Hard to keep up with all that’s happening in this community, project, and ecosystem, but it’s amazing to see the growth and adoption of Monero as a store of value, digital cash, and freedom money.
There has been immense growth in the usage of Monero. Undeniably, the burgeoning circular economy with lot of supporters.
Monero saw 154% YoY growth in private-by-default transactions that protect sender, receiver, and amounts, going from ~23k/d to ~40k/d. Monero users sent over *9 million* transactions last year.
Researchers and developers are tirelessly working on improving Monero’s efficiency over time, those 9 million transactions only led to 19.24GB of growth in blockchain size over the year. The average transaction was 2.11kb, and the average block 73.27kb.
As Monero approaches the tail emission, the block subsidy has dropped well below 1 XMR. The emissions per day went from 803 XMR to 458 XMR, and 237,822.80 XMR were created by block rewards over the span of the last year. Inflation decreased 34.3% YoY.
Monero users spent 1,510 XMR on fees this year, an average of 4.12 XMR per day. The average Monero transaction fee was ~0.00016 XMR, or $0.04196. The average TX fee dropped 48% YoY thanks to how Monero’s fee model works as usage increases.
Monero’s network security saw another excellent year of steady growth, going from 2.29GH/s to 3.51GH/s over the year, a 53% increase in hash rate YoY! This year also saw the introduction of p2pool, which already averages 5% of the network hashrate.
The Monero community on Reddit increased 21.8% YoY, growing from 211,000 to 257,000 subscribers.
Some large important community events have been happening with funding via voluntary donations this last year as well. This included the HavenoDEX front-end, Monero Kon funding, a Seraphis PoC and implementation, ETH <>$XMR atomic swaps by elizabethereum, and many more!
The Monero ecosystem also had some major upgrades and additions like the launch of p2pool, view tags (30-40% decrease in sync times), Bulletproofs+ (soon to go live in the upcoming network upgrade!), and the development of the proposed next-genMonero protocol, Seraphis.
Usage stats and tokenomics are great, but what makes XMR is its privacy and fungibility.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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