Monero (XMR), one of the popular and leading anonymous coins is gearing up for its Monero hard fork MoneroV (XMV) on March 14. With a limited supply of 256 million, its airdrop will distribute 10 MoneroV for every Monero one holds.
Get 10 MoneroV for every 1 Monero on March 14
One of the coins in the cryptocurrency market that are still thriving after the correction in the market is Monero (XMR). With its hard fork coming on, it is most likely that the fork is the reason for Monero’s popularity.
MoneroV, the hard fork that can be expected on March 14 is coming up with its digital asset XMV. It is basically a private, secure, untraceable and of course finite cryptocurrency fork of the Monero blockchain.
This fork is backed by a lot of promises that involve new protocols to deal with the scalability issue. Going with the project’s roadmap, MimbleWimble technology is one such blockchain network that will be launched in the Q4 of 2019. However, it is not all, this year the Monero team has promised to release a simple Monero full node GUI wallet and a web wallet as well.
For the MoneroV hard fork, the split will occur at the 1529810 block, this is when the Monero miners will start creating the blocks on the network of the brand new blockchain. On March 14, 2018, XMV will launch with 256 million coin supply where every Monero holder will be the owner of MoneroV at the rate of 1 XMR = 10 XMV.
Monero’s new hard fork via community split- XMV coin
Talking about the difference in Monero and Monero V, the forked coin will be in limited supply i.e. 256 million, unlike XMR that has infinite coins. Moreover, the proof of work algorithms of both the coins will be on a different path along with the new coin focusing on the implementation of new protocols for scalability.
Over the last few weeks, as the market was in the bearish trend, it has been reflected in the prices of the Monero as it took a dip from $495 in mid-January to $160 in the starting of February. Having a market cap of $4,653,082,719 USD, currently, it is riding on $294. Under these circumstances the MoneroV price is a topic of interest for crypto analysts.
Though there are numerous other coins that offer anonymity, Monero has certainly established itself as the go-to virtual asset for the untraceable transactions. With its hard fork being around the corner, it is a high possibility that there would be a good rise in the prices of Monero.
What are your views on the MoneroV? What will be MoneroV price once it hits exchanges? Let us know in our comment section below!
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.