🔎 The Difference between Monero and MoneroV
monero·@monerov·
0.000 HBD🔎 The Difference between Monero and MoneroV
 Monero was created for a specific reason: to be an alternative digital currency to Bitcoin that is <b>private and anonymous</b>. Unlike Bitcoin, Monero is an <b>untraceable</b> cryptocurrency based on the Cryptonote protocol. Transactions, amounts transferred, and wallet addresses of both senders and receivers in the Monero network are all obfuscated. Therefore, <b>transactions cannot be linked to a particular user</b>. Unfortunetly Monero is suffering from several <b>drawbacks</b> which include: - inifinite coin supply structure - scaling issues and high transaction fees - growing hash rate, mainly from malicious botnets and browser scripts Fixing these problems will require a dedicated team of full-time developers which is how <b>MoneroV was born</b>. <center><h1>Coin Supply</h1></center> <div class="pull-left">  </div> MoneroV adheres to core Austrian school of economics principles and <b>caps the total amount</b> of XMV coins that can be created to 256 million. The coin amount in circulation at the time of the hard-fork is 10 times the amount of XMR coins ( ~158 Million).<br /><br />  XMR holders received 10-times the amount of XMV after the hard-fork. <center><h1>Scaling</h1></center> <div class="pull-left">  </div> MoneroV plans to tackle the scaling issues, which is the main source of problems in Monero and integrate the <b>MimbleWimble</b> protocol so that the blockchain size will be <b>bound to the number of users</b> using MoneroV (not the number of transactions being made in the network). This will significantly <b>reduce both transaction costs and blockchain size</b>, permanently solving the scaling problem.<br /><br /> <div class="pull-left">  </div> MoneroV will also take a more pragmatic approach when it comes to end-user applications and usage for example, introducing a <b>light MoneroV wallet</b> by default so that users will not be asked to download the whole blockchain if they do not want to. Users with high privacy concerns will still have the <b>standard privacy wallet</b> by default. <center><h1>Mining</h1></center> <div class="pull-left">  </div> The growing Hash Rate of Monero is mostly due to the mass usage of <b>botnets</b> and malicious <b>browser based mining</b>. Those miners are mostly injected by hackers and other cybercrimnals. <br /><br />For example the coin mining malware codenamed <b>"Smomminru"</b>, which infected about 526,000 Windows hosts, generated Monero worth between <b>2.8 Million and 3.6 Million dollars</b>. The problem is that those hackers making millions of mining Monero <b>prevent genuine miners to compete</b>. MoneroV will mitigate this unethical way of mining by adjusting the Cryptonight algorithm so <b>browser mining wouldn't be effective anymore</b>. <center><h1>Technical Comparison</h1></center> <table> <tr> <td> </td> <td> <h3>https://cdn.steemitimages.com/DQmVE1FjAQUWvzfpgZ3dv1c7XowUtD1kwp7ckyrfzEk8qay/monerov-icon-25.png MoneroV</h3> </td> <td> <h3>https://cdn.steemitimages.com/DQmY3uDaYUZnsSFxFPEjrGTQWt423P33bzeCXFzGAEDQ8zC/monero-icon-25.png Monero</h3> </td> </tr> <tr><td>Coins in circulation at hardfork</td><td>~158 million XMV (10x XMR) in Airdrop to XMR holders</td><td>~15.8 million XMR</td></tr> <tr><td>Emission per block</td><td>Smooth emission decline with a 6 XMV minimum until max supply reach</td><td>Smooth emission decline with a 0.6 XMR minimum for infinity</td></tr> <tr><td>Starting block</td><td>1564965</td><td>0 (Genesis)</td></tr> <tr><td>Block interval</td><td>120 seconds</td><td>120 seconds</td></tr> <tr><td>Difficulty adjustment</td><td>Every block</td><td>Every block</td></tr> <tr><td>Difficulty algorithm</td><td>Improved LWMA</td><td>Simple average ( N=720 )</td></tr> <tr><td>PoW algorithm</td><td>Cryptonight V7</td><td>Cryptonight V7</td></tr> </table> <center><h1>Recent News</h1></center> Litecoin Founder <b>Charlie Lee</b> tweeted that MoneroV is the real Monero.  <center><h1>Steemit Competition</h1></center> <div class="pull-left">  </div> Don't miss our weekly Steemit Contest where you can win <b>50 XMV</b>! Participating is easy and the question is simple 🙂 It will get harder every week! Submission deadline is <b>Saturday the 9th of June</b>. The Winner will be announced on Sunday!