Monero (XMR) Hard Fork MoneroV (XMV) Explained

Understanding the Monero Hard Fork MoneroV

Monero (XMR) is forking to create MoneroV (XMV). The snapshot block is 1564965. Anyone in Monero in a wallet where they control their private keys before the snapshot will own MoneroV.^[1]

MoneroV will be able to be claimed after the main net goes live using one’s existing Monero keys.

Please note that you must be in control of your private keys to qualify, being in Monero on a third party platform like an exchange isn’t enough unless that exchange agrees to credit users.

Consider this excerpt from the official site:

Monero holders before the hard-fork split that will occur in block 1564965 (~30th of April 2018) will receive 10 times their holdings in MoneroV coins.

With that noted, there has been some controversy surrounding this fork as Monero is focused on privacy and some worry that duplicating the ledger and having users use their private keys on the forked MoneroV could cause issues.

Drama aside, you can read more about MoneroV at the official site. Below is some key information (compiled and copied from the official site).

• Snapshot Block – 1564965. Approximately ~30th of April 2018 (with snapshots the block height matters, not the date).
• Mainnet goes live / Airdrop date – April 2018 (exact date TBA).
• Ratio – 1:10 (10 MoneroV for every Moenro).
• Coin Supply – Capped at 256 Million XMV. Smooth emission decline until minimum.
• Circulating Supply at Hard Fork – ~158 Million XMV (10x circulating XMR supply as airdrop).
• Proof of Work – CryptoNight (to be changed)
• Difficulty Retarget – Every block. Adjusted difficulty initially after Airdrop.
• Block Time – Every 120 seconds
• Block Reward – Smooth decrease. Minimum of 6 XMV per block at 184,467,440 XMV in total emission.
• Block Size – Dynamic, max 2xM100
• Privacy – Ring signature / stealth addresses
• Trades on – There are no exchanges who have agreed to trade XMV yet.

Is it a Monero fork or Monero airdrop? The term “airdrop” has been used a lot lately. The official site calls the distribution event an airdrop, but XMR is none-the-less forking. In cases where both terms (fork and airdrop) are used, I read it that a “fork” is what occurs when the chain splits and airdrop is a term being used for the distribution event (with this being true regardless of the specific mechanics of the distribution).

Monero Fork Delay: The original date of the Monero fork was March 15, it was moved to block 1564965 (roughly April 30th). The information above reflects the changes.

1. MoneroV. MoneroV.org. <—- Official site.