- With the last Monero network upgrade, the RPC-Pay function was introduced.
- RPC-Pay offers a financial incentive to operate a public Monero node.
The leading privacy coin on the crypto market, Monero, could become even more interesting for potential users with a new feature. With the last network upgrade in November, the CryptoNight algorithm used since the Genesis block was removed and replaced by RandomX. The algorithm was introduced with the aim to ban ASIC mining from the Monero network once and for all. RandomX also massively promotes CPU mining, which has significant performance advantages over GPUs.
As Monero Outreach recently announced via Twitter, the upgrade also introduced a previously unnoticed feature with RPC-Pay. This could attract more users to the XMR network. RPC-Pay is said to be an innovative way to encourage server operators to earn Monero “as an alternative to advertising revenue”. According to Monero Outreach, the feature therefore has the potential to have a revolutionary effect.
The latest @Monero network upgrade introduced a new impressive feature. RPC-Pay is an innovative way to incentivize server operators to earn Monero as an alternative to ad revenue. This has potential to be a revolutionary. https://t.co/gh1qA9TDEQ
— Monero Outreach (@xmroutreach) January 29, 2020
How does Monero’s RPC-Pay work?
Until now, many users have been asking themselves why they should operate a public Monero Node. Operating it costs money and at least does not generate any direct income. RPC-Pay offers a solution to this problem by providing an incentive to operate a public node. How it works is described in detail in the Monero Outreach blog post:
RPC-Pay offers this incentivization, and much more. It gives a way to use Monero mining hashes—just the hashes—to pay for Remote Procedure Calls (RPCs) from any RPC-Pay-enabled server, such as a Monero node. Hashes received as payment are used by the server to earn income, and because of Monero’s RandomX…