MONERO (XMR) is an open-source cryptocurrency based on the CryptoNote protocol. MONERO was designed primarily for scalability, privacy and decentralization.
BitMonero was founded by “thankful_for_today” on April 18, 2014 and developed by 7 core developers through crowdfunding. “thankful_for_today” disappeared after sharing some controversial ideas which ensued a fallout in the company. After the fallout BitMonero was renamed into MONERO by demand of the community. Monero means “coin” in Esperanto. Monero is the first untraceable, private and secure crypto currency.
Today Monero is a good option for those wanting privacy and security in their transactions. It is the second most successful cryptocurrency based on CryptoNote and is currently ranked in 8th place on the world’s cryptocurrencies.
List of MONERO’s Core Developers:
- Riccardo “fluffypony” Spagni (firstname.lastname@example.org / @fluffypony):
- Francisco “ArticMine” Cabañas (email@example.com)
- Smooth (firstname.lastname@example.org)
- othe (email@example.com)
- luigi1111 (firstname.lastname@example.org)
- tacotime (email@example.com)
- NoodleDoodle (firstname.lastname@example.org)
Easy Mining – With MONERO’s “Proof of WorK” algorithm, mining on normal computers is now made possible.
Decentralization – MONERO is not run by any group but instead by the community. Development decisions are made clear and open for public discussions. Developer logs are published online where people can comment and give their opinion.
Privacy – Privacy is something MONERO takes very seriously. MONERO has very a variety of privacy countermeasures which make sure that no data is leaked nor any personal information is made public ito unauthorized individuals during its transactions.
To summarize: MONERO makes sure that no one can tell where the funds come from, who spent it, the what were transactions between the members and it even hides who the members of MONERO are.
For further information on how MONERO privacy works, click this link here.
Built in Scalablity – Having no hardcoded maximum block size, MONERO theoretically has infinite scaling potential.
However to prevent performance issues a block size limit was created to prevent blocks from becoming too large. But instead of slowing down like Bitcoin, MONERO automatically adjusts the sizes of the blocks to account for the volume. This makes MONERO infinitely scalable in theory.
Fungible coins – All coins of MONERO have the same market value.
Limited coins- MONERO has a set supply of coins preventing its monetary value from inflation.
Public View Key – MONERO has the option of sharing the details of your transactions which is not present in other cryptocurrencies
Stealth Address – A feature in which MONERO automatically masks your home address and uses the alternative of an “online post office box” to send and receive money on MONERO.
All Time High of MONERO
Market Cap of MONERO as of September 13, 2017
Volume (24 hours) of MONERO as of September 13, 2017
Circulating Supply of MONERO
Monero is an online cryptocurrency and can used for a variety of transactions. Here is a list of merchants that accept MONERO coins:
- Tux Exchange
- Magnetic Exchange
Monero is sponsored by these businesses:
- My Monero
- Dome9 Security
- Fork Networking