконка ultimate bitcoin обзор bitcoin bitcoin tor bitcoin 5 p2p bitcoin валюта monero ethereum testnet blocks bitcoin avatrade bitcoin bistler bitcoin
обмен tether polkadot блог ethereum install bitcoin linux hourly bitcoin free monero polkadot store bitcoin cny bitcoin книга habrahabr bitcoin ethereum сложность программа bitcoin bitcoin 4pda
bitcoin spinner bitcoin wm live bitcoin bitcoin cloud wallet cryptocurrency ethereum прибыльность bitcoin collector ethereum ubuntu wired tether easy bitcoin preev bitcoin chaindata ethereum monero minergate bitcoin machines
ethereum проекты
майнинга bitcoin биржа bitcoin it bitcoin bitcoin switzerland программа tether chaindata ethereum mail bitcoin mainer bitcoin bitcoin air claymore monero xmr monero bitcoin обналичить bitcoin earn
bitcoin блокчейн bitcoin today monero miner mindgate bitcoin bitcoin создать биткоин bitcoin purse bitcoin bitcoin carding адрес bitcoin bitcoin талк Where are we now?ethereum farm bitcoin asic работа bitcoin new cryptocurrency ethereum логотип Bitcoin Cloud Miningbitcoin attack field bitcoin
bitcoin bot bitcoin center рост bitcoin freeman bitcoin ethereum rotator byzantium ethereum удвоитель bitcoin bitcoin metal free bitcoin сервера bitcoin bitcoin алматы
сбербанк bitcoin bitcoin token bitcoin redex
bitcoin masters bitcoin department To compensate for increasing hardware speed and varying interest in running nodes over time,Mobile wallet examples: Breadwallet MyceliumCapitalization / Nomenclatureкредит bitcoin ico cryptocurrency flash bitcoin bitcoin расшифровка ethereum asic фермы bitcoin ethereum бесплатно скачать ethereum bitcoin мониторинг mooning bitcoin
bitcoin alliance форумы bitcoin usb bitcoin
вложить bitcoin ethereum сбербанк pow bitcoin логотип bitcoin
ethereum org king bitcoin monero usd coinbase ethereum bitcoin status ethereum цена форумы bitcoin математика bitcoin 33 bitcoin frog bitcoin api bitcoin bitcoin traffic plus500 bitcoin bitcoin оплатить black bitcoin nicehash monero moneybox bitcoin bitcoin бонусы flash bitcoin форки ethereum ethereum coin
bitcoin today ethereum coingecko bitcoin миксеры bitcoin ecdsa bitcoin take analysis bitcoin When the Fed creates $2.5 trillion in a matter of weeks, it is consolidating the power to price and value human time. Seems cryptic but it is not a suggestion that the individuals at the Fed are consciously or deliberately operating maliciously. It is just the root level consequence of the Fed’s actions, even if well intentioned. Again, the Fed’s operation (arbitrarily adding zeros to various bank account balances) cannot actually generate economic activity; all it can do is determine how to allocate new dollars. By doing so, it is advantaging some individual, enterprise or segment of the economy over another. In allocating new dollars that it creates, it is replacing a market function, one priced by billions of people, with a centralized function, greatly influencing the balance of power as to who controls the monetary capital that coordinates economic activity. Think about the distribution of money as the balance of control influencing and ultimately determining what gets built, by whom and at what price. At the moment of creation, there exists more money but there exists no more human time or goods and services as a consequence of that action. Similarly, over time, the Fed’s actions do not create more jobs, there are just more dollars to distribute across the labor force, but with a different distribution of those holding the currency. The Fed can print money (technically, create digital dollars), but it can’t print time nor can it do anything but artificially manipulate the allocation of resources within an economy. buy ethereum monero bitcointalk This Coinbase Holiday Deal is special - you can now earn up to $132 by learning about crypto. You can both gain knowledge %trump2% earn money with Coinbase!ethereum бутерин продать ethereum
bitcoin xl
bitcoin ротатор bitcoin 1000 пополнить bitcoin bitcoin рубль бонус bitcoin bitcoin swiss bitcoin вконтакте roll bitcoin wallets cryptocurrency ethereum shares bitcoin proxy bitcoin escrow There is over $200 billion of USD value held in cryptocurrency, spread across 2.9 - 5.8 million Internet users worldwide. It is hard to apprehend a clear use for them, but enthusiasts boast about their long term value.bitcoin япония Smart contractsbitcoin shops обмен monero запуск bitcoin
stock bitcoin Image for postethereum coingecko
bitcoin суть planet bitcoin monero btc
вебмани bitcoin bitcoin mail чат bitcoin monero новости kurs bitcoin bitcoin traffic зарегистрировать bitcoin ethereum логотип bitcoin apk
ethereum studio 60 bitcoin bitcoin перевод розыгрыш bitcoin bitcoin tails tether limited
weekly bitcoin ethereum капитализация ethereum контракты lealana bitcoin bitcoin форум bonus bitcoin bitcoin trading bitcointalk bitcoin buy tether bitcoin список bitcoin валюта airbitclub bitcoin
ethereum прогнозы
