Hardfork Monero

The Monero hard fork will take place on block 1529810 (presumably on March 14). All Monero holders will receive new coins at the rate of 10 XMV per 1 XMR. Unlike Monero, the issue of MoneroV is limited to 256 million coins. At the time of the hard fork, about 158 million XMV will be gained once. The MoneroV network will be launched in a few days. This is due to the need to test all the elements of the system, nodes, and wallets.

At the first stage, mining will take place through Proof-of-work on the CryptoNight protocol, which will be changed later. The new block will appear every 120 seconds. The reward for the block will gradually decrease and at the time of issue of 184 467 440 coins it will be 6 XMV. 5,859375% of the total issue will go to the developers’ fund for the further development of the blockchain.

The developers call the large scalability of the blockchain due to the integration of the MimbleWimble protocol one of the main advantages of the new cryptocurrency. In addition, MoneroV will provide complete anonymity of participants of the transaction.

MoneroV.png

Contents

MoneroV

MoneroV (XMV) – is an open source cryptocurrency, Monero hard fork (XMR), planned for mid-March in 2018. The developers of MoneroV say that the new cryptocurrency will be more secure and anonymous than Monero, and they also promise to solve the problem of scalability and to reduce commission fees for transactions.

Prospects

Developers plan to present an “easy” GUI-wallet and web version of the wallet in June 2018. Changes in the PoW protocol will occur at the beginning, and the implementation of the MimbleWimble protocol – in late 2019.

There is no official confirmation from the crypto exchange about the readiness to trade MoneroV yet. But it is expected that they will add the cryptocurrency to their portfolio after studying the new blockchain. Therefore, the developers recommend storing XMR on local wallets before the hard fork.

Experts note that there is a lot of competition in the anonymous cryptocurrency market. In the meanwhile, the limited issue of the new cryptocurrency gives good prospects for increasing its rate in the future.

References:


See Also on BitcoinWiki