What is Monero (XMR)?

Monero – XMR

Privatised blockchains will become crucial when we near global Crypto adoption.

This is a Project Review on XMR.






What is Monero – XMR?

Monero $XMR is one of the oldest blockchains and cryptocurrencies that first launched in 2014. Monero was the first to become a privacy-focused blockchain that proved to be essential in the world of Web 3. Why do we need Monero?

The biggest problem that most blockchains face is privacy! Anyone and everyone can look straight into your wallet. Every transaction can be tracked and traced. This needs to change, hence why Monero created the ultimate privatised network for peer-to-peer transactions.

How does Monero Work?

The Monero blockchain runs on the Proof-of-Work (PoW) consensus mechanism just like the leading blockchain, Bitcoin. The vital question to ask is, how does the network guarantee 100% privacy?

Well, let me explain:

First, we have Ring Signatures, and the best way to explain it is through an example. When a user makes an $XMR transaction, Monero will mix your digital signature between 10 other signatures. This makes it impossible for anyone to guess your signature!

Second, we have RingCT. RingCT stands for Ring Confidential Transactions, which will conceal the quantity of $XMR coins that users transfer.

Third, is the feature that makes it impossible to track a wallet address. Monero uses what’s called, Stealth Addresses. This feature will create multiple one-off accounts under one address for every transaction made.

How does the receiver know who or if they will receive the transaction?

Simply put, users have a discreet View Key that is exclusive to their transactions and allows the receiver to track any incoming funds! Why doesn’t every network have this feature…

These privacy features create the most confidential #blockchain experience possible! As time has gone on, we seem to be losing more privacy every single day. We should at least have complete privacy over our finances, it should be a given!

$XMR Token

$XMR is the native currency on the #Monero blockchain, which can be used as a means of exchange with anything available on the network such as goods, services and other cryptocurrencies. Miners of the network are also rewarded with $XMR.

Outside of the Monero network, you can spend your $XMR coins at partnered merchants. You could say that Monero $XMR is a private version of Bitcoin $BTC. Once Crypto is used worldwide, the Monero network will be sure to experience a serious surge in users!


At the time of writing, the $XMR token is sitting at a price of $153.59 with a market cap of $2.8B, ranking $XMR the 23rd largest #cryptocurrency. $XMR has seen an ATH of $517.62 with a market cap of $8.5B and has the power to achieve that once again.


Monero Twitter – @Monero

Monero Website – https://www.getmonero.org/



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