Monero (XMR) Price, Market Cap and Information

The name of the Monero virtual currency has been borrowed from the Esperanto, in which "Monero" literally means a coin or currency. Token's first release has taken place in April, 2014. Contrary to Bitcoin's emission policy, the total amount of Monero tokens is not limited to a certain number: 18.4 million Monero tokens have been initially released, subsequent mining is to bring 0.6 new Monero coins for every two-minute block. Such policy was developed so that the miners could maintain the Monero blockchain even after the completion of the main emission.

Currently, cryptocurrency is primarily used for anonymous transactions. Monero virtual currency competed with such majors as Dash, LibertyCoin and AnonCoin, all of which strive for the maximum possible transactions anonymity. CryptoNote, used in the Monero blockchain, uses ring signature technology, a highly sophisticated scheme that may require the use of a range of different public keys for verification.

The main defining feature of Monero is its anonymity (it's founder, by the way, is also unknown). Thanks to a unique protocol, called CryptoNote, Monero users can make transactions with a very high level of secrecy. The sender, receiver and size of the transaction are recorded on a public ledger, but are concealed to reportedly make them untraceable.

This characteristic has made Monero an attractive coin for cybercriminals, e.g. the attackers responsible for the infamous WannaCry virus demanded payments in Monero. However, Monero has other interesting features, such as unlimited scalability, which few cryptocurrencies can boast.

Monero (XMR) is a private, secure, and untraceable cryptocurrency that was launched April 18th, 2014. With Monero, it is said you are in complete control of your funds and privacy no one else can see anyone else's balances or transactions.

Monero is cash for a connected world. It’s fast, private, and secure. With Monero, you are your own bank. You can spend safely, knowing that others cannot see your balances or track your activity.

• Monero is secure. Monero is a decentralized cryptocurrency, meaning it is secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain. Third-parties do not need to be trusted to keep your Monero safe.
• Monero is private. Monero uses ring signatures, ring confidential transactions, and stealth addresses to obfuscate the origins, amounts, and destinations of all transactions. Monero provides all the benefits of a decentralized cryptocurrency, without any of the typical privacy concessions.
• Monero is untraceable. Sending and receiving addresses as well as transacted amounts are obfuscated by default. Transactions on the Monero blockchain cannot be linked to a particular user or real-world identity.
• Monero is fungible. Monero is fungible because it is private by default. Units of Monero cannot be blacklisted by vendors or exchanges due to their association in previous transactions.