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.
ethereum swarm курс tether bitcoin png bitcoin trojan half bitcoin bitcoin spend bitcoin life 100 bitcoin qiwi bitcoin ethereum статистика bitcoin bbc cryptonight monero сети ethereum ethereum zcash проверка bitcoin bitcoin ethereum вывести bitcoin кран monero total cryptocurrency monero cryptonote bitcoin rigs bitcoin монет майнеры monero bitcoin telegram bonus bitcoin bitcoin компьютер ethereum com bitcoin кошелька
bitcoin инвестиции
chvrches tether ethereum wallet monero hardware aml bitcoin
bitcoin market бумажник bitcoin проблемы bitcoin bitcoin сеть скачать tether miningpoolhub ethereum carding bitcoin сети bitcoin ethereum логотип bitcoin окупаемость bitcoin widget ethereum wallet bitcoin википедия bitcoin биткоин
bitcoin инвестиции bitcoin ann bitcoin торги alipay bitcoin sec bitcoin bitcoin talk bitcoin aliexpress bitcoin rbc bitcoin разделился платформу ethereum
часы bitcoin bitcoin 99
usdt tether ethereum виталий
bitcoin grafik bitcoin node монета ethereum торги bitcoin bitcoin майнить создатель ethereum bitcoin clicker ethereum транзакции little bitcoin ethereum org trezor ethereum gps tether bitcoin мошенничество bitcoin мошенничество cryptocurrency wallet мониторинг bitcoin
make bitcoin bitcoin blue secp256k1 ethereum bitcoin casascius bitcoin daily Travel the world: Because cryptocurrency isn’t tied to a specific country, traveling with crypto can cut down on money exchange fees. There’s already a small but thriving community of self-titled 'crypto nomads' who primarily, or in some cases exclusively, spend crypto when they travel.bitcoin windows bitcoin код bitcoin автомат
ethereum stratum 00000000ffff0000000000000000000000000000000000000000000000000000cryptocurrency mining kurs bitcoin Should I Buy Ethereum? All You Need to Make An Informed Decisionraiden ethereum бот bitcoin bitcoin mmgp rocket bitcoin bitcoin 3 tether provisioning
bitcoin grafik 1080 ethereum monero hardfork bitcoin sec
gek monero серфинг bitcoin bitcoin favicon etoro bitcoin bitcoin ann bitcoin analysis multiply bitcoin bitcoin node invest bitcoin bitcoin dynamics ethereum icon bitcoin changer краны ethereum иконка bitcoin bitcoin development
bitcoin genesis check bitcoin bitcoin майнить майнинг bitcoin 50 bitcoin doge bitcoin cryptocurrency forum capitalization bitcoin What are the advantages of CBDC?bitcoin разделился bitcoin forbes bitcoin машины ethereum калькулятор bitcoin amazon
бесплатно ethereum bitcoin ukraine bitcoin antminer rates bitcoin bitcoin euro bitcoin com ethereum цена bitcoin rt bitcoin mmm bitcoin таблица forum ethereum dark bitcoin bitcoin exchanges bitcoin матрица bitcoin traffic up bitcoin
bitcoin казахстан bitcoin транзакции
курсы bitcoin обменники bitcoin bitcoin доходность bitcoin analytics bitcoin аналоги the ethereum bitcoin valet car bitcoin кошелек bitcoin bitcoin drip bitcoin lottery bitcoin neteller
bitcoin alien bitcoin instaforex статистика ethereum masternode bitcoin miner monero bitcoin брокеры playstation bitcoin bitcoin протокол 99 bitcoin ethereum картинки bitcoin flapper eth ethereum video bitcoin
bitcoin видеокарты проекта ethereum запрет bitcoin dat bitcoin bitcoin 99 bitcoin maps amazon bitcoin alipay bitcoin bitcoin maps wikileaks bitcoin bitcoin forbes kraken bitcoin сеть bitcoin bitcoin rub bitcoin символ rocket bitcoin bitcoin monkey bitcoin golang bitcoin удвоить check bitcoin mixer bitcoin
теханализ bitcoin криптовалют ethereum monero fee bitcoin delphi hit bitcoin ethereum кошелек обмен tether ethereum история nxt cryptocurrency bitcoin quotes
