Monero To Hard Fork - MoneroV

Monero To Hard Fork - MoneroV

Recently it became known that MoneroV (XMV) is planned on the Monero network. It should take place on block 1529810. It is expected that this will happen in the region on March 14, 2018.

The developers of the project declare that MoneroV will become "the best private digital currency in the world". HardFork aims to increase the level of confidentiality and solve the problems of network scalability.

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All holders of Monero will receive a new cryptocurrency in the ratio 1 XMR to 10 XMV. The total emission of MoneroV will be 256 million coins.

In the comment of BTCManager, the main reason for fork developers called unrestricted emissions of XMR:

We believe in the original White Paper bitcoin, created by Satoshi Nakamoto, in which he asserts that as soon as the total amount of money reaches a pre-set maximum, the only source of encouragement for the work on the blocks will remain commissions while getting rid of inflation. We believe that the decision to an unrestricted emission of Monero coins was a mistake and led the tax in the form of inflation for all XMR holders. This is a fundamental drawback that MoneroV fixes by setting a limit on the total number of MoneroV coins.

As for White Paper MoneroV, the link on the official website of the project leads to the description of the protocol CryptoNote, implemented by Monero.

In the crypto community, the new fork was taken critically. Comments on Reddit evidence this. Users note that, in fact, the only difference between XMV and XMR is the limited release of coins. Many also call fork MoneroV scam and advise to stay away from it.

According to BTCManager, MoneroV will not be widely favorite, as the method of launching a new blockchain may violate the privacy of users.

Recall that on the evening of February 18, Litecoin Cash took place.

Information Source: BTCManager

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