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This is a follow-up to my question on the mymonero backend here

Just had a quick look at the openmonero implementation of the mymonero backend (pretty well readable btw given that I'm not familiar with the monero code base). Looks to me like the main point the mymonero backend adds is that the blockchain scanning, which in monero-wallet-cli is part of the wallet is put into the mymonero backend, which makes it kind of an intermediate layer between the regular full node in the background and the mymonero app. Is that to make the mymonero app even less computationally intensive than monero-wallet-cli and monero-wallet-gui? Or is it more in order to keep the bandwidth usage of the mymonero app low, because only the transactions for my address are sent from the mymonero backend to the app, instead of the whole blockchain?

villabacho
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MyMonero saves both Bandwidth and CPU in the expense of giving up your view key.

Monero has no light wallet that is comparable to Bitcoin & other similar Altcoins because monero requires the whole Blockchain for both receiving/sending transactions. Having the whole blockchain is resource intensive specifically when starting to synchronize.

Thus, the only way to have a light wallet that is both less compute/bandwidth is to use a third party server where it will listen for your incoming transactions. In addition, this is not an ideal solution since it will not scale compared to P2P and you have to give up your view key.

In the future a light/hardware wallet maybe implemented.

Gundamlancer
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