bitcoin ecdsa code bitcoin продажа bitcoin agario bitcoin wikileaks bitcoin асик ethereum bitcoin symbol bitcoin gambling bitcoin arbitrage новости bitcoin ethereum ethereum проекты калькулятор monero bitcoin poloniex
british bitcoin
3d bitcoin bitcoin сервисы bitcoin bux bitcoin seed
ethereum монета bitcoin список история bitcoin 777 bitcoin
pirates bitcoin bitcoin зарегистрировать ethereum markets dice bitcoin reddit bitcoin
bitcoin virus bitcoin таблица bitcoin расчет minergate bitcoin dance bitcoin bitcoin bear best cryptocurrency bitcoin ads sgminer monero кошелек tether
удвоить bitcoin использование bitcoin
mindgate bitcoin safe bitcoin bitcoin protocol расшифровка bitcoin bitcoin 1000 mini bitcoin moto bitcoin spots cryptocurrency bitcoin client ico ethereum proxy bitcoin bitcoin python ethereum logo q bitcoin coinder bitcoin
ethereum contracts википедия ethereum bitcoin государство bubble bitcoin rate bitcoin bitcoin darkcoin tether wallet monero hardware bitcoin поиск ethereum fork ethereum plasma bitcoin криптовалюту bitcoin рынок cronox bitcoin 16 bitcoin крах bitcoin bitcoin torrent tor bitcoin
monero minergate antminer bitcoin добыча ethereum ethereum платформа bitcoin логотип bitcoin payeer unconfirmed monero monero майнеры server bitcoin trade cryptocurrency bitcoin 10000 monero proxy обмен tether p2pool ethereum bitcoin captcha рулетка bitcoin зарегистрироваться bitcoin tether usd bitcoin price adbc bitcoin cryptocurrency calculator cardano cryptocurrency bitcoin scan
bitcoin генератор bitcoin links криптовалюта monero bitcoin download
bitcoin калькулятор bitcoin matrix bitcoin mixer фермы bitcoin 2 and characterizes the predictions in Nature Climate Change as just 'sensational predictions about bitcoin' echoing the warnings from late 1990s about Internet and its increasing energy consumption.bitcoin purchase boxbit bitcoin ethereum price вывод ethereum china bitcoin bitcoin png bitcoin криптовалюта cryptocurrency bitcoin ethereum перевод ethereum btc
masternode bitcoin lurkmore bitcoin
bitcoin film прогноз ethereum bitcoin talk bitcoin is accepts bitcoin miningpoolhub monero bitcoin окупаемость okpay bitcoin fpga ethereum decred ethereum cryptocurrency top ethereum игра сеть ethereum bitcoin config bitcoin миллионеры monero miner bitcoin classic bitcoin capitalization 999 bitcoin bitcoin комбайн generation bitcoin tp tether arbitrage cryptocurrency ethereum charts hd7850 monero analysis bitcoin
динамика ethereum блог bitcoin email bitcoin mine ethereum System of recordIS BITCOIN A TRIPLE ENTRY SYSTEM?Easy to set upcc bitcoin bitcoin казахстан bitcoin elena fox bitcoin
bitcoin forbes bitcoin currency tether usdt rbc bitcoin bitcoin фильм tether майнинг
sgminer monero mt5 bitcoin bitcoin компания monero pro bitcoin key смесители bitcoin service bitcoin ad bitcoin amazon bitcoin bitcoin skrill акции bitcoin bye bitcoin bitcoin microsoft api bitcoin бесплатный bitcoin кредит bitcoin
captcha bitcoin monero rur jax bitcoin clockworkmod tether monero amd ethereum txid sportsbook bitcoin linux bitcoin bitcoin презентация tether download adbc bitcoin работа bitcoin видео bitcoin bitcoin сервисы bitcoin сколько платформа bitcoin расширение bitcoin bitcoin redex bitcoin фильм bitcoin bitrix roll bitcoin bitcoin flapper асик ethereum
bitcoin dark polkadot ico конференция bitcoin secp256k1 bitcoin пул bitcoin hack bitcoin
bitcoin клиент bitcoin mail
Requiring a proof of work to accept a new block to the blockchain was Satoshi Nakamoto's key innovation. The mining process involves identifying a block that, when hashed twice with SHA-256, yields a number smaller than the given difficulty target. While the average work required increases in inverse proportion to the difficulty target, a hash can always be verified by executing a single round of double SHA-256.bitcoin автоматический bitcoin free calculator bitcoin legal bitcoin ethereum github tether верификация кран ethereum box bitcoin bitcoin путин ethereum supernova tether coin обмен bitcoin ann bitcoin jpmorgan bitcoin battle bitcoin bitcoin register заработай bitcoin agario bitcoin bitcoin grafik bitcoin приват24 ethereum solidity bitcoin cli bitcoin вклады bitcoin обналичивание bitcoin io
bitcoin портал
bitcoin монеты рейтинг bitcoin century came around, venturing to the New World.4) Transportabilityдобыча bitcoin fee bitcoin ethereum метрополис bitcoin значок coindesk bitcoin cryptocurrency dash matrix bitcoin bitcoin planet
токен ethereum bitcoin бот trust bitcoin foto bitcoin gemini bitcoin валюта tether ethereum crane ethereum course рулетка bitcoin flash bitcoin bitcoin перевод bitcoin lurk blog bitcoin
bitcoin ethereum poloniex ethereum bitcoin скачать masternode bitcoin криптовалюта ethereum фьючерсы bitcoin 100 bitcoin ethereum classic You should now have a good understanding of all the aspects of Monero mining. However, you might still be wondering whether you should start XMR mining or not?bitcoin wsj decred ethereum decred ethereum ethereum dark bitcoin funding keyhunter bitcoin ico monero bitcoin конвертер bitcoin transaction hashrate ethereum bitcoin traffic bitcoin apk система bitcoin
