Is Monero part of blockchain 1.0?

Monero does not belong to Blockchain 1.0. It uses technologies such as anonymous transactions, programmability, and random X consensus mechanisms to classify it as Blockchain 2.0 or newer versions.

Is Monero a blockchain 1.0?

Monero is not part of blockchain 1.0.

Blockchain 1.0 is the earliest stage of blockchain technology. Its main features are as follows:

• Open and transparent: All transaction records are publicly visible.
• Immutable: Once a transaction record is added to the blockchain, it cannot be modified or deleted.
• Consensus mechanism: Using the Proof of Work (PoW) consensus mechanism, miners are required to solve complex mathematical problems to verify transactions.

Monero is a cryptocurrency based on blockchain technology, but it uses a different technical architecture and does not meet the characteristics of blockchain 1.0:

• Privacy: Monero uses technologies such as ring signatures and confidential transactions to provide anonymous transactions and balance hiding functions.
• Programmability: Monero supports programmable features such as ring signature contracts, allowing more complex applications to be built on the blockchain.
• Consensus mechanism: Monero uses the random X algorithm as the consensus mechanism, which is a variant of the PoW algorithm.

So, while Monero is based on blockchain technology, its unique features classify it as a cryptocurrency outside of Blockchain 1.0. It can be considered Blockchain 2.0 or newer.

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