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project icon for monero

Monero

XMR
$47.08
0.22%
Positive delta icon

Monero is an open source cryptocurrency that obfuscates every transaction’s sending address, receiving address, and transaction amount in order to maximize user financial privacy.

Overview

Project Stage

Live status icon

Amount Raised

Market Cap

$824MM

Sector

Cryptocurrency

Blockchain

Native token icon

Monero

Funding Source

Project Profile

For a comprehensive explanation and commentary, read the Monero Cryptoasset Report

Many electronic transactions in the existing financial system are structured such that hackers, spies, insiders, or other motivated third parties could discover a user’s purchase history, spending habits, or financial relations. Monero is a cryptocurrency network that provides guarantees against de-anonymization processes at the protocol level, facilitating fully private transactions. While many consider cryptocurrencies such as Bitcoin to offer an anonymous alternative, in reality, almost all are pseudonymous, as a record of each transaction is publically available on-chain and many participating wallet addresses can be de-anonymized with off-chain tools.

Monero uses a combination of stealth addresses and ring signature technology to obfuscate transaction details among participants and the network. At a high level, parties to an XMR transaction cannot access each other’s address or history, yet retain strong cryptographic guarantees that transactions are valid and XMR cannot be double-spent. The Monero blockchain is secured by Proof of Work (PoW) mining using the CryptoNight hash algorithm.

Protocol Details

The Monero community has been resistant to allowing Application Specific Integrated Circuits (ASICs) mine on the network, out of concern that ASIC-dominated PoW networks become centralized over time. In April 2018, Monero hard-forked to implement a hash algorithm code change that rendered Bitmain’s recently announced Monero ASIC miner obsolete. The block size is dynamic according to transaction demand and has a target block time of 1 minute. Monero employs a decreasing block reward structure to pay miners, which incentivizes their participation in securing the network and stabilizes at a 0.6 XMR reward per block in 2022.

Monero’s Core Team facilitates development by vetting donation-soliciting proposals on the project’s semi-official forum, allowing donors to anonymously back development initiatives. Monero is an open source cryptocurrency and the Core Team’s relation to the project is not hierarchical. Although the Core Team is a set of distributed pseudonymous individuals with loose affiliations to the open source currency, the Team also supports the project in several substantial respects on the de facto Monero website. The Core Team coordinates donation-based development funding, manages the project’s Github merges, and conducts scheduled hard forks every six months. Details on hard forks are announced via the Monero website. This practice of regular hard forking has made forks more a norm than exception with Monero and can speed up upgrade adoption periods. Monero has departed from the scheduled forking in certain cases, such as with the release of RingCT functionality.

Asset Details

The Monero network token, XMR, functions as a medium of exchange and potential store of value. Monero launched in mid-2014 as an implementation of the CryptoNote protocol. There was no pre-mine or token sale of XMR and codebase development is facilitated by a group of independent, generally anonymous contributors, currently led by Riccardo ‘fluffypony’ Spagni. Monero’s privacy guarantees allow users to more freely engage in activities such as tax evasion, money laundering, and the use of darknet markets, making Monero one of the more controversial cryptocurrencies.

project icon for monero

Monero

XMR
$47.08
0.22%
Positive delta icon

Monero is an open source cryptocurrency that obfuscates every transaction’s sending address, receiving address, and transaction amount in order to maximize user financial privacy.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
$824MM
Native token icon

Monero

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Cryptocurrency

Project Profile

For a comprehensive explanation and commentary, read the Monero Cryptoasset Report

Many electronic transactions in the existing financial system are structured such that hackers, spies, insiders, or other motivated third parties could discover a user’s purchase history, spending habits, or financial relations. Monero is a cryptocurrency network that provides guarantees against de-anonymization processes at the protocol level, facilitating fully private transactions. While many consider cryptocurrencies such as Bitcoin to offer an anonymous alternative, in reality, almost all are pseudonymous, as a record of each transaction is publically available on-chain and many participating wallet addresses can be de-anonymized with off-chain tools.

Monero uses a combination of stealth addresses and ring signature technology to obfuscate transaction details among participants and the network. At a high level, parties to an XMR transaction cannot access each other’s address or history, yet retain strong cryptographic guarantees that transactions are valid and XMR cannot be double-spent. The Monero blockchain is secured by Proof of Work (PoW) mining using the CryptoNight hash algorithm.

Protocol Details

The Monero community has been resistant to allowing Application Specific Integrated Circuits (ASICs) mine on the network, out of concern that ASIC-dominated PoW networks become centralized over time. In April 2018, Monero hard-forked to implement a hash algorithm code change that rendered Bitmain’s recently announced Monero ASIC miner obsolete. The block size is dynamic according to transaction demand and has a target block time of 1 minute. Monero employs a decreasing block reward structure to pay miners, which incentivizes their participation in securing the network and stabilizes at a 0.6 XMR reward per block in 2022.

Monero’s Core Team facilitates development by vetting donation-soliciting proposals on the project’s semi-official forum, allowing donors to anonymously back development initiatives. Monero is an open source cryptocurrency and the Core Team’s relation to the project is not hierarchical. Although the Core Team is a set of distributed pseudonymous individuals with loose affiliations to the open source currency, the Team also supports the project in several substantial respects on the de facto Monero website. The Core Team coordinates donation-based development funding, manages the project’s Github merges, and conducts scheduled hard forks every six months. Details on hard forks are announced via the Monero website. This practice of regular hard forking has made forks more a norm than exception with Monero and can speed up upgrade adoption periods. Monero has departed from the scheduled forking in certain cases, such as with the release of RingCT functionality.

