81

It is the only private cryptocurrency in use today which is truly fungible as all transactions are private and created equal. It satisfies the 3 important properties of electronic cash: decentralized, private, digital. These are the major features that distinguish it from all the rest, on a protocol level: Nobody inspecting the blockchain can tell from ...


24

Privacy You won't find your standard address on the blockchain. Every single output is its own one time address, there is no choice about it (as opposed to Bitcoin, where address reuse is discouraged, but commonplace, and easy to do). Ring signatures allow transactions to be ambiguous about which outputs are spent, since any one of the N inputs in a ring ...


12

Theoretically, there is nothing preventing this. Practically, there is no code to do this yet, however. There are a few things that can be pruned. Ring signatures, for instance. Once RingCT is in, range signatures can also be pruned. These take a large portion of the transaction data. Note that Aeon, a fork of Monero, does implement some kind of pruning ...


11

A few other security related things that weren't mentioned in the other answers. In contrast to Bitcoin's 10 minute block time, Monero has a 2 minute block time. Additionally, Monero uses a different elliptic curve. Instead of secp256k1 / ECDSA as used in Bitcoin, Monero uses Ed25519 / Curve25519 / EdDSA. This doesn't make any perceivable difference for ...


11

I know Monero is dynamically scalable, but everyone knows that simply increasing blocksize does not make a blockchain scale. Saying "everybody knows" doesn't really cut it. Who can say what kind of hardware will be available by the time usage of Monero network gets to the point where Bitcoin is today. It's really not possible to answer this honestly without ...


10

Advantages of CryptoNote coins Common to all Bytecoin derived coins Monero transactions are untraceable and un-linkable by default. Meaning that there is ambiguity of where the monero came from and the destination address (or account in Monero lingo) is unknown. There is the option of providing the viewkey, which allows someone to check for incoming ...


10

Well, looking at a few transactions gives you the answer quite plainly, at least for the Monero side. I'm not familiar with Bitcoin transaction sizes, but I think they're a few hundred bytes, typically. A small tx, 4 inputs and 4 outputs: 1692 bytes. http://moneroblocks.info/tx/f634025ef2d0fd0836ce2a5207e782609c3250cd5f8a0dd5269ce4e5c2f71bb7 A large tx, 21 ...


9

There is a block size limitation. The maximum block size is variable, and a function of the size of the previous blocks. More precisely, the maximum block size at a given height is the maximum of (1) 60000 bytes and (2) twice the median size of the last 100 blocks. The intent is that, as transaction traffic increases, blocks fill up. When enough do, the ...


8

These questions are answered by the pruning FAQ, which was posted by core-developer smooth, who is also a core-team member of Monero. Pruning FAQ Q: What is pruning? A: Pruning refers to removing unnecessary information from the blockchain once it is no longer needed. Q: What are the advantages? A: Pruning reduces the amount of storage needed for the ...


8

I'm not exactly sure I understand the question, but I'm assuming you mean what of those three factors sets Monero and Bitcoin apart the most? I'd say privacy is the big one, for one, the other two could conceivably be implemented via hard forks, but implementing ring signatures at the protocol level in the blockchain would be extremely difficult, if not ...


8

[C]ost [O]f [N]ode [OP]eration is (theoretically) a way to measure to the cost of running a full node. If we peg a blockchain with a 1 MB blocksize as having a CONOP of 1, then doubling the blocksize to 2 MB, would double the CONOP to 2, thus reducing decentralization since increasing CONOP would result in less people running full nodes (higher the price ...


7

The whitepaper is fake, never meant to be taken seriously. Quoting @fluffypony's followup tweet: Don't take the 3 papers I tweeted as serious, I used the Koinster whitepaper generator for altcoin-quality papers: https://whitepaper.koinster.com/


7

Currently it's still an open question but I believe it's the inevitable path if Monero adoption increases. The optimal way for a sharded distributed DB to operate is to have encoded rules for mapping from a key to a shard node. E.g., to look up a key image, use the first byte of the key as a map to one of 256 possible branches of shared containing the record....


7

The Monero blockchain can be used to send any information, as long as it's part of a transaction. There is a field (tx_extra) where you can effectively put whatever you want in there. It's really a matter of size as the limiting factor. As with the bitcoin blockchain, tx fees need to be paid (based on the size of the transaction). So, yeah, it would work ...


