Monero vs MoneroV: Difference Amongst the
MoneroV is the hard fork of the Monero cryptocurrency. These currencies are privacy-focused cryptocurrencies. A hard fork occurs when an original currency deviates into two different currencies although having a similar technical base. The change that happens in the code has two versions one the newer and the older. Most of the time the names leading for both currencies are similar by adding either a prefix in the name starting or a suffix at the end of the name to make some changes in the name of the currencies. If you want to invest in bitcoin trading, then you should know the benefits of bitcoin.
MoneroV is a currency that came to vanish the flaws of its original currency, Monero. Although having originated from the same base, their working paths are different after MoneroV came from the Monero as a hard fork. The tokens for both currencies are also different. Monero uses XMR as its token, while MoneroV uses XMV as its token.
DIFFERENCES BETWEEN BOTH MONERO AND MONEROV
The two points of focus between both the currencies “privacy and anonymity”. They both share a lot of similarities. For example, the concept of stealth addresses to the ring signature for maintaining the privacy of the investors are some of the similarities that they share. Another similarity is the time interval of the block which is around 120 seconds. One more similarity is the algorithm used which is the same for both the currencies that are proof of work for mining purposes.
MoneroV has developed to address some of the loopholes of its origin cryptocurrency right from dealing with the scalability to cost of transaction and the decision-making process, to solve all these processes MoneroV has been developed as its fork.
Talking about the differences that they share is that Monero can supply its tokens unlimitedly while its hard fork has a specified supply that is 256 million. The reason for such an unaltered supply is to keep away the inflationary practice by having full purchasing power over these coins.
Another difference is that Monero has a different privacy protocol. The protocol is almost like Bitcoin’s protocol which focuses on dealing with the fungibility and the privacy of the network that further solves these scalability issues. Also, it provides blockchain smaller in size and meagre transaction fees. The holders of the XMR tokens are said to possess 10 times more tokens of Monero, the reason for such possession is that the XMR holders are provided with XMV tokens for free for their promotion.
POINTS OF CONCERN
As we know MoneroV is a hard fork and its forking might mitigate its investor's interest and trust. For such a thing to happen, we might hold responsible for all those factors that strive to eliminate the weaknesses of the Monero currency. Because of the similarities, another problem of the key image also lies. Because of the similarities, the problems such as the identity of the person might be revealed for which the core aim of the currencies might be defeated which is keeping up with the “privacy and anonymity” of the person.
The topic talks about Monero and Monero cryptocurrency. Where Monero on the one hand is the host currency, Monero is its hard fork. Both the currencies are privacy-oriented and it is hard fork that focuses on dealing with certain underlying loopholes of its host. The topic has given brief differences between both currencies and focuses on disseminating a legitimate piece of information. I hope the information provided would have given the essential information for your crypto future. Wish you the profits in your crypto journey.
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