Using below table, you can check how profitable it is to mine selected altcoins in comparison to ethereum. Please note that calculations nyakundi vs bitcoin based on mean values, therefore your final results may vary.
For best results fill all fields with your hash rate and power consumption. Input Groestl hash rate, not Myriad-Groestl. Default values are adapted for three 480 cards. M9 1a8 8 0 1 0 0 16A8 8 0 0 0 9 1zm. What are the primary differences between Monero and Bitcoin? Addressing each of the following factors, what are the major differences between Monero and Bitcoin? Privacy You won’t find your standard address on the blockchain.
Ring signatures allow transactions to be ambiguous about which outputs are spent, since any one of the N inputs in a ring signature appears to be a possible candidate. With Monero, nobody can see your balance from looking at the blockchain. Scaling This is a bit of a mixed bag. On the other hand, Monero has no fixed blocksize limit. While there is a blocksize limit for any given block, this limit evolves based on demand in the previous blocks, allowing increasing demand to increase block size, and vice versa. Pruning is possible both with Bitcoin and Monero. Cryptonight is heavy to verify, contrary to SHA-2.
This implies CPU load on nodes, which may become significant if transaction volume increases. There has been talk of switching PoW to Cuckoo Cycle, another hash algorithm with the same goals as Cryptonight, to alleviate this. Bitcoin, spent outputs can be removed from the UTXO set. Security Monero uses Cryptonight instead of SHA-2. This means that CPU mining is still possible, whereas in Bitcoin, CPU mining is utterly pointless. On the other hand, the value of Bitcoin now has attracted a lot of miners, and it is vastly more costly to attack Bitcoin than to attack Monero.
Hopefully this will change if Monero attracts a lot of attention from miners, but this is not a given. 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. This doesn’t make any perceivable difference for the user, but it’s good to have a bit of diversity for avoiding a common point of failure. Next, Monero has mnemonic seeds built in by default. When you create a wallet, you’re given a list of 25 words.
You can restore your wallet using only these 25 words. Finally,with Bitcoin, you get 100 addresses when you create a new wallet. If you backup, use all 100, and then create more, your backup won’t have those new addresses. Create one backup, and it’ll always work. 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 impossible.
Changing the PoW or scaling via the blocksize, are pretty damn easy. The other thing is the impact of privacy, compared to scaling and security. Scaling and security ensure the system functions, but are usually not things people single out, or notice. I did not mean you have to rank privacy, security and scaling in terms of variance from Bitcoin, but your answer was informative!
Not the answer you’re looking for? Does Bitcoin have any technical advantages over Monero? What privacy issues did Monero have and still has? What will Enable monero to scale where Bitcoin failed? What advantages does Monero offer that are not provided by other cryptocurrencies?
How can individuals safeguard themselves and the community against a key reusing fork? Why does Monero use a 256 bit seed? Is it always better to use the whole dataset to train the final model? How do you exclude language from SXA sitemap?