6

The reason bitcoin network is struggling is that there are too many transactions trying to get in a block, but the maximum allowed block size is hardcoded into the protocol rules. Nothing that can't be fixed - the amount of transactions is by no means massive. See here for some historical background on the subject. Monero, on the other hand, never had such ...


6

Monero will scale where bitcoin failed because Monero is hardcoded to scale to the network infrastructure (a real variable), whereas Bitcoin is hardcoded to scale to a decision made by humans (the 1 MB block cap).


6

I am pretty sure that the network could not handle a million daily transactions (how many does it handle now?) In the last day, Monero processed an average of 2.22 transactions per block excluding coinbase transactions. This comes to about 2.22(30)(24)= 1598.4 transactions per day. As demonstrated by the August 2014 spam attack, Monero blocksize limits ...


5

Beam authored a similar piece on a comparison between Beam, Monero, and Zcash that I recommend you read here to get a different perspective. I personally disagree with some points, but the high-level details are more or less correct. Pardon the image, but there is no way to create tables in StackExchange. Beam's privacy is best characterized as "Monero ...


4

Riccardo Spagni was discussing CONOP (Cost of Node-Option) at the "OnChain Scaling Conferences" in a presentation called Dynamic Block Size Caps (YouTube):


4

For mass adoption, we certainly need a simple way (official GUI) to use Monero, since the average user will not be able to run the CLI. It would be also great to see some mobile wallets (with private key control) to adopt Monero. But I am sure, we will see this in the near future. Most Bitcoin users think that they are anonymous, but law enforcement and ...


4

This is the blockchain growth (MB) per month since inception: +--------+---------+ | size | month | +--------+---------+ | 15.25 | 2014-04 | | 159.60 | 2014-05 | | 424.98 | 2014-06 | | 202.63 | 2014-07 | | 227.67 | 2014-08 | | 155.52 | 2014-09 | | 102.11 | 2014-10 | | 83.77 | 2014-11 | | 103.33 | 2014-12 | | 74.76 | 2015-01 | | 71.97 | 2015-02 | | ...


4

Pardon the image, but there is no way to create tables in StackExchange. Grin's privacy is best characterized as "Monero with aggressive pruning and no ring signatures." Users who are unable to get access to old information cannot pull up past transaction information by looking at the current ledger state. However, those who receive transactions as they are ...


3

The blocksize can automatically adjust over the course of time by the miners including more or less transactions than what has recently been the norm however they have to pay a penalty fee if they increase it by more than a certain distance from the median of recent blocks. I guess the idea is to let the market decide what the blocksize should be rather than ...


3

I just took a look at the get_transaction_hash function in the Monero source code, and if I understand it correctly, the way the transaction hash is computed will change once ringct is activated. The comments in the code indicate: v1 transactions hash the entire blob v2 transactions hash different parts together, then hash the set of those hashes The 3 ...


3

It is pertinent to note that these different addresses are still half identical, and thus two such addresses can be trivially known to be the same owner. Onchain you would not be able to group these addresses together, but indeed, offchain you would be able to see it. The reason XMR will get subaddresses is to avoid offchain grouping. You'll be able to ...


3

Bytecoin's scheme is to create addresses which differ in their spend key, but not in their view key. In that way, they are able to scan incoming transactions once, using the shared view key, while being able to distinguish the provenance (assuming they assign one such key per possible sender). I like this system, as it's pretty simple, very scalable, and ...


3

First off, Monero is a technology, not a product. Technologies do not need any marketing on itself if they are useful enough. It is needed though to show the first adapters of the technology that Monero is indeed useful enough. For that there are some initiatives going already, like the recent video that was made or the websites and reddit pages. Mass ...


2

There is always the possibility that it will become too expensive for people to store and use the blockchain if its size grows too large. However, with the rate at which storage technology is increasing, I can't imagine that will ever be much of an issue. Not that long ago, it would've been crazy to expect the average person to store an 85 GB blockchain ...


2

We could scale to having very large blocks which could lead to it being prohibitively expensive to run a node. We might be left with a situation of concentration of nodes/ mining.


2

We say Monero is scaleable because there nothing in the protocol level preventing Monero from accepting a very large number of transactions. There is no coded limit on the block size. The processing capacity for nodes is based on a few things: Frequency of transactions Size of the blockchain Regarding the first, transactions can not happen faster than ...


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