What is Monero?
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.
What are Monero Frequenty Asked Questions?
Where does Monero (XMR) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Monero currently ranks in position 15 out of the thousands of cryptocurrencies. It is also important to consider Monero‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Monero has a market cap of $ 2,641,653,640, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 638,573,076,942, Litecoin at $ 9,496,252,496, Ethereum at $ 147,970,330,712, Tether at $ 24,782,037,653, and XRP at $ 12,993,551,026.
What is the price of Monero (XMR) today (updated in realtime)?
The current price of Monero is $ 148.26 in USD. (The price in Euros is 122,24 €; and the price in Bitcoin is Ƀ 0.00434400 BTC.)
How has Monero (XMR) performed recently?
Monero‘s price has decreased in the last 24 hours by -6.36%. This compares with a seven day change of -6.00%. The trading volume over the last 24 hours was $ 607,835,379. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Monero (XMR) official website?
Links to Monero‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Monero (XMR) performed well historically?
Here is a chart showing how Monero has performed historically.
Where Can I Buy Monero (XMR)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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