What is Monero actually…?
Monero (XMR) is an open source crypto currency , recently came in to existence on 2014.It provides a greater privacy than the bitcon mechanism. A new algorithm called crypto night proof of work is been implemented here. It is a decentralized mechanism as the blockchains do. It also maintains a public ledger and gets updated when a new unit comes in to the chain by the process called Mining. Due to this reason the bitcoin will run in 2018 and Monero will take over the rest of th era. In 2018, there are about 10 bitcoins came in to existence or I may be familiar with. It will the biggest bull run in the era after bitcoin. Since the dark web is the first most familiar platform with this crypto currency and then it becomes public. Moreover the traders in deep web or dark web will mostly eliminate the bitcoins because Monero has some great privacy features than the bitcoin or litecoin. In this article we are on a move to discussion with the Monero mining and on how to get benefited with the Monero mining. Lets get started , folks….
Why it is so secured than bitcoin…?
In case of the bitcoin the ledger of an indivual is publicly visible to all the members in the chain. So, all the transactions and account details and the amount of bitcoins is publicly exposed . But , in the case of Monero the this will not happen. It will provide a secured transaction between two ends.
Mining of Monero:
Mining in the sense , the hash functions will be get solved and pass on More the number of hashes larger the speed of mining. Anyone with a computer with a good speed of processing can do the mining. The mining process uses the processor of the computer. It can be done with CPU or GPU. More number of processor will make the mining faster. Lets mess up with the steps for mining the monero crypto currency.
Step 1( Create a monero wallet) :
Visit the official monero website for creating the wallet. It is available for windows , mac,linux and other such platforms. After filling the necessary details , you will receive a key ( a long string ) .keep it private.it will let others to join in your mining pool which will be explained later. This key can retrieve your wallet from the block chain in case of unknown deletion. Block chain will require about 30 gb of your computer. Once getting your wallet address copy it to the mining pool.
Step 2 : (Find a mining pool)
You can mine it indivually and but it is recommendable to join a pool and then start mining. Make sure that you have enough computer source such as Nvidia or Amd in case of GPUs. The best mining pools are coinhive and dwarf. The reward will be provided for sure but it will take months or years.
Step 3 ( Mining Software ):
Set up a software application related to your processor . But this can be detected by your antivirus and it will get corrupted . so it is safe to add the software to exception list In the antivirus.Finally ,start mining from your device and get benefited.
Happy mining 🙂