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
- Nearly $55M worth of Bored Ape, CryptoPunks NFTs risk liquidation amid debt crisisCointelegraph.com News - 5 hours agoAnalysts are divided on whether the potential NFT liquidation event is a buy-the-dip opportunity. Many owners of precious Bored Ape Yacht Club (BAYC) and CryptoPunks…
- The Philippines pushes back against foreign exchanges, continuing a protectionist streakCointelegraph.com News - 5 hours agoThe Central Bank of the Philippines warns the public against using non-local crypto trading platforms. The pressure on crypto is growing swiftly in the Philippines.…
- MTV introduces the 'Best Metaverse Performance' award categoryCointelegraph.com News - 5 hours agoSix metaverse musical acts are up for nomination, including Ariana Grande, Justin Bieber and the K-Pop group BTS. The 2022 MTV Video Music Awards (VMAs)…
- Can exchanges create imaginary Bitcoin to dump price? Crypto platform exec answersCointelegraph.com News - 5 hours agoSerhii Zhdanov called for broader regulation in offshore crypto exchanges that do not go through financial audits. One of the most substantial value propositions of…
- Crypto market bloodbath leads to over $500M in liquidations in 24 hoursCointelegraph.com News - 6 hours agoData from crypto analytic firm Glassnode shows future long liquidation of BTC touched a new 8-month high as BTC price crashed below $22,000 on Friday.…
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 30 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 $ 2,728,968,332, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 411,100,775,547, Litecoin at $ 3,904,488,029, Ethereum at $ 204,564,153,121, Tether at $ 67,667,873,657, and XRP at $ 16,694,807,232.
What is the price of Monero (XMR) today (updated in realtime)?
The current price of Monero is $ 150.37 in USD. (The price in Euros is 149,04 €; and the price in Bitcoin is Ƀ 0.00699591 BTC.)
How has Monero (XMR) performed recently?
Monero‘s price has decreased in the last 24 hours by -8.43%. The change in price over the last seven days was -5.63%. The trading volume over the last 24 hours was $ 171,475,350. 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 18,147,820 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 $ 171,475,350.
What is Monero (XMR) official website?
Monero‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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