User reviews, payment system information Monero
Monero is a peer-to-peer payment system with the same settlement currency based on the cryptographic protocol CryptoNote.
Thanks to the ability to quickly and profitably mine coins on Monero devices, it turns out to be more decentralized and less vulnerable. It is based on the rare CryptoNote protocol (Proof-of-work principle), developed for a family of anonymous cryptocurrencies, therefore each client’s wallet is cryptographically protected and is known only to its owner.
It is worth noting that Monero mining has cardinal differences from the mining of other cryptocurrencies: ASIC type equipment is not applicable, 32-bit architecture is not supported, the block confirmation process takes 2 minutes and does not depend on how many miners are involved in it.
Mining: cloud mining farms, using the purchase and sale on exchangers, as well as using Monero cranes - coin distribution services.
Advantages of the system:
- Unlimited mining
- Faster processing of new blocks
- A huge number of network members
- Cryptocurrency anonymity
- Limited emissions
- The asset can be used in various online stores when purchasing goods and services, and it is impossible to track payments on the blockchain.