Before discussing what is monero mining? We would like to discuss regarding what is monero. Monero is the coin which is totally based on privacy. It has the ability that can solve any problem with Bitcoin that is privacy. All the bitcoins operations are public including details like amount sent, receiver address as well as the senders address. In order to make issues worst the blockchain finders may see exactly where bitcoins are sent, how much coins are in the wallet and where the money is from. Therefore, monero solves the problem through hiding the info of receiver, sender as well as amount sent.
• XMR- it is the sign of monero
• Scalability- as compared to Bitcoin monero has the lower transactions or operations fees
• Privacy- monero can protect the isolation of the receiver and sender
What is monero mining?
In the simple words, mining is the processing operations only for the monero network. The process of mining collects real-time information’s and joins them together in the ledger form called as blockchain. It is same as what accountants’ works, just that it is finished by powerful computers. Because you work for monero network, the networks give you that is why monero mining is very profitable. Also, the monero make use of the cryptoNight algorithm.
Monero mining is really a fast increasing currency which often concentrates on privacy. Day by day the use of this mining processing transaction is increasing. This is much better than Bitcoin mining process, and it is very profitable. This process can easily be done by a central processing unit; no need to use another device. When we do the processing of Bitcoin transactions, it shows publicly all about the senders or receiver even their transactions. But monero mining process is not like others mining process. It is really very safe and secure. It keeps all the information and transactions safe.