diff --git a/README.md b/README.md
index 4d996e6..498e1d1 100644
--- a/README.md
+++ b/README.md
@@ -1,17 +1,16 @@
 # JSON REST service for Monero
 
 Example of using [restbed](https://github.com/Corvusoft/restbed/) to
- provide Monero related JSON REST service. 
-For the example, a service called Open Monero was developed.
+ provide Monero related JSON REST service. For this purpose, 
+ a service called Open Monero was developed.
 
 ##  Open Monero 
 
 Open Monero is an open source implementation of backend of
 https://mymonero.com/. The frontend, which includes html, css, JavaScript were adapted
-from (and originally developed by) https://mymonero.com/. The backend in this example
-was developed to be fully compatible with the frontend.
+from (and originally developed by) https://mymonero.com/. 
 
-However, unlike MyMonero, Open Monero's backend is open sourced, free
+Unlike MyMonero, Open Monero's backend is open sourced, free
 to use, host and modify. Additionally, the following features were added/changed:
 
  - google analytics, cloudflare, images and flash were removed.
@@ -19,13 +18,28 @@ to use, host and modify. Additionally, the following features were added/changed
  - the wallets generated use 25 word mnemonics, fully compatible with official monero wallets
 (13 word mnemonics generated by MyMonero work as usual though).
  - import wallet fee was reduced.
- - backend correctly decodes RingCT transactions.
- - support of testnet network added.
+ - support of testnet network and wallets was added.
    
 ##  Status
 
 Still under development as its not finished.
 
+## Host it yourself
+
+The Open Monero consists of four components that need to be setup for it to work:
+
+ - MySql/Mariadb database - it stores user address (viewkey is not stored!), 
+ associated transactions, outputs, inputs and transaction import payments information.
+ - Frontend - it is virtually same as that of MyMonero, except before mentioned differences.
+  It consists of HTML, CSS, and JavaScript.
+ - Monero daemon - daemon must be running and fully sync at all, as this is what 
+ where all transaction data is fetched from and used. Daemon also commits txs 
+ from the Open Monero into Monero network.
+ - Backend - fully written in C++. It uses restbed to serve JSON REST to the frontend 
+ and mysql++ to interface the database. It also accesses Monero blockchain and "talks"
+ with Monero deamon.
+ 
+
 ## Screenshot
 
 ![Open Monero](https://raw.githubusercontent.com/moneroexamples/restbed-xmr/master/screenshot/screen1.png)