Monero (XMR) tries to be more open and accessible compared to other crypto currencies such as Bitcoin (BTC) or Ethereum (ETH). Instead of expensive special hardware (ASICs) or expensive graphics cards, the main processor (CPU) is sufficient for calculating Monero blocks. The algorithm used is even specifically optimized for commercially available hardware.
More users should be able to participate directly in the network, which helps with the second distinguishing feature: Monero wants to be as anonymous as possible and the more nodes there are, the more difficult it is to trace the path of a transaction. Except for those directly involved, nobody should be able to understand who is trading with whom – unlike the top dogs Bitcoin and Ethereum.
The entry hurdle is deliberately kept low, in principle anyone can get started with a reasonably up-to-date processor, calculate hashes and receive rewards for them. Especially since not only x86 processors from AMD and Intel, but also ARM processors are supported. In the wake of the general cryptocurrency boom, Monero has appreciated significantly in value. At just under 200 euros instead of around 40 euros per Monero a year ago, mining also appears increasingly worthwhile in this country. We show how it’s done and what comes out of it in the end.
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