Cryptocurrency

Launched in 2014 by several anonymous developers, Monero offers complete privacy and security of all transactions, creating the most incredible level of decentralization. By utilizing the Monero network, users don’t need to trust anyone on the network to do transactions.

Monero XMR has a market cap of just over $2.3 billion and has a circulating supply of almost 18 million XMR. The maximum supply is 21 million WBTC. Wrapped Bitcoin can be traded on all top cryptocurrency exchanges.

How Monero Ensures Total Privacy

Unlike Bitcoin and Ethereum that have transparent blockchains with traceable transactions, Monero transactions are confidential and untraceable.

The XMR token is fungible by obscuring all details about the transaction using advanced cryptography. Using ring signatures, transactions are obfuscated for maximum security. Monero uses several methods for securing transactions, such as:

Using older transaction outputs on the blockchain act as decoys so that observers can’t tell who signed the contract.
Chunking the original amount into multiple transactions.
Creating stealth addresses for transactions that are only used once.

Because Monero is entirely private and secure, many criminal and darknet organizations use XMR tokens and transactions to hide illegal transactions. Many countries offer rewards for anyone who can decrypt Monero’s code.

The Monero Open-source Decentralized Network

Utilizing a Proof of Work (PoW) algorithm that can work on ordinary computers, Monero is mined by many users. Because you don’t need special equipment to mine, it is more difficult for an individual to gain a significant amount of power. The miners are critical to the network’s security because they manage the block.

Governance and The Monero Core Team
The Monero Core Team comprises seven developers, of which five are anonymous, who are the stewards of the coin. The Monero community decides on how to improve the project. This is a public discussion where developer meetings are published online and visible to the community as a whole.