Already in May 2022, 18,400,000 monero coins will be mined. This means that the first stage of the issue will be over, and then it will go under the new rules. Already, more than 90% of the initial number of blocks has been decoded. But will miners also be active in the future?
Mining cryptocurrency ensures the functioning of the entire network, without it, it is impossible to conduct transactions and issue new coins. Therefore, blockchains provide incentives for “farmers” through the mechanism of adjustable complexity. So, after the fall in prices for Bitcoin, the hashrate of the network fell by 40%, which led to a decrease in the complexity of production by 25%. And it stopped the outflow of miners.
But it is known that the issue of Bitcoin is limited to 21 million units. However, the main stage for Bitcoin will be completed only in 2040, therefore this blockchain is not at risk. Much closer is May 2022, when the first stage of monero emission will be terminated.
According to the MoneroBlocks resource, about 90% of the total mass of the blocks has been decoded. After that, the market expects a sharp decline in remuneration. If it now amounts to 3.44 tokens and depends on the total hashrate, then after 2022 the cost will drop to 0.6 XMR.
Although the monero emission has now reached 16,659,407 tokens, some experts have expressed concern about the future of the blockchain. The fixed reward for a block can lead to misalignment in mining, and make it extremely unprofitable. Even “difficulty adjustment” can be powerless.
But the XMR has one advantage that looks quite ambiguous. The blockchain monero was originally created to increase the anonymity of transactions. That is why it is sometimes used to conduct not entirely legal transactions. It is XMR that attracts hackers. Already, up to 5% of mined coins are obtained through “hidden mining”. Taking into account the current capitalization, this is about $ 175 million. There are risks that this kind of production will be dominant.
However, the Monero team always has a backup option. Hardfork blockchain is able to run almost any changes, including increasing the size of the issue.