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99 lines
2.8 KiB
Markdown
99 lines
2.8 KiB
Markdown
---
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title: Monero Technical Specification
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---
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# Monero Technical Specs
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## Live
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* Monero blockchain is live since 18 April 2014
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## No premine, no instamine, no ICO, no token
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* Monero had no premine or instamine
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* Monero did not sell any token
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* Monero had no presale of any kind
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## Proof of Work
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* CryptoNight
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* v0 since block height 0
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* v1 since block height 1546000 (forked on 2018-04-06)
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* v2 since block height 1685555 (forked on 2018-10-18)
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* v3 since block height 1788000 (forked on 2019-03-09); "CryptonightR"
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* RandomX
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* v0 since block height 1978433 (forked on 2019-11-30)
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## Difficulty retarget
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* every block
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* based on the last 720 blocks (24h), excluding 20% of the timestamp outliers
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## Block time
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* 2 minutes
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* may change in the future as long as emission curve is preserved
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## Block reward
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* smoothly decreasing and subject to penalties for blocks greater than median size of the last 100 blocks (M100)
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* ~1.6 XMR as of June 2020; for the current reward check the coinbase transaction of the [latest block](https://xmrchain.net/)
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## Block size
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* dynamic
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* maximum of two times the median size of the last 100 blocks (2 * M100)
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* ~50KB as of June 2020; check [the latest block size](https://bitinfocharts.com/comparison/monero-size.html#3m)
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## Emission curve
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### Main emission
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* first, the main emission is about to produce ~18.132 million coins by the end of May 2022
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* as of June 2020 the emission is about 8 XMR per 10 minutes
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* see [charts and details](https://www.reddit.com/r/Monero/comments/512kwh/useful_for_learning_about_monero_coin_emission/)
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### Tail emission
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* the tail emission kicks in once main emission is done
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* it will produce 0.6 XMR per 2-minute block
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* this translates to <1% inflation decreasing over time
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## Max supply
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* ~18.132 million XMR + 0.6 XMR per 2 minutes
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* technically infinite but practically deflationary if accounted for lost coins
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## Divisibility
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* Monero is divisible up to 12 digits
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* The smallest unit is called piconero and equals 1e-12 XMR, or 0.000000000001 XMR
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## Sender privacy
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* ring signatures
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* the ring size is 11 (10 decoys)
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* assurance: probabilistic / plausible deniability
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## Recipient privacy
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* stealth addresses
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* assurance: strong
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## Amount privacy
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* ring confidential transactions
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* assurance: strong
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## IP address privacy
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For the full node (`monerod`):
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* dandelion++
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* assurance: won't protect against ISP/VPN provider, won't protect against the very first remote node in Dandellion++ protocol
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* for the full protection user must manually wrap `monerod` with Tor
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For the wallet (`monero-wallet-gui` or `monero-wallet-cli`):
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* typically wallet runs on the same machine as full node so there is no risk
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* if wallet connects to remote full node, there is no IP protection by default
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* user must manually wrap wallet with Tor
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