платформы ethereum bitcoin background bitcoin anonymous bitcoin usd ethereum txid bitcoin crash bitcoin qiwi panda bitcoin 999 bitcoin alpha bitcoin
instant bitcoin adc bitcoin bitcoin adress bitcoin cc bitcoin оборудование nanopool ethereum
bitcoin прогноз blockchain ethereum q bitcoin The Bitcoin protocol utilizes the Nakamoto consensus, and nodes validate blocks via Proof-of-Work mining. The bitcoin token was not pre-mined, and has a maximum supply of 21 million. The initial reward for a block was 50 BTC per block. Block mining rewards halve every 210,000 blocks. Since the average time for block production on the blockchain is 10 minutes, it implies that the block reward halving events will approximately take place every 4 years.As of May 12th 2020, the block mining rewards are 6.25 BTC per block. Transaction fees also represent a minor revenue stream for miners.1. What is Ethereum (ETH)?bitcoin гарант token bitcoin ethereum описание луна bitcoin ethereum casper total cryptocurrency
A Standard Forex Tradecryptocurrency law bitcoin монет casper ethereum bitcoin pools tether обменник
халява bitcoin bitcoin анимация обменять ethereum bitcoin акции tether верификация amazon bitcoin майнеры monero bitcoin local circle bitcoin tether скачать хардфорк ethereum home bitcoin bitcoin calculator bitcoin golang bitcoin paper bitcoin instaforex
ethereum testnet calculator bitcoin ethereum windows
difficulty monero отзывы ethereum bitcoin это bitcoin приложение bitcoin wm bitcoin пирамиды ethereum обменять bitcoin миксер bitcoin анализ blogspot bitcoin
ethereum акции wikileaks bitcoin bitcoin buying bitcoin dynamics simple bitcoin bitcoin hype ethereum получить bitcoin people secp256k1 bitcoin bitcoin экспресс bitcoin sportsbook bitcoin китай total cryptocurrency фермы bitcoin ethereum пул баланс bitcoin bitcoin пожертвование bitcoin faucets Let’s use Bitcoin again as an example — thanks to the Bitcoin blockchain, anyone in the world who has access to the internet can now send digital payments. It’s the future! So here's one more advantage of knowing what is blockchain and added to the list.ethereum ubuntu china cryptocurrency bitcoin тинькофф monero кран love bitcoin ethereum кран ethereum code fields bitcoin bestexchange bitcoin exchange cryptocurrency ethereum programming ethereum myetherwallet цена bitcoin loan bitcoin bitcoin aliexpress Although the Cypherpunks emerged victorious from the first Crypto Wars, we cannot afford to rest upon our laurels. Zooko has experienced the failure of Cypherpunk projects in the past and he warns that failure is still possible.bitcoin help bitcoin знак ethereum gold купить ethereum
bitcoin earning bitcoin site
bitcoin double bitcoin electrum accepts bitcoin metropolis ethereum bitcoin обменник взлом bitcoin bitcoin galaxy linux bitcoin bitcoin 99 accept bitcoin разделение ethereum bitcoin бонусы
bitcoin майнить collector bitcoin bitcoin spinner
bitcoin utopia ethereum core bitcoin telegram bitfenix bitcoin котировки ethereum airbit bitcoin group bitcoin bitcoin nachrichten будущее ethereum ethereum платформа ethereum miner 1 bitcoin blue bitcoin график ethereum talk bitcoin pizza bitcoin bitcoin принимаем
bitcoin wm casper ethereum monero fee обмен bitcoin компания bitcoin бонусы bitcoin bitcoin тинькофф boxbit bitcoin case bitcoin blockchain ethereum bitcoin bonus bitcoin vizit майнер ethereum bitcoin сигналы coin ethereum monero краны bitcoin лучшие bitcoin price ethereum создатель etherium bitcoin bio bitcoin server bitcoin 1000 bitcoin ротатор bitcoin bitcoin redex bitcoin банкнота bitcoin реклама
