About MONERO RINGS
Monero rings is a project developed by the MONERO team, Monero Rings is a global open source project that promises to provide true personal cryptocurrency that develops. Monero Rings facilitates the desire to have a truly private and decentralized cryptocurrency that is also fast and easy for everyday use.
PROBLEM
As we know MONERO, we know it has a very high standard of anonymity and privacy, but at the same time, Monero faces several problems, namely:
- have processes that are quite slow
- Has a large transaction size than its competitors
- Lack of GUI
- Inefficiencies in mining
In this new project, Monero uses a combined POW / POS mining system, because as we know the POW system can cause losses to independent miners. Monero has made great efforts to limit the influence of mining pools that use ASIC. However, as we have seen, shadow ASIC mining still plays an important role because producers wait several months to release every new hardware model on the market, instead of using it behind the scenes to mine the maximum amount XMR as attainable. It is clear that efforts to exclude centralized traditional mining from the system have failed. In addition, more than 70% of hashrates in Monero networks are concentrated only in 3 CPU / GPU collections. Even though they do not use ASIC, they still charge a collection fee which is a large amount of profit for each user.
In Monero Rings, most blocks will still be mined using PoS, but 30% of blocks will be validated with PoS in the first stage of implementation. Any user who wants to get free XRM using this method will be able to provide proof (using a bullet proof system similar to that used to prove that all output is in the positive range and / or homomorphic encryption) that he holds a certain number of Monero Rings coins. This can be considered a slight reduction in anonymity, but most actual users don't need a lot of anonymity. The key is to provide the possibility to get XRM coins using PoS; users for complete privacy are priority who can continue to use PoW.
XRM holders who choose PoS do not need to enter the mining pool again; they can get cryptocurrency with their CPU and GPU, just like they do now, but are completely independent. The Monero Rings development team believes that this method is as efficient as reducing the presence of shadow ASIC mining by issuing hard fork updates every six months. PoS will also support decentralization, because CPU mining collections, however, are centralized structures in systems that charge fees for their own benefit.
Token
- Symbol: XRM
- Block height: 1781500
- Patch date: February 28, 2019 (estimated)
- Emissions: 30 million
- Distribution: 70% airdrop, 20% development, 10% gift
- Mining: yes - PoW with additional elements of PoS
- Maximum supply intended:
**For detailed information, please visit : **
- ANN - https://bitcointalk.org/index.php?topic=5106662.0
- Official Website - http://monero-rings.org
- Whitepaper - http://monero-rings.org/whitepaper.pdf
- Github - https://github.com/monero-ring-project/monero
- Twitter - https://twitter.com/monero_rings
- Telegram - https://t.me/monero_rings
Author :
https://bitcointalk.org/index.php?action=profile;u=2443861
