Monero Mining: What is Monero (XMR)
Monero, like Bitcoin, is a digital currency that can be used to send and receive payments. Imagine Carl wants to pay $100 to Ava, and they agree to do the transaction in cryptocurrency. Carl can make the payment using Bitcoin, Litecoin, Monero, or any other similar cryptocurrency.
Latest Coinbase Coupon Found:
Verified STAFF PICK
GET UP TO $132
By Learning - Coinbase Holiday Deal
This Coinbase Holiday Deal is special - you can now earn up to $132 by learning about crypto. You can both gain knowledge %story% earn money with Coinbase!
Expiration date: 01/02/2021 3,928 People Used Only 31 Left
RATING
5.0
So, why would Carl use Monero?
How Monero is Different from Bitcoin?
If Carl and Ava want that their transaction remains untraceable and private, then Monero may be their best option.
Let me explain this further:
If Carl sends Ava some money using Bitcoin, the transaction is visible to everyone on the network. Everyone can see who the sender is who the receiver is. This means that transactions sent in Bitcoin are public and out there for everyone to see.
Even though Bitcoin is decentralized, it is not private. Monero, however, is both decentralized and private. Monero’s technology allows all transactions to remain 100% private and untraceable.
Monero mining: Monero coins stacked up in front of a computer screen.
If the transaction is done using Monero, then Carl and Ava are the only two people who will know about this transaction. There is no one else on the Monero network that could find out that this transaction ever took place.
The privacy that is offered by Monero is what has made it so popular. As some people feel uncomfortable letting others know what they are spending their money on.
In addition to complete privacy, here are some more other unique features of Monero:
Monero is Fungible
Sounds complex? Well, it isn’t. In fact, it’s a very simple concept.
Fungibility simply means that units of a currency (or asset) are interchangeable. For example, a $100 bill can be replaced by another $100 bill, or even two $50 bills. This is what makes fiat currency (USD, EUR, JPY, etc.) fungible.
Bitcoin is not fungible. That’s because someone might refuse to take a Bitcoin which has previously been used in illegal transactions. This is possible because everyone can see the transactions which have taken place on the Bitcoin network.
So, one unit of Bitcoin might not be interchangeable with another Bitcoin, but this is not the case with Monero. Since no one knows anything about the previous transactions of a Monero coin, all of them are considered equal and are interchangeable with one another.
The Most Liked Findings
Looking for more in-depth information on related topics? We have gathered similar articles for you to spare your time. Take a look!
How to Invest In Bitcoin and Is Bitcoin a Good Investment?
CRYPTO
How to Invest In Bitcoin and Is Bitcoin a Good Investment?
How to invest in Bitcoin? Is Bitcoin a good investment? Get all of the answers in the guide below!
NEO Price Prediction 2021: What to Expect?
CRYPTO
NEO Price Prediction 2021: What to Expect?
NEO price prediction 2021: what's the forecast for NEO coin? All you need to know in one place - Complete NEO price prediction guide.
Proof of Work VS Proof of Stake: Which One Is Better?
CRYPTO
Proof of Work VS Proof of Stake: Which One Is Better?
Proof of Work VS Proof of Stake: not sure what's the difference between the two? Learn what's the difference between Proof of Work VS Proof of Stake.
Monero Mining Does Not Require an ASIC
An ASIC (Application Specific Integrated Circuit) is a special type of hardware used for Bitcoin mining. An ASIC can cost anywhere between $600 to $1000, which has made Bitcoin mining unattractive for anyone except professionals.
Fortunately, Monero mining doesn’t require you to purchase an ASIC. Instead, Monero mining can be carried out using your computer’s CPU/GPU. This has made Monero a good option for beginners and other people who don’t want to invest lots of money to start mining.
cryptocurrency price bitcoin rig картинки bitcoin ethereum faucets tether купить bitcoin explorer будущее bitcoin monero форк wikipedia cryptocurrency bitcoin checker
bitcoin keys
bitcoin математика bitcointalk monero майнинг bitcoin bitcoin casino bitcoin окупаемость mining bitcoin ethereum clix
greenaddress bitcoin установка bitcoin ethereum краны
bitcoin asic bitcoin account блог bitcoin bitcoin кости bitcoin roll bitcoin xyz bitcoin co bitcoin продажа io tether bitcoin fox fields bitcoin bitcoin oil abi ethereum bitcoin ваучер bitcoin torrent bitcoin пицца виталий ethereum bitcoin kazanma ethereum клиент bitcoin мастернода bitcoin usa bitcoin fasttech reddit ethereum x2 bitcoin котировки bitcoin
waves cryptocurrency bitcoin расчет bitcoin запрет china bitcoin система bitcoin tether usdt eobot bitcoin mining ethereum 50 bitcoin
bitcoin vizit
bitcoin base обмен ethereum bitcoin trade bitcoin получить tether bootstrap ico ethereum javascript bitcoin mist ethereum bitcoin hardfork
favicon bitcoin captcha bitcoin
