MONERO RINGS


What is MONERO RINGS?

Monero rings is a project developed by the MONERO team, Monero Rings is a global open source project that promises to provide true personal cryptocurrency that develops. Monero Rings facilitates the desire to have a truly private and decentralized cryptocurrency that is also fast and easy for everyday use.
A coin, token, or some other resource (advanced or something else) is said to be completely fungible if every single existing unit of this advantage are totally equivalent and tradable.

Fiat cash banknotes are fungible: if Mike acquires $100 from a companion, he can later restore the cash utilizing any $100 note, two notes of $50 each, or any mix of littler notes and coins – the sum tallies, not the real physical cash units. In any case, banknotes likewise have their sequential numbers, with the goal that they can be followed by the police if there should be an occurrence of an illegal tax avoidance examination, for instance; along these lines, the fungibility of fiat cash isn't outright.

5 Assets like plots of land, vehicles, jewels, or cell phones are not fungible: if Mike obtains his companions' iPhone, he can't return him an alternate one, regardless of whether the display is the equivalent. Articles with remarkable attributes are said to be nonfungible – that is, non-compatible. As of now, there are many rising guidelines of non-fungible tokens, for example, ERC-721, exemplified by the well known Cryptokitties, where every single virtual feline is interesting.

Bitcoins are frequently thought to be fungible, however they are definitely not. Since the Bitcoin
blockchain is totally straightforward, the historical backdrop of exchanges including each
individual Bitcoin can be followed. On the off chance that a certain Bitcoin was engaged with a criminal or fake exchange, it tends to be uncovered utilizing strategies for blockchain criminology, which are continually ending up progressively ground-breaking.

A crypto trade, store, or any business can won't acknowledge such a "spoiled" Bitcoin, regardless of whether its present proprietor has nothing to do with the first detestable activity that corrupted it. In an extraordinary case, a client may discover him-or herself with coins that can't be utilized anyplace. As of now presently there are unique online administrations (called blenders) that jumble the provenance of Bitcoins, however they as a rule charge high commissions and are subject to substantial weight from the experts.

Conversely, Monero coins are made to be totally fungible, since there is no approach to follow the exchange history of an individual Monero coin. XMR units are completely compatible, and a Monero coin can't be "polluted" in any capacity, no matter what sort of exchanges it was associated with before. Clients don't chance getting their XMR denied by a trade or trader.

PROBLEM

As we know MONERO, we know it has a very high standard of anonymity and privacy, but at the same time, Monero faces several problems, namely:

have processes that are quite slow
Has a large transaction size than its competitors
Lack of GUI
Inefficiencies in mining
In this new project, Monero uses a combined POW / POS mining system, because as we know the POW system can cause losses to independent miners. Monero has made great efforts to limit the influence of mining pools that use ASIC. However, as we have seen, shadow ASIC mining still plays an important role because producers wait several months to release every new hardware model on the market, instead of using it behind the scenes to mine the maximum amount XMR as attainable. It is clear that efforts to exclude centralized traditional mining from the system have failed. In addition, more than 70% of hashrates in Monero networks are concentrated only in 3 CPU / GPU collections. Even though they do not use ASIC, they still charge a collection fee which is a large amount of profit for each user.
In Monero Rings, most blocks will still be mined using PoS, but 30% of blocks will be validated with PoS in the first stage of implementation. Any user who wants to get free XRM using this method will be able to provide proof (using a bullet proof system similar to that used to prove that all output is in the positive range and / or homomorphic encryption) that he holds a certain number of Monero Rings coins. This can be considered a slight reduction in anonymity, but most actual users don't need a lot of anonymity. The key is to provide the possibility to get XRM coins using PoS; users for complete privacy are priority who can continue to use PoW.
XRM holders who choose PoS do not need to enter the mining pool again; they can get cryptocurrency with their CPU and GPU, just like they do now, but are completely independent. The Monero Rings development team believes that this method is as efficient as reducing the presence of shadow ASIC mining by issuing hard fork updates every six months. PoS will also support decentralization, because CPU mining collections, however, are centralized structures in systems that charge fees for their own benefit.

Monero Rings wallet

The wallet made solely for Monero Rings will include a wide scope of apparatuses that are at present not accessible for Monero, just as an advanced moderate interface made utilizing the standards of Material Design. Client experience is given need, with the general expect to make a crypto wallet that will fulfill the requirements of experienced Monero clients as well as fledglings who are making their initial phases in the blockchain world. Here are only a portion of the highlights that will show up in the forthcoming Monero Rings wallet

Token

Symbol: XRM
Block height: 1781500
Patch date: February 28, 2019 (estimated)
Emissions: 30 million
Distribution: 70% airdrop, 20% development, 10% gift
Mining: yes - PoW with additional elements of PoS
Maximum supply intended:

More info following link:

ANN - https://bitcointalk.org/index.php?topic=5106662.0
Official Website - http://monero-rings.org
Whitepaper - http://monero-rings.org/whitepaper.pdf
Github - https://github.com/monero-ring-project/monero
Twitter - https://twitter.com/monero_rings
Telegram - https://t.me/monero_rings

Author:

Bitcointalk Username: skarga888tv
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2538832
My monero wallet: 8ByAbBiP21E3FFTZvdRpm5QxUe1bpi6z3Wwx7K53d6idcuzvmnGEr5igMk1LsupLJrJkY45XhvNFy4eR47szay3DGdCkQEG


Comments 0