LiberLion on Nostr: The resilience of #Monero Monero has demonstrated its ability to face strong ...
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
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