Survey of security, performance, and profitability of Monero: a browser-based cryptocurrency

Abstract

Information is the key to success in every domain; this statement also applies to cryptocurrencies and blockchain domains. Beginning with Bitcoin back in 2009, which the anonymous Japanese Satoshi Nakamoto launched, blockchain technology emerged. This technology has revolutionized and continues to do so in digital transactions. In addition, this technology led to the further development of other cryptocurrencies that are active at these moments on the market. One class of cryptocurrencies obtained differently from classical bitcoin is those obtained due to web-based mining. The most known coins of this type are Monero, Dash, or Electroneum. This paper aims to analyze the web-based mining process of Monero and the whole process’s security. In addition, we want to explore the performance of the mining processes used in the user’s web browser. Moreover, finally, we aim to research the profitability of coins obtained due to web-browser mining, having as an object of study the cryptocurrency Monero.