Monero XMR is currently ranked as the 10th best currency in accordance with the market capitalization of over 1.5 billion dollars and still counting. Monero has been around for more than four years, as it was launched back in April of 2014 as a privacy coin while trying to become THE privacy coin.
Monero found competition in other privacy coins such as ZCash; however, XRM is now settled among the top 10 cryptocurrencies, while allowing miners to score six-figure earnings on a monthly basis by “easily” mining Monero.
Monero (XMR) Miners are Making Six Figures a Month
It is originally considered that all successful miners that are scoring a decent profit from mining cryptocurrency need expensive computer systems, ASIC miners, or/and additional equipment.
However, currencies like Monero XMR are easily mineable with more than decent profits on a regular basis even if a miner is only limited to equipment in form of an old computer.
Monero allows AISC-free mining, which means that at least a dose of competitive mining is diminished when it comes to mining XMR, however, although it was reported by the research conducted by RWTH Aachen University located in Germany, that the greatest portion of mined XMR currency goes to Coinhive, no0t to individual miners.
According to the research, only a dozen of people and less are getting over 250.000$ on a monthly basis through Coinhive miner, while the research showed that approximately 10 people are sharing the estimated profit of quarter million dollars per month.
Coinhive Makes 1.8% of Monero Hashing Power
The Aachen University in Germany has conducted a major research exploring statistics regarding mining operation and activities embedded through browsers, thus concluding that Monero makes up for over 75% of browser-based mining.
This is the case because Monero miners are said to commonly rely on Coinhive, which is said to be able to score a quarter million dollars during a period of a single month.
Coinhive is also used by charity organizations as there are multiple charities collecting donations through this mining script, and usually, such organizations are pretty transparent about their mining activities.
However, Coinhive is also used by hackers, usually not for charitable motives.
Further, in the research, the German University reported that although Coinhive isn’t the only successful or present browser-base miner, this mining script makes up for 1.18% of the XMR network mining.
Moreover, the research team has stated that miners can easily earn around 24.000$ per week while using Coinhive, which means that this mining script is able to generate around 300 XRM units every week the miners are up and running.
The research team also added that the mining script Coinhive takes around 30% of all mining profit, which makes up for flattering 75k every month, while the team found over 2 million links that are actively working on forcibly pushing XMR mining through various websites.
Websites that have embedded Coinhive script are usually ranked as spam video streaming websites.
Monero XMR Officially Lowers Hash rates
Back in April Monero has marked over 60% of hash rate, for which Bitmain was accused of secretly mining Monero units after the company launched a miner especially designed for mining XMR.
Antminer X3, the specially designed miner, posed as a massive threat to “organic” mining, thus making the founder of Monero find a solution for battling against the X3 miners.
That is how Riccardo Spagni with Monero dev team came up with a fork that would make ASIC mining ineffective for mining XMR, naming the fork Anti-ASCI Hard Fork.
With the new fork, ASIC miners will always get back to zero while losing money instead of earning a profit, allowing GPU miners to adapt to new algorithms through mining as ASICs are not able to add any value to Monero (XMR).
Monero in the Market
Monero (XMR) is still holding onto the 10th spot on the official ranking list, although switching places with IOTA and TRON every once in a while due to the frequent market dips.