lealana bitcoin nodes bitcoin bitcoin cnbc chaindata ethereum вывести bitcoin windows bitcoin кошелька ethereum bitcoin hesaplama
таблица bitcoin bitcoin information математика bitcoin
bitcoin investment bitcoin forbes
перспектива bitcoin майнеры monero сбербанк bitcoin ethereum addresses bitcoin казино bitcoin крах криптовалюта tether
bitcoin alpari fasterclick bitcoin миллионер bitcoin monero биржи By keeping a full copy of the blockchain aka a Full Nodejava bitcoin wikileaks bitcoin fox bitcoin email bitcoin fx bitcoin bitcoin компьютер bitcoin nedir bitcoin reddit darkcoin bitcoin
bitcoin cloud bitcoin symbol flypool ethereum bitcoin qiwi настройка monero логотип bitcoin
крах bitcoin bitcoin депозит bitcoin banking monero криптовалюта wired tether bitcoin easy bitcoin книга ethereum курсы reddit cryptocurrency win bitcoin alpari bitcoin change bitcoin airbit bitcoin ecdsa bitcoin claymore monero bitcoin switzerland bitcoin poloniex bitcoin redex monero gui phoenix bitcoin bitcoin cryptocurrency bitcoin minergate nvidia bitcoin reward bitcoin опционы bitcoin bitcoin fees выводить bitcoin символ bitcoin earnings bitcoin bitcoin hash boxbit bitcoin bitcoin майнинг abi ethereum bitcoin кредит bitcoin flex bitcoin io explorer ethereum Code repositorygithub.com/litecoin-project/litecoinbitcoin форекс bitcoin background
Given its volatile price swings, bitcoin might not be an ideal investment for retirement. Yet some financial services firms now offer the option of investing in the cryptocurrency through self-directed Individual Retirement Accounts (IRAs). Bitcoin IRA, one of the earliest providers in this space, claims to have processed $400 million in client retirement investments in the digital currency space as of March 2020.1The legacy Bitcoin block has a block size limit of 1 megabyte, and any change on the block size would require a network hard-fork. On August 1st 2017, the first chain split occurred, leading to the creation of Bitcoin Cash (BCH), which introduced an 8 megabyte limit per block.Conversely, Segregated Witness was a soft-fork: it never changed the transaction block-size limit of the network. Instead, it has added an extended block with an upper limit of 3 megabytes, which contains solely witness signatures, to the 1-megabyte block that contains only transaction data. This new block type can be processed even by nodes that have not completed this protocol upgrade.Furthermore, the separation of witness signatures from transaction data solves the malleability issue of blockchains using the Nakamoto consensus. Without Segregated Witness, these signatures could be altered before the block is validated by miners. Indeed, alterations can be done in such a way that if the system does a mathematical check, the signature would still be valid. However, since the values in the signature are changed, the two signatures would create vastly different hash values.For instance, if a witness signature states '6,' it has a mathematical value of 6, and would create a hash value of 12345. However, if the witness signature were changed to '06', it would maintain a mathematical value of 6 while creating a (faulty) hash value of 67890.Since the mathematical values are the same, the altered signature remains a valid signature. Hence, this would create a bookkeeping issue, as transactions in Nakamoto consensus-based blockchain networks are documented with these hash values or transaction IDs. Effectively, one can alter a transaction ID to a new one, and the new ID can still be valid.This can create many issues as illustrated below:bitcoin base bitcoin valet plus bitcoin bitcoin автоматически usa bitcoin блок bitcoin bitcoin блокчейн bitcoin kz
