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
- 3 reasons why Ethereum price might not hit $5,000 anytime soonCointelegraph.com News - 12 hours agoEthereum price might be bullish in the short term but there are a handful of factors that could keep the price pinned in its current…
- Pro traders look for this classic pattern to spot Bitcoin price reversalsCointelegraph.com News - 15 hours agoCrypto and stock traders view the inverse head-and-shoulders pattern as an early signal that a bullish trend reversal is in the making. Every trader aims…
- Amazon rumored to be accepting Bitcoin, MicoStrategy pledges to buy more BTC despite losses, Bitcoin struggles at $40K: Hodler’s Digest, July 25-31Cointelegraph.com News - 16 hours agoComing every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and…
- German law allowing institutional funds to hold crypto comes into effect Aug. 2Cointelegraph.com News - 19 hours agoAs much as $415 billion worth of investments could flow into cryptocurrencies as new laws governing German Spezialfonds go into effect. Beginning on August 2,…
- Bitcoin 'supercycle' sets up Q4 BTC price top as illiquid supply hits all-time highCointelegraph.com News - 20 hours agoRecent events mean that a Q4 “blow-off top” is now back on the menu as BTC price recovery clings to its 23% weekly gains. Bitcoin…
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 $ 4,382,439,404, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 776,473,434,721, Litecoin at $ 9,773,481,452, Ethereum at $ 300,602,824,667, Tether at $ 61,999,462,169, and XRP at $ 35,027,134,766.
What is the price of Monero (XMR) today (updated in realtime)?
The current price of Monero is $ 243.84 in USD. (The price in Euros is 205,08 €; and the price in Bitcoin is Ƀ 0.00589800 BTC.)
How has Monero (XMR) performed recently?
Monero‘s price has decreased in the last 24 hours by -0.42%. The change in price over the last seven days was 16.98%. The trading volume over the last 24 hours was $ 222,535,029. 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 17,964,415 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 $ 222,535,029.
What is Monero (XMR) official website?
Monero‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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