Monero (XMR) is a cryptocurrency designed to prioritize privacy, decentralization, and security.
It was launched in April 2014 as a fork of Bytecoin, using the CryptoNote protocol, which is the basis of its focus on anonymity and fungibility.
Unlike Bitcoin and other cryptocurrencies, Monero makes it impossible to trace transactions or identify participants, making it one of the most private options in the crypto world.
Through its decentralized blockchain network, Monero enables peer-to-peer transactions where no information about senders, receivers, or amounts transferred is revealed.
What makes Monero different from other cryptocurrencies?
Monero is primarily differentiated by its focus on three key principles:
Absolute Privacy:
Ring signatures: Combines the real transaction with other fake transactions to hide the origin of the money.
Stealth Addresses: Generates a unique address for each transaction, ensuring that only the recipient can identify it.
Confidential Transactions (RingCT): Hides transferred amounts so that they are invisible to third parties.
This makes all transactions private by default, unlike other cryptocurrencies like Bitcoin, where transactions are completely public.
Fungibility:
All Monero units have equal value and cannot be discriminated against or traced by their history, unlike Bitcoin, where some coins can be "flagged" if they are associated with illicit activities.
Decentralization and Accessibility:
Designed to be mined using conventional CPUs and GPUs, avoiding the concentration of mining power in large farms as occurs in Bitcoin.
Monero does not have a fixed block size, meaning it can dynamically scale based on transaction demand.
Featured use cases:
Financial Privacy: Ideal for individuals and businesses who want to keep their finances confidential.
Online Commerce: Used for purchases where the privacy of the buyer and seller is crucial.
International Remittances: Provides a secure and private way to transfer money anywhere in the world.
Censorship resistance: It is used in regions where traditional cryptocurrencies are subject to government or regulatory restrictions.
Whitepaper:
The original Monero whitepaper, titled "CryptoNote v 2.0", is available on its official website.
Monero (XMR) price evolution yearly:
This is a list of the approximate price of Monero at the end of each year since its creation:
2014: $0.25
2015: $0.47
2016: $13.35
2017: $349.10
2018: $46.18
2019: $44.84
2020: $156.30
2021: $243.50
2022: $146.20
2023: $160.32
2024: $159.81 (as of November 22)
* Monero has been adopted by both people concerned about their privacy and those seeking to escape financial restrictions in hostile environments.
However, its private nature has also generated controversy, as it has been used in dark markets and illicit activities.
Monero represents the vision of a truly private, fungible, and decentralized cryptocurrency, intended to protect the financial freedom of its users *
THIS CRYPTO IS NOT LISTED ON BINANCE DUE TO ITS GOVERNMENTAL AGREEMENTS