сети bitcoin bitcoin график bitcoin etf bitcoin background bitcoin analytics bitcoin euro zcash bitcoin bitcoin покупка bitcoin магазины фото bitcoin ethereum client 600 bitcoin sberbank bitcoin 2018 bitcoin ethereum gas bonus bitcoin reklama bitcoin tether скачать падение ethereum ads bitcoin bitcoin skrill bitcoin demo ethereum faucet nya bitcoin конференция bitcoin bitcoin puzzle
is bitcoin bitcoin валюты Not controlled by a central authority (such as The United States Federal Reserve)How Will Blockchain Disrupt Industries?bitcoin fx ethereum кошельки форум bitcoin ico cryptocurrency bitcoin ios ethereum кошельки bitcoin компьютер bitcoin 2010 bitcoin cloud
mining cryptocurrency community bitcoin bitcoin etherium bitcoin обмена реклама bitcoin bitcoin icons
bitcoin майнер bitcoin knots bitcoin презентация cryptocurrency bitcoin ethereum casino
hacking bitcoin email bitcoin accepts bitcoin p2pool ethereum
ethereum complexity
bitcoin заработать
999 bitcoin tether usb bitcoin программирование wallet cryptocurrency скрипт bitcoin рулетка bitcoin настройка monero bitcoin center
goldsday bitcoin ethereum forum bitcoin вложить monero сложность партнерка bitcoin split bitcoin bitcoin карты wifi tether cardano cryptocurrency bitcoin фарминг simple bitcoin
bitcoin trading tether gps blitz bitcoin
bitcoin бесплатно buying bitcoin android tether
bitcoin explorer программа ethereum
bitcoin count майнер ethereum roboforex bitcoin
видеокарты bitcoin продам bitcoin ethereum фото ubuntu bitcoin alpari bitcoin bitcoin видеокарты bitcoin blue habrahabr bitcoin
analysis bitcoin bitcoin alien monero hashrate sec bitcoin вывод bitcoin rpg bitcoin bitcoin fire ethereum microsoft bitcoin circle 1000 bitcoin rush bitcoin bubble bitcoin порт bitcoin ethereum проект bitcoin new bitcoin course
bitcoin euro KEY TAKEAWAYSlove bitcoin Modern currency includes paper currency, coins, credit cards, and digital wallets—for example, Apple Pay, Amazon Pay, Paytm, PayPal, and so on. All of it is controlled by banks and governments, meaning that there is a centralized regulatory authority that limits how paper currency and credit cards work.panda bitcoin bitcoin daily bitcoin air системе bitcoin
bitcoin вконтакте bitcoin make ethereum купить pplns monero
падение ethereum эпоха ethereum bitcoin chart bitcoin проблемы bitcoin qazanmaq puzzle bitcoin bitcoin paper bitcoin attack boom bitcoin mist ethereum bitcoin usb bitcoin income bitcoin лучшие стоимость ethereum
sberbank bitcoin Each group in the system has their own incentives. Those incentives are not always 100% aligned with all other groups in the system. Groups will propose changes over time which are advantageous for them. Organisms are biased towards their own survival. This commonly manifests in changes to the reward structure, monetary policy, or balances of power.top tether инструмент bitcoin bitcoin ваучер 1080 ethereum bitcoin map ethereum контракт usb tether почему bitcoin bitcoin gambling bitcoin easy bitcoin бонусы 22 bitcoin bitcoin daily monero fee bitcoin капча bitcoin сатоши bitcoin kran bitcoin community комиссия bitcoin bitcoin sportsbook bitcoin trading takara bitcoin майн ethereum crococoin bitcoin bitcoin froggy etoro bitcoin monero xmr bitcoin example antminer ethereum bitcoin video ethereum регистрация space bitcoin
mine monero bitcoin аналитика bitcoin bcn 