Asset Details

The Monero network token, XMR, functions as a medium of exchange and potential store of value. Monero launched in mid-2014 as an implementation of the CryptoNote protocol. There was no pre-mine or token sale of XMR and codebase development is facilitated by a group of independent, generally anonymous contributors, currently led by Riccardo ‘fluffypony’ Spagni. Monero’s privacy guarantees allow users to more freely engage in activities such as tax evasion, money laundering, and the use of darknet markets, making Monero one of the more controversial cryptocurrencies.

Recent News

Monero conducts hard fork to alter PoW algorithm and reduce GPU activity.

Monero has previously conducted a series of hard forks to reduce the influence of ASIC miners, and is now taking this further step against GPUs. The new hash algorithm, RandomX, utilizes a random mix of integer, floating-point, and conditional operations that eliminates the benefit of the parallel computation for which GPUs are designed. RandomX is thus aimed at use by CPUs on consumer hardware, in line with Monero's aim of a widely distributed mining network.

December 8, 2019

Sources:

more

OKEx Korea delists all privacy-focused cryptocurrencies citing FATF's 'travel rule.'

Trading of Horizen, Zcash, Super Bitcoin, Monero and Dash will be suspended on October 10th, and users must withdraw these assets from the exchange by December 10th. The FATF's travel rule, part of its final guidelines on cryptocurrency regulation published in June, requires exchanges to share KYC information with each other during transactions.

September 16, 2019

Sources:

more

Symantec, a cyber-security firm, publish a report demonstrating a form of Monero mining malware (sometimes referred to as 'cryptojacking') is targeting enterprises in Asia

April 29, 2019

Sources:

CoinDesk
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project icon for monero

Monero

XMR
$47.08
0.22%
Positive delta icon

Monero is an open source cryptocurrency that obfuscates every transaction’s sending address, receiving address, and transaction amount in order to maximize user financial privacy.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
$824MM
Native token icon

Monero

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Cryptocurrency

Project Profile

For a comprehensive explanation and commentary, read the Monero Cryptoasset Report

Many electronic transactions in the existing financial system are structured such that hackers, spies, insiders, or other motivated third parties could discover a user’s purchase history, spending habits, or financial relations. Monero is a cryptocurrency network that provides guarantees against de-anonymization processes at the protocol level, facilitating fully private transactions. While many consider cryptocurrencies such as Bitcoin to offer an anonymous alternative, in reality, almost all are pseudonymous, as a record of each transaction is publically available on-chain and many participating wallet addresses can be de-anonymized with off-chain tools.

Monero uses a combination of stealth addresses and ring signature technology to obfuscate transaction details among participants and the network. At a high level, parties to an XMR transaction cannot access each other’s address or history, yet retain strong cryptographic guarantees that transactions are valid and XMR cannot be double-spent. The Monero blockchain is secured by Proof of Work (PoW) mining using the CryptoNight hash algorithm.

Protocol Details

The Monero community has been resistant to allowing Application Specific Integrated Circuits (ASICs) mine on the network, out of concern that ASIC-dominated PoW networks become centralized over time. In April 2018, Monero hard-forked to implement a hash algorithm code change that rendered Bitmain’s recently announced Monero ASIC miner obsolete. The block size is dynamic according to transaction demand and has a target block time of 1 minute. Monero employs a decreasing block reward structure to pay miners, which incentivizes their participation in securing the network and stabilizes at a 0.6 XMR reward per block in 2022.

Monero’s Core Team facilitates development by vetting donation-soliciting proposals on the project’s semi-official forum, allowing donors to anonymously back development initiatives. Monero is an open source cryptocurrency and the Core Team’s relation to the project is not hierarchical. Although the Core Team is a set of distributed pseudonymous individuals with loose affiliations to the open source currency, the Team also supports the project in several substantial respects on the de facto Monero website. The Core Team coordinates donation-based development funding, manages the project’s Github merges, and conducts scheduled hard forks every six months. Details on hard forks are announced via the Monero website. This practice of regular hard forking has made forks more a norm than exception with Monero and can speed up upgrade adoption periods. Monero has departed from the scheduled forking in certain cases, such as with the release of RingCT functionality.

Asset Details

The Monero network token, XMR, functions as a medium of exchange and potential store of value. Monero launched in mid-2014 as an implementation of the CryptoNote protocol. There was no pre-mine or token sale of XMR and codebase development is facilitated by a group of independent, generally anonymous contributors, currently led by Riccardo ‘fluffypony’ Spagni. Monero’s privacy guarantees allow users to more freely engage in activities such as tax evasion, money laundering, and the use of darknet markets, making Monero one of the more controversial cryptocurrencies.

Recent News

Monero conducts hard fork to alter PoW algorithm and reduce GPU activity.

Monero has previously conducted a series of hard forks to reduce the influence of ASIC miners, and is now taking this further step against GPUs. The new hash algorithm, RandomX, utilizes a random mix of integer, floating-point, and conditional operations that eliminates the benefit of the parallel computation for which GPUs are designed. RandomX is thus aimed at use by CPUs on consumer hardware, in line with Monero's aim of a widely distributed mining network.

December 8, 2019

Sources:

more

OKEx Korea delists all privacy-focused cryptocurrencies citing FATF's 'travel rule.'

Trading of Horizen, Zcash, Super Bitcoin, Monero and Dash will be suspended on October 10th, and users must withdraw these assets from the exchange by December 10th. The FATF's travel rule, part of its final guidelines on cryptocurrency regulation published in June, requires exchanges to share KYC information with each other during transactions.

September 16, 2019

Sources:

more

Symantec, a cyber-security firm, publish a report demonstrating a form of Monero mining malware (sometimes referred to as 'cryptojacking') is targeting enterprises in Asia

April 29, 2019

Sources:

CoinDesk
Load More