Rank: # 26
Market Cap: $ 3,150,273,711
Volume (24hrs): $ 71,684,519
Circulating Supply: 18,147,820 XMR
Price in BTC: Ƀ 0.00401220
Change (1 Hr): -0.33%
Change (7 Days): 3.00%
Change (30 Days): 4.96%
All Time High: $ 542.33
All Time High Date: January 9, 2018
- Historical Data
- FTX to submit revised reorganization plan in mid-DecemberCointelegraph.com News - 37 minutes agoBankrupt crypto exchange FTX is preparing to present an updated reorganization plan to the court in mid-December. The Official Committee of Unsecured Creditors has written…
- Web3 firms to support ecosystem development through grants amid market uptickCointelegraph.com News - 1 hour agoThe Worldcoin Foundation rolled out a $5 million grant to support its community through WLD tokens or stablecoins. As Bitcoin (BTC) soared past the $40,000 mark…
- Russia debuts cross-border payments in Tether stablecoinCointelegraph.com News - 1 hour agoIn addition to Tether, companies transacting through the Exved system can use the U.S. dollar and the offshore ruble, the platform said. One of the…
- Polygon 2.0: 2024 to see unified ZK-powered L2 chainsCointelegraph.com News - 2 hours agoPolygon’s evolution will continue into 2024 as various protocols that make up its ecosystem become increasingly interconnected through the use of zero-knowledge proofs. Polygon co-founder…
- Why is XRP price up today?Cointelegraph.com News - 3 hours agoXRP’s price has gained over 4.5% in the past 24 hours amid speculations of Ripple’s reduced settlement costs to the U.S. SEC. The price of…
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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