The resilience of #Monero
Monero has demonstrated its ability to face strong challenges this early year.
In February Binance, the world's largest exchange, delisted $XMR and caused a ~30% drop in the cryptocurrency's price by exiting this speculative market, rebounding today, recovering more than half of its drop in just 1 month.
Then, in the last few weeks there was a sudden increase in transactions per block of 4x the daily average, and the network was able to process them without major inconvenience thanks to its dynamic block size.
At this point it is unclear whether this explosive growth in transactions is organic or some kind of flood or spam attack or stress testing by unknown parties.
In contrast to Bitcoin's fixed ~1 MB block size, which can generate a competitive and sometimes costly environment for securing transaction space during peak hours, Monero's algorithmic approach to block size adjustments demonstrated a practical on-the-fly scalability solution.
This ability to adapt to transaction volume ensures that Monero not only supports user demand, but does so while keeping costs minimal, thus demonstrating the effectiveness and viability of its blockchain scaling strategy in a real-world scenario.
All of this is #MoneroBullish
Li₿ΞʁLiøη 🏴a³
npub1wp…hzs7p
2024-03-26 12:36:30
Author Public Key
npub1wpzpvzfkn4m754fasp0wnt6ck20ycww4kz9nj4n5rquu9ul7a0xq4hzs7pPublished at
2024-03-26 12:36:30Event JSON
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"content": "The resilience of #Monero\n\nMonero has demonstrated its ability to face strong challenges this early year.\n\nIn February Binance, the world's largest exchange, delisted $XMR and caused a ~30% drop in the cryptocurrency's price by exiting this speculative market, rebounding today, recovering more than half of its drop in just 1 month.\n\nThen, in the last few weeks there was a sudden increase in transactions per block of 4x the daily average, and the network was able to process them without major inconvenience thanks to its dynamic block size.\n\nAt this point it is unclear whether this explosive growth in transactions is organic or some kind of flood or spam attack or stress testing by unknown parties.\n\nIn contrast to Bitcoin's fixed ~1 MB block size, which can generate a competitive and sometimes costly environment for securing transaction space during peak hours, Monero's algorithmic approach to block size adjustments demonstrated a practical on-the-fly scalability solution.\n\nThis ability to adapt to transaction volume ensures that Monero not only supports user demand, but does so while keeping costs minimal, thus demonstrating the effectiveness and viability of its blockchain scaling strategy in a real-world scenario. \n\nAll of this is #MoneroBullish",
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