2. M onero is an open source, secure, private and non-traceable cryptocurrency. Monero token is known as XMR. Monero is aimed at privacy of transaction and decentralization of crypto coin. Monero runs on Windows, MAC OS, Linux, FreeBSD & Android. Monero uses a public ledger but maintains privacy in transactions, by keeping the details of sender, the receiver and the amount obscure.

3. Monero Mining The new units of XMR are created through a process, known as mining Monero. Monero is based on CryptoNote algorithm. Monero depends on ring signatures. This ring signature is necessary for provision of privacy to a certain degree, at the time of making transactions. Monero is a cryptocurrency that uses Proof of Work (PoW) mechanism.

4. Monero Mining - How it is done? MoneroMonero can be mined using mining computational power from a personal computer, with a Central Processing Unit or a Graphics Processing Unit as the Monero mining hardware. Anyone with a personal computer, with the mining hardware is able to mine Monero. There is no Application Specific Integrated Circuit mining hardware yet developed for mining Monero coins.

5. Monero mining is possible both by either mining Monero solo or by joining a Monero mining pool. Mining Monero in a Monero mining pool is definitely more advantageous than mining Monero solo. Monero mining in a mining pool comes with a charge. Monero miners mining solo, but not having sufficient computational power, may have to wait for too long to get a reward in mining. But in a Monero mining pool, several Monero miners pool their mining resources together. This helps in reducing the variance and results in a steady flow of income to the Monero miners, through mining.Mining Monero

6. The Monero miners, who are interested in mining Monero solo, must have enough computational power and mining hardware, to mine Monero solo. Monero mining also provides the benefits of solo pools. These Monero mining solo pools functions in the same manner, as a normal solo Monero mining. But this Monero solo pools do not need their users to run a full node or store the entire Monero blockchain.

7. Monero Mining Hardware Though Monero mining is possible with a CPU mining hardware, it may not be giving the desired profitability, due to its slow hash rate and expenses on high consumption of electricity. Advanced Micro Devices Graphics Cards provide optimum output in Monero mining. This mining hardware CryptoNote open source AMD GPU Miner provides the best results with highest possible profitability to the Monero miners.

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