4 Benefits of Using Monero over Bitcoin
Owing to decentralized nature, faster transfers, and lower transaction fees, cryptocurrencies has become the popular payment method across the world. In cryptocurrencies, there are no holding periods, no wire transfer, and no fraudulent chargeback risks. Nowadays, Bitcoin is gaining more popularity as compared to other cryptocurrencies. According to the reports and price factor, Bitcoin mining is very profitable today. Though Ethereum, Zcash, and Monero mining is also profitable for businesses. To discuss, here are four advantages of using Monero over Bitcoin. Read on!

1. Monero’s Mining Algorithm
Mining is basically the verification and processing of cryptocurrency transactions on the computer on worldwide network. The Bitcoin algorithm runs fast on ASICs called mining chips on laptops and special systems. So Bitcoin mining can’t be done on ordinary computers and that ultimately reduces the interest of miners in the countries where there is no access to cheap electricity. On the contrary, Monero mining algorithm is designed in such a way that it can be mined over ordinary computers, used by people.
Therefore, people can earn Monero through software on the PCs. In case, if an employer has to pay the electricity bill, then that people will be provided with an incentive to mine Monero. No mining equipment is required to mine Monero that simply means that anyone can download a Monero wallet and start mining on their computer.
However, it is predicted that a huge number of people will participate in Monero mining as compared to Bitcoin. Ordinary people will be interested in mining and this will be a major win. This will finally increase the number of participants in the Monero network.
2. Adaptive Block Limit of Monero
Whenever a transaction take place in the Bitcoin or Monero network, it will finally appear as block. Bitcoin blocks are created in every 10 minutes; however Monero blocks are made in every 2 minutes. As blocks are of heavy size that is why transactions got delayed. To add your transaction promptly, you need to increase your transaction fees.
Bitcoin blocks are relatively heavy and have high fees that’s why Bitcoin transactions are a bit delayed. However, Monero is designed in a way that it has an adaptive block size that automatically handles the increased transaction volumes without any issue.
3. Invisible Internet Project Layer in Monero
The integration of I2P layer in Monero add more privacy when doing Monero transactions. The Invisible Internet Project — I2P protects the passive network monitoring in order to make the payments untraceable. In addition, it also hides your identity of people and others do not have any idea that you are using Monero or not.
4. Quality and Research Team of Monero
Behind the quality and development of Monero, there are approximately 180 contributors. Their designs are pretty impressive.
Way Forward
The above-listed benefits clearly says that Monero mining is a bit more profitable in comparison to Bitcoin mining. It is also predicted that Monero can surpass Bitcoin’s market capitalization. Updates on the Bitcoin and Monero market caps can be found on our website — Hashgains. It is predicted that Monero can become the second cryptocurrency in the world (not as currency), but for other purposes.
