Market Cap: $133B

|

Vol24: $28.66B

|

dominance: 52.04%

Miners extracted more than 90% of the Monero coins

Emission of Monero has reached 90% from the maximum amount XMR

To 31 may 2022 in circulation will be of 18.4 million coins of Monero, while to date has been mined more than 90% of the total.

The website Moneroblocks.info, a Monero blockchain explorer, states that at the moment, released 16.6 million XMR. Subsequently, the Monero project will move to a new support program called Tail Emission. According to earlier statements of the project, the miners will consistently receive remuneration in the amount of 0.6 XMR for each block. Thus will be respected the integrity and overall security of the blockchain Monero.

Moneropedia said:

"Miners need incentives for cryptocurrency mining. Since the blocks have dynamic size, competition between miners will affect the decrease in commissions".

If the mining of cryptotokens does not entail a benefit due to the high cost and low remuneration, miners cease their activities, resulting in deteriorating network security. Similar to Bitcoin’s working model, Monero also reduces the production of XMR coins that enter into circulation through mining. Currently, the remuneration amounts to 3.41 XMR for the decrypted block. However, given that the reward is programmed to decrease after each block, it will decrease until, until the value reaches 0.6 of the XMR.

Tail Emission, the new program Monero, designed to attempts to challenge the token supply mechanism of bitcoin ― the world's leading digital currency in terms of market capitalization. The maximum number of coins that can be mined in a network of Bitcoin ― 21 million. It is believed that by 2040, it would have drilled 99.8% of all bitcoins. The remaining 0.2% will be distribution within the next 100 years.

Therefore, the only incentive for bitcoin miners will be transaction fees within the network and the dominant assurance contracts. The Bitcoin network is already using off-chain solution called Lighting Network, by which users do not pay the miners fee for the stabilization of each transaction. If this practice will become a long-term solution to scaling Bitcoin, the interest of miners to confirm transactions in the main chain will reduce. In the absence of miners, the bitcoin blockchain would be less secure than it is today. After all, it is the miners that have kept it cheat-proof all this time.

Monero, in turn, will continue the regular issue coins, encouraging miners to continue their activities. Such a visionary decision suggests that the cryptocurrency Monero known for a high level of privacy is going to exist for a very long time. It is likely that Monero as some other cryptocurrency will replace Bitcoin in case of impossibility of its further development. However, the demand for XMR should be higher to suit its deflationary model.


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Stellar

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IOTA

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Dash

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NEM

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