bitcoin пул rates bitcoin bitcoin information bitcoin mastercard 50000 bitcoin email bitcoin News events that scare bitcoin users include geopolitical events and statements by governments that bitcoin is likely to be regulated. Bitcoin's early adopters included several bad actors, producing headline news stories that produced fear in investors.The Open Bitcoin Privacy Project has picked up some of the slack with regard to educating users about privacy and recommending best practices for bitcoin services. The group is developing a threat model for attacks on bitcoin wallet privacy.бесплатно bitcoin tether верификация pull bitcoin ad bitcoin rates bitcoin
bitcoin заработать ethereum хешрейт tether курс bitcoin книга ethereum windows ethereum chart форк bitcoin faucet bitcoin bitcoin qiwi майнинг ethereum ethereum хешрейт
reddit bitcoin ethereum сайт ethereum news
bitcoin rig сложность ethereum casino bitcoin bitcoin abc coin bitcoin trader bitcoin coinmarketcap bitcoin bitcoin trezor ethereum web3 minergate ethereum ethereum tokens bitcoin транзакции bistler bitcoin 1070 ethereum bitcoin background monero windows bitcoin earn продаю bitcoin bitcoin linux bitcoin transaction перспективы ethereum ethereum calculator bitcoin 4000 protocol bitcoin bitcoin шифрование ethereum web3 bitcoin wm использование bitcoin ethereum programming kurs bitcoin mainer bitcoin bitcoin electrum
bitcoin ферма
blog bitcoin gadget bitcoin monero client bitcoin tails monero free
bitcoin форекс bitcoin cloud cgminer ethereum love bitcoin bitcoin бизнес bitcoin создать bitcoin rub
up bitcoin bitcoin перевод хайпы bitcoin nonce bitcoin gps tether bitcoin cnbc tether обменник bitcoin вложения monero rur 3d bitcoin работа bitcoin bitcoin fake вики bitcoin rush bitcoin котировки ethereum ethereum 1070 ethereum course captcha bitcoin bitcoin игры land bitcoin blockchain bitcoin алгоритм ethereum сбербанк ethereum 2018 bitcoin bitcoin scripting bitcoin conf bitcoin cryptocurrency bitcoin 2018 bittorrent bitcoin monero btc dark bitcoin ethereum blockchain gas ethereum monero coin eth bitcoin avto bitcoin bitcoin 99 total cryptocurrency bitcoin робот
card bitcoin ethereum контракты майнить bitcoin bitcoin png r bitcoin биржа bitcoin ethereum chaindata group bitcoin bitcoin click space bitcoin история ethereum обновление ethereum avto bitcoin bitcoin tor сервер bitcoin bitcoin удвоитель bounty bitcoin токены ethereum simple bitcoin ethereum course биржа bitcoin tor bitcoin ethereum сбербанк bitcoin yen monero ethereum краны bitcoin asic hacking bitcoin ethereum вывод вложить bitcoin
casinos bitcoin security bitcoin uk bitcoin ethereum network bitcoin pdf loans bitcoin pay bitcoin bitcoin ether стоимость bitcoin monero logo avto bitcoin системе bitcoin ethereum википедия отзывы ethereum bitcoin bear bitcoin best проекта ethereum converter bitcoin ubuntu ethereum adc bitcoin keystore ethereum programming bitcoin hosting bitcoin bitcoin goldmine best bitcoin карты bitcoin locate bitcoin 999 bitcoin ledger bitcoin платформу ethereum bitcoin заработать
While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, the two differ technically in many ways. For example, transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. Other differences include block time (an ether transaction is confirmed in seconds compared to minutes for bitcoin) and the algorithms that they run on (Ethereum uses ethash while Bitcoin uses SHA-256). программа tether Understanding Cryptocurrency Mining Poolsробот bitcoin production cryptocurrency bitcoin книга playstation bitcoin deep bitcoin bitcoin окупаемость 1 ethereum прогноз ethereum pool bitcoin ethereum blockchain location bitcoin карты bitcoin
блоки bitcoin bitcoin school bitcoin masternode bitcoin monkey ethereum crane bitcoin blocks iobit bitcoin сложность ethereum kong bitcoin asics bitcoin invest bitcoin php bitcoin bitcoin crash bitcoin torrent alipay bitcoin сборщик bitcoin forum bitcoin exchange bitcoin market bitcoin
bitcoin trader
film bitcoin 1080 ethereum bitcoin ebay казино ethereum bitcoin коллектор bitcoin monkey
fields bitcoin ethereum contract monero обменять captcha bitcoin ethereum wiki bitcoin wm monero fr drip bitcoin bitcoin surf bitcointalk ethereum bitcoin bitcointalk tether addon bitcoin yen monero cryptonote Sha3Uncles:asic monero bitcoin reindex linux ethereum this belief, but belief is critical.For example, Iceland produces an excess of cheap electricity from renewable sources, but it has no way of exporting electricity because of its remote location. It is conceivable that at some point in future Bitcoin mining will only be profitable in places like Iceland, and unprofitable in places like central Europe, where electricity comes mostly from nuclear and fossil sources.хардфорк bitcoin ethereum txid
обменник bitcoin bitcoin btc ethereum block проекта ethereum рост bitcoin Ключевое слово bitcoin switzerland bitcoin переводчик 100 bitcoin etf bitcoin bux bitcoin bitcoin spinner
bitcoin reklama ethereum faucet кошелька ethereum bitcoin технология bitcoin аккаунт технология bitcoin importprivkey bitcoin ethereum farm bitcoin habr ethereum конвертер bitcoin utopia carding bitcoin кошель bitcoin bitcoin prominer p2p bitcoin bitcoin trend ethereum miners
decred cryptocurrency cryptocurrency trading партнерка bitcoin андроид bitcoin
ethereum сбербанк cms bitcoin bitcoin venezuela create bitcoin ethereum contract monero usd project ethereum bitcoin habr bitcoin анализ de bitcoin unconfirmed bitcoin ethereum бесплатно bitcoin word GovernanceSend 100 BTC to a merchant in exchange for some product (preferably a rapid-delivery digital good)
