Market Cap
$2,703,308,171.24
Volume (24 H)
$114,173,580.12
XMR with marketcap of BTC
$39,654.5302
Monero / U.S. Dollar Tweet Timeline of TheBirbNest

XMR Sentiment Score of TheBirbNest

Tweets

About Monero

What Is Monero (XMR)?

Monero was launched in 2014, and its goal is simple: to allow transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography.

The team behind Monero say privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users — irrespective of how technologically competent they are.

Overall, XMR aims to allow payments to be made quickly and inexpensively without fear of censorship.

Who Are the Founders of Monero?

Seven developers were initially involved in creating Monero — five of whom decided to remain anonymous. There have been rumors that XMR was also invented by Satoshi Nakamoto, the inventor of Bitcoin.

XMR’s origins can be traced back to Bytecoin, a privacy-focused and decentralized cryptocurrency that was launched in 2012. Two years later, a member of the Bitcointalk forum — only known as thankful_for_today — forked BCN’s codebase, and Monero was born. They had suggested “controversial changes” to Bytecoin that others in the community disagreed with and decided to take matters into their own hands.

It’s believed that hundreds of developers have contributed to XMR over the years.

What Makes Monero Unique?

There are several things that make Monero unique. One of the project’s biggest aims is achieving the greatest level of decentralization possible, meaning that a user doesn’t need to trust anyone else on the network.

Privacy is achieved through a few distinctive features. Whereas each Bitcoin in circulation has its own serial number, meaning that cryptocurrency usage can be monitored, XMR is completely fungible. By default, details about senders, recipients and the amount of crypto being transferred are obscured — and Monero advocates says this offers an upper hand over rival privacy coins such as Zcash, which are “selectively transparent.”

Obfuscation is achieved through the use of ring signatures. Here, past transaction outputs are picked from the blockchain and act as decoys, meaning that outside observers can’t tell who signed it. If Ian was sending 200 XMR to Susan, this amount could also be split into random chunks to add a further level of difficulty.

To ensure that transactions cannot be linked to one another, stealth addresses are created for every single transaction that are only used once.

All of these distinctive features have led to XMR being increasingly used for illicit transactions instead of Bitcoin — especially on darknet markets. Governments around the world, especially the U.S., have also offered hundreds of thousands of dollars to anyone who can crack Monero’s code.

Related Pages:

Find out about Zcash, another privacy coin

All you need to know about the basics of crypto

What is a ring signature?

CoinMarketCap Blog: Interviews with top crypto influencers

How Many Monero (XMR) Coins Are There in Circulation?

Monero is slightly unusual as a token sale wasn’t held for XMR — and no tokens were premined either. At the time of writing, the circulating supply of XMR stands at 17,703,471.

This cryptocurrency is designed to be resistant to application-specific integrated circuits, which are commonly used for mining new Bitcoin. In theory, this means that it can be possible to mine XMR using everyday computing equipment.

Overall, there will eventually be a total of 18.4 million XMR in circulation — and this cap is expected to be reached on May 31, 2022. After this, miners will be incentivized using “tail emissions,” with a small amount of XMR being fed into the system every 60 seconds as a reward. It is believed this approach is more effective than relying on transaction fees.

How Is the Monero Network Secured?

One of Monero’s main goals has to prevent centralization — and this network uses a consensus mechanism called CryptoNight, which is based on proof-of-work. This prevents large mining farms from becoming a dominant force.

Where Can You Buy Monero (XMR)?

Because of its nature as a privacy coin, XMR isn’t listed on some major exchanges. For example, although you can buy XMR on Binance, it isn’t supported by Coinbase. As a result, you may need to convert your fiat into Bitcoin and go through a smaller trading platform. This guide helps explain how you can convert fiat currencies into crypto with ease. As it’s use grows there has been increased interest in the XMR to AUD and XMR to EUR price pairs.

Latest News On Monero

Monero: The Privacy Coin Explained - CoinDesk

Monero: The Privacy Coin Explained CoinDeskMonero and the complicated world of privacy coins TechTarget4 Reasons Privacy Coins Haven't Taken Off NasdaqMonero (XMR) is the True Private and Fungible Cryptocurrency The Cryptocurrency AnalyticsMonero (XMR) Trouble For Regulators With Its Complete Anonymity Feature RecentlyHeard.comView Full Coverage on Google News

Tue, 25 Jan 2022 16:09:02 GMT

5 Features That Differentiate XMR from Other Cryptocurrencies - Qrius

5 Features That Differentiate XMR from Other Cryptocurrencies Qrius

Mon, 24 Jan 2022 05:14:11 GMT

A Step-by-Step Guide to Going Private - CoinDesk

A Step-by-Step Guide to Going Private CoinDesk

Thu, 27 Jan 2022 20:37:00 GMT

Monero (XMR): Does it Score Well on Long-Term Trading Metrics Friday? - InvestorsObserver

Monero (XMR): Does it Score Well on Long-Term Trading Metrics Friday? InvestorsObserver

Fri, 28 Jan 2022 18:46:32 GMT

Bitcoin, Ethereum, Crypto News and Price Data - Coindesk

Bitcoin, Ethereum, Crypto News and Price Data Coindesk

Tue, 25 Jan 2022 13:59:58 GMT

These 2 Cryptocurrencies Could Double in 2022 - Yahoo Canada Finance

These 2 Cryptocurrencies Could Double in 2022 Yahoo Canada Finance

Sat, 22 Jan 2022 16:00:00 GMT

Bear Arms N' Bitcoin 2022, Miami, April 9 To 10 - Bitcoin Magazine

Bear Arms N' Bitcoin 2022, Miami, April 9 To 10 Bitcoin Magazine

Thu, 27 Jan 2022 15:23:21 GMT

PYMNTS Crypto Crime Series: When Privacy Counts, Crypto Users Turn to Mixing Services - pymnts.com

PYMNTS Crypto Crime Series: When Privacy Counts, Crypto Users Turn to Mixing Services pymnts.com

Wed, 26 Jan 2022 06:39:26 GMT

LetsExchange Reports 100x Growth of Its Crypto Exchange Platform | Bitcoinist.com - bitcoinist.com

LetsExchange Reports 100x Growth of Its Crypto Exchange Platform | Bitcoinist.com bitcoinist.com

Fri, 28 Jan 2022 10:53:30 GMT

First Mover Asia: Bitcoin Nears $37K Amid Lighter Trading - CoinDesk

First Mover Asia: Bitcoin Nears $37K Amid Lighter Trading CoinDesk

Tue, 25 Jan 2022 23:37:00 GMT
0.7%
Average Weekly ROI
8.7%
Average Monthly ROI