Miners Have Officially Extracted 90 Percent Of Monero

Monero reaches into our crypto news today after a long time being absent throughout the crypto websites, after officially extracting 90 percent of XMR.

The Monero developers that pain most attention to the anonymity of the cryptocurrency now has an ultimate supply of 18.4 million XMR. As of today, approximately 16,659,406 XMR is available.
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Bitcoin, for example, has a fixed supply once all of the coins get mined, Monero will continue to generate 0.6 XMR rewards infinitely which is a feature known as ‘’tail emission’’. This feature ensures miners of an incentive to keep the network secure. According to the reference bank Moneropedia:

 “Because of the dynamic blocksize, competition between miners will cause fees to decrease. If mining is not profitable due to a high cost and low reward, miners lose their incentive and will stop mining, reducing the security of the network. Tail emission ensures that dynamic block size and fee market can develop.”

However, despite this feature, Monero is highly unlikely to become inflationary. This can’t happen because the cryptocurrency has technically unlimited issuance of 0.6 XMR per block. All of the coins that get lost will be equal more than the block reward over the same period.

Monero has done well into fighting negative publicity this year despite being the favorite coin for hackers and cybercriminals. This year has been the year of ‘’cryptojacking’’- a process where hackers use devices to secretly mine cryptocurrencies without the owners knowing about it so it’s no wonder that hackers opt for anonymity coins such as Monero.