Meet Monero, a new disruptive digital currency

Even though he is a layman, he has heard of Bitcoin at least once in his life in the last 5 years, at least, a digital currency based on transactions via blockchain, and this is fully distributed and all processing is carried out by miners around the world who in exchange mining workers earn Bitcoins, and the self-sustaining wheel keeps Bitcoin in strong and consistent growth, no matter how scandals, forks, security breaches, among others.

One of the great allies of transaction mining for the blockchain, is that the processing library is based on the SHA-256, which has as its allies the video card GPUs, which can process data up to 10,000 times faster than a common CPU .

However, due to the current mining difficulty due to large miners today taking the processing and quickly processing blocks of the blockchain, they overtake small miners, who sometimes end up spending energy and infrastructure for nothing, solving blocks that have just been solved by others bigger.

However, this can change. Long forgotten, the Monero coin began to rise in the ranking of digital coins on the website https://www.coinwarz.com/cryptocurrency/, a site specifically aimed at identifying how much a particular digital currency is worth mining versus electric consumption .

Coinwarz.com site with energy efficiency / mining gains.

Monero currently appears in 8th place, advancing above LiteCoin (LTC).

The main reason for this is that small miners can now start mining again and earn XMR (the Monero coin) as a reward for processing the blocks, which can be done with a standard computer CPU.

Unlike Bitcoin, based on SHA-256, Monero is based on Cryptonight, a library that has no video card as an ally, as they only increase 2x in the work of a common CPU, due to the complexity of its technology.

Despite using blockchain for transactions, by default, Monero hides the transaction values ​​and origin and destination, unlike Bitcoin, where this data is public. In other words, Monero is a currency that makes each individual a bank responsible only for their own funds.

In addition, recently, several websites started to adopt Monero processing to monetize websites, instead of using advertisements for users.

That's right, a website can mine data for the website owner using its CPU!

This is because as Monero does not benefit from a GPU, there is a greater facility on the network for small processing, and a simple JavaScript can mine data.

There are also cases of dissemination of XSS scripts on the internet, where people are injecting Monero mining scripts into websites, such as recently government websites in Brazil, and from some companies in virtual instances on Amazon.

Some components, like automatic banner plugins, have also adopted placing scripts to monetize rather than display advertising to users.

The main driver of this is the https://coinhive.com/ sites where the user can create an account, create the key for a site, and exchange all advertising for a mining script, with complete documentation for the number of threads, speed , start, stop, among others.

Site coinhive.com, which provides solutions for sites to monetize with Monero.

Currently it is impossible to mine Bitcoin or Etherum blockchain transactions for example via Javascript, as it would be totally inefficient. However, with Monero, everything is different, a Javascript can process without major problems around 70 hashes per second, which is almost what a CPU or GPU would do.

With the huge increase in the value of Monero, currently each 1 XMR = R $ 400.00, exchanging Google AdSense for a Monero script on the website, can be something much more profitable.

In addition, there are other solutions such as captchas that identify whether the person is a robot or not, simply completing 1000 processing hashes, or even redirect links that only redirect after X hashes are processed.

There is also an open API, for other adverse solutions, such as even processing during online games, where the GPU is used for the game, and 1 or 2 CPU threads are in the mining work of Monero, all this, to make the most of the profit.

Because it is a "run-in-only-cpu" library, the benefits of its use on the internet, games, both for developers and for customers to have sites without advertisements, free games, are in fact a disruption to the current model of full sites of advertisements that stress the user instead of helping.

Did Monero come to stay? I think so!