Miners are currently extracting 90% of privacy-centric password currency Monero (XMR) and purifying the rest by May 2022, when the data of the monitoring resource Monero Blocks confirmed on December 20 is.
Monero, the developer’s anonymous use of coins, will eventually provide 18.4 million XMR.
So far, a total of 16,659,407 XMRs can be used.
When all coins are mined, unlike Bitcoin (BTC), which receives a fixed supply, Monero continues to create 0.6 XMR block compensation, a feature known as “tail release” after 2022 To do.
Moneropedia explains how miners can secure incentives to keep their networks safe:
“Due to the dynamic block size, fees are reduced due to competition between miners. If mining is not profitable due to high costs and low compensation, stop mining to lose miners’ incentives, Reduce network security.Tail emission can develop a dynamic block size and fee market. “
Despite this feature, Monero is unlikely to become an inflation password currency by issuing a technical limit of 0.6 XMR per block. Coins lost or placed during the same period are bigger than block compensation.
Monero gained popularity with hackers and cyber criminals in this year’s controversial discussion about hard-fork tail release, fighting negative public relations despite anonymity.
As Cointelegraph reported this fall, in 2018, “password jacking”, a process in which hackers secretly mine decryption using passwords, became widespread. Cryptojackers, generally according to Monero, reports.