There are many cryptocurrencies that provide security and anonymity at a high level. Often these types of cryptocurrencies are known as Private Cryptocurrencies. Monero is such a cryptocurrency that highly consider the privacy of the users. In the current situation, almost all cryptocurrencies are suffering from scalability issues; at least for a certain amount. Therefore, the cryptocurrencies that are suffering from scalability come up with updated versions of the originating cryptocurrency. In simple terms, MoneroV is a hard fork of Monero. In this context, it is discussed about Monero Vs MoneroV.
MoneroV launched as a Hard Fork of Monero.
In 2017, a special event took place adding a new concept to the entire system. The split of Bitcoin Cash from Bitcoin opened another pathway on hard fork concepts. Similarly, Monero has split into another fresh cryptocurrency which is known as MoneroV. As a result of a hard fork, both the cryptocurrencies stated two separate paths. As Monero is symbolized as XMR, MoneroV symbolizes as XMV. The split of MoneroV occurred at the 1564965th block of the Monero network. Therefore, beyond the 1564965 blocks, Monero users started creating blocks on MoneroV. Circularly, XMR coin holders beyond the split would own XMV tokens
Difference of Monero Vs MoneroV
In the stranger’s perspective, Monero and MoneroV are almost similar in performances. Both of the currencies consider anonymity at a higher level. To provide privacy both the currencies are using ring signatures and stealth addresses. Moreover, these two currencies have a block interval of about 120 seconds and the difficulty levels adjust dynamically.
But, MoneroV addresses some drawbacks of Monero such as scalability issues, high cost of transactions, and the centralized environment. The main difference between MoneroV over Monero is the limitation of tokens. Monero has an unlimited token supply. Unlike Monero, MoneroV is having a limited supply of 256 million XMV. However, this limitation will defense the users from inflation due to the reduction of purchasing power.