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The miners have now extracted 90% of Monero cryptocurrency (XMR) focused on privacy and the rest by May 2022, data from the Monero Blocks monitoring resource were confirmed on 20 December.
Monero – whose developers put anonymity and unlimited use of coins as a priority – will have a final supply of 18.4 million XMRs.
So far, a total of 16.659.407 XMR is available.
Unlike Bitcoin (BTC) – which has a fixed supply once all the coins have been mined – Monero will continue to generate infinite XMR block premiums 0.6 infinitely after 2022, a feature known as "tail emission".
This is to ensure that the miners have an incentive to keep the network safe, explains the reference bank Moneropedia, stating:
"Due to the dynamic blockade, competition between miners will decrease tariffs, and if mining is not profitable due to high cost and low remuneration, miners lose their incentive and stop Mining, reducing network security The issue of the queue ensures that a dynamic dimension of the block and a paid market can be developed. "
Despite the feature, it is unlikely that Monero will become an inflationary cryptocurrency, due to the technically unlimited issuance of 0.6 XMR per block. Lost or burned coins are probably worth more than the block premium in the same period.
After the controversy over the issue of the tail during the tough setback of this year, Monero fought against negative publicity, despite his anonymity in the meantime made him a favorite of hackers and cybercriminals.
As Cointelegraph reported this fall, the "encryption", the process by which hackers use a device to secretly and remotely extract the cryptocurrency without the owner's knowledge, has predominantly jumped in 2018. Cyber criminals generally prefer to extract coins focused on anonymity, like Monero, according to reports.
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