Monero was created for a specific reason: to be an alternative digital currency to Bitcoin that is private and anonymous. Unlike Bitcoin, Monero is an untraceable 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, transactions cannot be linked to a particular user.

Unfortunetly Monero is suffering from several drawbacks 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 MoneroV was born.

Coin Supply

MoneroV adheres to core Austrian school of economics principles andof 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).



XMR holders received 10-times the amount of XMV after the hard-fork.

Scaling

MoneroV plans to tackle the scaling issues, which is the main source of problems in Monero and integrate theprotocol so that the blockchain size will beusing MoneroV (not the number of transactions being made in the network). This will significantly, permanently solving the scaling problem.

MoneroV will also take a more pragmatic approach when it comes to end-user applications and usage for example, introducing a light MoneroV wallet 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 standard privacy wallet by default.

Mining

The growing Hash Rate of Monero is mostly due to the mass usage ofand malicious. Those miners are mostly injected by hackers and other cybercrimnals.For example the coin mining malware codenamed, which infected about 526,000 Windows hosts, generated Monero worth between. The problem is that those hackers making millions of mining Monero. MoneroV will mitigate this unethical way of mining by adjusting the Cryptonight algorithm so

Technical Comparison

MoneroV Monero Coins in circulation at hardfork ~158 million XMV (10x XMR) in Airdrop to XMR holders ~15.8 million XMR Emission per block Smooth emission decline with a 6 XMV minimum until max supply reach Smooth emission decline with a 0.6 XMR minimum for infinity Starting block 1564965 0 (Genesis) Block interval 120 seconds 120 seconds Difficulty adjustment Every block Every block Difficulty algorithm Improved LWMA Simple average ( N=720 ) PoW algorithm Cryptonight V7 Cryptonight V7

Recent News

Litecoin Foundertweeted that MoneroV is the real Monero.

Steemit Competition

Don't miss our weekly Steemit Contest where you can win! Participating is easy and the question is simple 🙂 It will get harder every week! Submission deadline is. The Winner will be announced on Sunday!