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Monero
The cryptography industry is going through a lean phase and the bearish trend continues to dominate the market. But after all, not everything is so gloomy. One of the most important private coins, Monero [XMR] It seems to be a good bet on a long-term basis. Of the 18.4 million Monero coins in circulation by 31 May 2022, the project has already extracted 90%, according to a report published by CCN.
citing Moneroblocks.info, the report says that the miners have already extracted 16 million units against the total supply of 18.4 million XMR.
The Monero project will adopt a new procurement program called "Tail Issue". According to a previous announcement of the project, miners will get a substantial mining remuneration of 0.6 XMR per block which will likely maintain the overall security and integrity of the Monero blockchain.
As for Monopedia, "If mining is not profitable due to high cost and low remuneration, miners lose their incentive and stop mining, reducing network security. in the queue ensure the possibility of developing block sizes and dynamic tariff markets. "
The operation of the Monero project is very similar to that of the Bitcoin and reduces the supply of its XMR tokens that are launched into circulation through extraction.
The Monero & # 39; s & # 39; Tail Emission & # 39; it is slightly different from that of Bitcoin. According to the report, by 2040, almost 99.8 percent of the total Bitcoin would have been extracted and this would leave only 0.2% that will be extracted over the next 100 years.
So, the only way to keep Bitcoin is that it will have to rely on chain transactions. The Bitcoin network is already testing an off-chain solution on the Lightning network, where users are not required to pay commissions to miners for the settlement of all Bitcoin transactions. And if there are no more miners, the security aspect of Bitcoin would be compromised and the network would become less secure.
On the other hand, Monero will keep the supply constant, so that the miners have a real incentive to carry on their work and after 2022 will have a clear picture of the way the coin performs the post -supply.
See also: The Ledger Nano S hardware portfolio is now compatible with Monero [XMR]
Monero's average transaction fees [XMR] drops to 2 cents after the "Bulletproof" pitchfork
Image via Shutterstock
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