Today we will look at a new Ethereum token that is mineable on the Ethereum blockchain network and they are developing a privacy component to work along side it..
- 0xMonero 0xMR is a mineable privacy focused token on the Ethereum blockchain.
0xMonero is mineable and compatible with all Ethereum based exchanges, wallets, and Dapps. We are currently developing second layer privacy solutions for 0xMR. We will mint a non-mineable first layer privacy version of 0xMR (zkERC20 standard) for those requiring additional security (this token may not be fully compatible with all exchanges and will not replace 0xMR). A smart contract will enable swaps between 0xMR and the zkERC20 token.
- No premine
- No ICO
- No Masternodes
- No Founders Reward
- 18,400,000 token cap
- Difficulty Readjustment every 1024 Blocks
- Block Halving
- 10 Minute Blocktime
- GPU & CPU Mineable
- Deployed on the Ethereum mainnet 4-18-2020
Live Token Information:
See https://0xMonero.com for instructions
Solo mining only at this time
0xMR Social Links:
0xMR vs Monero:
- 0xMR is more secure than Monero because it's built on top of the Ethereum network (which will soon be secured by POS to prevent 51% attacks).
- Monero is block size limited to 4tps while Ethereum is scaling to 160k tps with Ethereum 2.0.
- There are up to 200k Ethereum devs vs 150-180 for Monero, so there is a larger ecosystem of exchanges, contracts, and Dapps.
- 0xMR is easier to use than Monero and requires no CLI or full node. It's currently compatible with all Ethereum wallets.
- Privacy features are being built for 0xMR that utilize zk-Snarks and other technologies that arguably surpass RingCT in privacy.
In genral the mining is fair and easy, once you read through the mining guide found on the website. Also make sure you have ethereum in the wallet you are mining to, this pays for transactions and submissions.
The market at Saturn DEX has been a little volitile, but in general has a nice little volume, people are buying and selling.
With the work they are doing with privacy, they are looking at a second layer privacy solutions for 0xMR. We will mint a non-mineable first layer privacy version of 0xMR (zkERC20 standard) for those requiring additional security (this token may not be fully compatible with all exchanges and will not replace 0xMR). A smart contract will enable swaps between 0xMR and the zkERC20 token. With this plus other privacy features that have been spoken about in the Telegram community group, I see that 0xMRhas a real chance of being able to fill the position on the Ethereum blockchain that has been lacking and also be a real competitor in the crypto privacy eco-system.
I have been and will continue to mine and watch 0xMR with great excitement and have enjoyed talking to the dev's and in the community in general..
WATCH THIS SPACE!!