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What is a monero block

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What is a Monero Block: Unveiling the Key Aspects

Monero, a popular digital currency, operates on a blockchain technology. Understanding the concept of a Monero block is crucial for anyone seeking knowledge about this cryptocurrency. In this article, we will explore the positive aspects of "What is a Monero Block" and highlight the benefits it offers.

I. Definition of a Monero Block:

A Monero block refers to a component of the Monero blockchain, which serves as a public ledger for all transactions within the Monero network. It contains essential information related to transactions, such as sender, receiver, amount, and cryptographic signatures.

Benefits of Understanding a Monero Block:

  1. Enhanced Security:
  • Monero blocks employ cutting-edge cryptographic algorithms, ensuring the security of transactions.
  • Privacy features like ring signatures and stealth addresses make Monero transactions more confidential and unlinkable.
  1. Decentralization:
  • Monero is a decentralized cryptocurrency, meaning no single authority or entity controls it.
  • Understanding Monero blocks helps users comprehend the decentralized nature of the network, fostering trust and transparency.
  1. Immutable Transaction History:
  • Monero blocks store a permanent record of all transactions, creating an immutable transaction history.
  • This transparency reduces the risk
A block is a container of transactions, with a new block being added to the blockchain once every 2 minutes (see constant DIFFICULTY_TARGET_V2 defined as 120 seconds), on average. Blocks also contain a special type of transaction, the coinbase transaction, which add newly created Monero to the network.

How long is a Monero block?

Monero
Denominations
Block time2 minutes
Block explorerxmrchain.net p2pool.io/explorer/ localmonero.co/blocks/
Circulating supplyXMR ~18,367,316 (as of 6 December 2023)
Supply limitUnlimited

How many Monero blocks are there?

Monero (XMR) price stats and information
Total Moneros18,370,947 XMR
Blocks Count3,039,612 (2023-12-14 08:50:51)
Block Size76.733 KBytes
Blocks last 24h752
Blocks avg. per hour (last 24h)31

Is Monero legal in USA?

Is Monero Illegal? Monero is not an illegal cryptocurrency.

How long does it take to mine 1 block of Monero?

2 minutes A Monero block is mined every 2 minutes.

What is the format of transaction ID in Monero?

A transaction can be uniquely identified with the use of an optional Transaction ID, which is usually represented by a 32-byte string (64 hexadecimal characters).

What does a Monero address look like?

A raw Monero address is a set of 95 characters starting with a '4' or an '8' and are encoded in Base58. Here is an example of Monero address, for instance: 888tNkZrPN6JsEgekjMnABU4TBzc2Dt29EPAvkRxbANsAnjyPbb3iQ1YBRk1UXcdRsiKc9dhwMVgN5S9cQUiyoogDavup3H.

Frequently Asked Questions

How large is the Monero blockchain?

As of 2022, the full blockchain is around 140-150GB. A pruned blockchain is about 50GB. Check out Moneropedia entry pruning to learn the difference between a full and a pruned blockchain.

Can you mine 1 Monero a day?

How many Monero can you mine a day? Based the mining hardware inputs provided, 0.01141256 Monero can be mined per day with a Monero mining hashrate of 54.00 KH/s, a block reward of 0.65 XMR, and a Monero difficulty of 265,728,293,932.00.

How many Monero are left?

Monero's current circulating supply is 18.38M XMR out of max supply of 18.20M XMR. The current yearly supply inflation rate is 0.93% meaning 170,203 XMR were created in the last year.

FAQ

How long does it take to find a Monero block?
On average, Monero blocks are mined every 2 minutes. This means that after announcing a transaction, your transaction will wait for the next block to be mined, and then it will take around 2 minutes to be mined into that new block.
How much is XMR block price?
The Monero price is $173.93, a change of -0.67% over the past 24 hours as of 4:00 p.m. The recent price action in Monero Read more

What is a monero block

What is the block reward for Monero? XMR 0.6 Monero
Denominations
Block rewardXMR 0.6
Block time2 minutes
Block explorerxmrchain.net p2pool.io/explorer/ localmonero.co/blocks/
Circulating supplyXMR ~18,367,316 (as of 6 December 2023)
What affects the price of Monero? Monero's price at any given time is decided by the balance of supply and demand on exchanges.
  • How long does it take to get 1 XMR?
    • A Monero block is mined every 2 minutes. You already know that the current reward for mining a transaction block is 0.6 XMR. Doing the simple math, 1 XMR is mined every 3 minutes and 20 seconds.
  • How many blocks in monero coin
    • Monero has a dynamic block size, it changes depending on factors of the blockchain like transaction amount per day etc.