What is Monero?
Monero (launched 2014) is a privacy focused cryptocurrency which is based on Cryptonote technology. Privacy is built in its design by default for all the network participants. The development is currently led by Riccardo Spagni with a few other core protocol developers after splitting from the original Bitmonero project (forked from bytecoin) in 2014.
Monero has unbounded inflation, after emission of 18.132 million monero (May 2022), a constant tail emission of 0.6 XMR every 2 minutes will ck in resulting around 1% inflation per year. A permanent inflation keeps miners incentivized, thereby securing the network.
Monero enables untraceable and unlinkable transactions. It uses Ring signatures to protect sender identity, stealth address to protect recipient identity and Ring CT (Ring confidential transaction) to protect transaction amount. This is vastly different from Bitcoin where all transactions are visible to everyone and a sophisticated blockchain analysis can potentially reveal a user's identity. Monero is currently working on Kouri to integrate I2P (The invisible internet project) to protect users IP address as well.
In April 2018, Monero made an effort (successful so far) to become ASIC resistance, in order to prevent mining centralization. Monero's privacy feature makes a true fungible coin. It also supports the concept of 'view key'. Using a 'view key' a user can share transaction details with a third party or an auditor. No one can spend coins using 'view key'.
Governments are usually not greats fans of the anonymous cryptocurrency concept. Notably, the Japanese Financial Security Agency is already trying to ban such coins, as they worry that they can be used for illegal activities. However, Monero's community is strong and supportive and most probably a real market need for a privacy respecting coin will always be there. (eg. Monero is already a primary payment method for buying branded Tor onion domains).
Monero News And Market Price Data
- Historical Data
- US gov attorneys to target individuals and gatekeepers for crypto prosecutionsCointelegraph.com News - 1 hour agoMajor regulatory agencies plan to work harder to prosecute individuals and companies that have had dodgy dealings with digital assets. A group of high-level U.S.…
- SEC reportedly knocks back Valkyrie's leveraged Bitcoin ETFCointelegraph.com News - 2 hours agoThe SEC does not appear to have the appetite for more exotic Bitcoin futures products. Reports are emerging that the U.S. Securities and Exchange Commission…
- El Salvador buys a smokin' hot 420 more BitcoinCointelegraph.com News - 3 hours agoThe recent purchase brings the Latin American nation’s stash to about 1,120BTC. The President of El Salvador, Nayib Bukele tweeted earlier today that his government…
- Someone bought $3,400 worth of SHIB last August. It’s now worth $1.55 billionCointelegraph.com News - 4 hours agoA SHIB hodler who spent $3,400 on the memecoin last August is now a crypto billionaire from that purchase alone, with the asset gaining 94278239.8%%…
- Here’s why analysts say Bitcoin ETFs may ‘completely change the structure of the market’Cointelegraph.com News - 4 hours agoAnalysts still hold a bullish longterm view of Bitcoin price, but they also agree that the newly launched BTC ETFs are a game-changer. After reaching…
Monero Frequenty Asked Questions
Where does Monero (XMR) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Monero currently ranks in position 43 out of the top 1000 cryptocurrencies. Another important factor in popularity is Monero‘s market capitalization – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Monero has a market cap of $ 4,662,451,275, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 1,109,400,087,244, Litecoin at $ 12,491,876,743, Ethereum at $ 472,174,270,032, Tether at $ 70,924,669,079, and XRP at $ 47,147,366,010.
What is the price of Monero (XMR) today (updated in realtime)?
The current price of Monero is $ 259.99 in USD. (The price in Euros is 224,06 €; and the price in Bitcoin is Ƀ 0.00439499 BTC.)
How has Monero (XMR) performed recently?
Monero‘s price has decreased in the last 24 hours by -7.61%. The change in price over the last seven days was -0.44%. The trading volume over the last 24 hours was $ 340,297,915. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds, and it is considered a good indicator of popular interest in the currency.
What is Monero‘s (XMR) market supply?
The total circulating (available) supply of Monero is 18,014,122 XMR. The total supply of Monero is 0 XMR.
What is the 24 hour volume for Monero (XMR)?
The 24 hour volume of Monero is $ 340,297,915.
What is Monero (XMR) official website?
Monero‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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