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What is Monero?
Monero (launched 2014) is a privacy focused cryptocurrency which is based on Cryptonote technology. Privacy is built in its design by default for all the network participants. The development is currently led by Riccardo Spagni with a few other core protocol developers after splitting from the original Bitmonero project (forked from bytecoin) in 2014. Monero has unbounded inflation, after emission of 18.132 million monero (May 2022), a constant tail emission of 0.6 XMR every 2 minutes will ck in resulting around 1% inflation per year. A permanent inflation keeps miners incentivized, thereby securing the network. Monero enables untraceable and unlinkable transactions. It uses Ring signatures to protect sender identity, stealth address to protect recipient identity and Ring CT (Ring confidential transaction) to protect transaction amount. This is vastly different from Bitcoin where all transactions are visible to everyone and a sophisticated blockchain analysis can potentially reveal a user's identity. Monero is currently working on Kouri to integrate I2P (The invisible internet project) to protect users IP address as well. In April 2018, Monero made an effort (successful so far) to become ASIC resistance, in order to prevent mining centralization. Monero's privacy feature makes a true fungible coin. It also supports the concept of 'view key'. Using a 'view key' a user can share transaction details with a third party or an auditor. No one can spend coins using 'view key'. Governments are usually not greats fans of the anonymous cryptocurrency concept. Notably, the Japanese Financial Security Agency is already trying to ban such coins, as they worry that they can be used for illegal activities. However, Monero's community is strong and supportive and most probably a real market need for a privacy respecting coin will always be there. (eg. Monero is already a primary payment method for buying branded Tor onion domains).
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Monero Price USD
Monero Price USD
Monero Price USD
- Historical Data
- China's central bank lays regulatory foundation for CBDCCointelegraph.com News - 11 hours agoThe new draft law legitimizes digital yuan and may criminalize the issuance of yuan-backed stablecoins by third parties China’s central bank, the People’s Bank of…
- JPMorgan turns bullish on Bitcoin citing ‘potential long-term upside’Cointelegraph.com News - 12 hours agoA report from JPMorgan’s Global Markets Strategy division discusses three bullish reasons for Bitcoin’s long-term potential. JPMorgan, the $316 billion investment banking giant, said the…
- Gold smuggler's gait gives him away as Paypal launches price action moon mission: Bad crypto news of the weekCointelegraph.com News - 13 hours agoCheck out this week’s Bad Crypto podcast. It’s been quite a week for Bitcoin, a week we’ve been waiting for. The coin is up nearly…
- Ethereum researcher Virgil Griffith files motion to dismiss North Korea conspiracy chargeCointelegraph.com News - 15 hours agoGriffith argues that because his April 2019 conference presentation consisted of widely-available public information, he was not providing a “service” to North Korean officials Virgil…
- How US authorities are using old AML tools to crack down on cryptoCointelegraph.com News - 17 hours agoWith new changes to the Travel Rule up for discussion and a bevy of new cases in the courts, it’s time to look at how…