What is Monero?
Monero is a cryptocurrency that prioritizes privacy and confidentiality, utilizing a blockchain with privacy-enhancing technologies to obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading Monero, transaction amounts, address balances, or transaction histories. Monero is an open-source cryptocurrency that champions censorship resistance and ensures that transactions remain confidential and untraceable.
Monero goals
The purpose of Monero is to provide a private and censorship-resistant means of transaction, allowing users to maintain their anonymity. Monero aims to solve the problem of lack of privacy in most existing cryptocurrencies, which have transparent blockchains that can be verified and/or traced by anyone. Potential use cases and applications of Monero include preventing corporate espionage, secure e-commerce transactions, and specialized contexts like the dark web, where data privacy is a top concern.
Monero fondamentals
The total supply of Monero tokens is 18446744 XMR. The market capitalization of Monero is $4139393920. The current price of Monero is $230.08. The token distribution plan is not specified, but it is known that new coins are issued to miners through the RandomX proof-of-work algorithm.
Marketcap
$4.139B
Total number of Monero
18446744 XMR
Monero technology
Monero's technology is based on the CryptoNote v2 protocol, which uses a proof-of-work algorithm called RandomX to validate transactions. The protocol is open-source and includes various methods to obfuscate transaction details, such as Ring Confidential Transactions and Bulletproofs. Monero's blockchain is designed to be resistant to application-specific integrated circuit (ASIC) mining.
Monero competitors
Monero differentiates itself from competitors through its focus on privacy and anonymity, utilizing advanced technologies such as Ring Confidential Transactions and Bulletproofs. This sets it apart from more transparent cryptocurrencies like Bitcoin and Ethereum. Monero's competitive advantage lies in its ability to provide untraceable transactions, making it a popular choice for users seeking anonymity.
Monero price history
Frequently asked questions
Yes, Monero is a decentralized peer-to-peer cryptocurrency.
Monero's primary use case is for private, peer-to-peer transactions utilizing its obfuscated blockchain ledger.
No, Monero's blockchain is not transparent. It uses privacy-enhancing technologies to obfuscate transactions.
No, Monero transactions are designed to be untraceable.
The purpose of Monero's RandomX algorithm is to validate transactions and issue new coins to miners.
Yes, Monero's blockchain is designed to be resistant to application-specific integrated circuit (ASIC) mining.
Monero champions censorship resistance and ensures that transactions remain confidential and untraceable.
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