Monero (XMR) General Information

Monero is a decentralized peer-to-peer cryptocurrency that offers high level of anonymity for users and their transactions. Unlike Bitcoin, Monero is characterized as a private digital cash. Transactions on the Monero blockchain cannot be linked to a particular user or real-world identity. The cryptocurrency was launched in April 2014 as a fork of Bytecoin.

Monero (XMR) Technology

Monero is based on the CryptoNight proof-of-work hash algorithm. The CryptoNight comes from the CryptoNote protocol and compared to blockchain obfuscation it possesses significant algorithmic differences. Monero is fungible because it is private by default. This means meaning that every unit of the currency can be substituted by another unit and Monero units cannot be blacklisted by vendors or exchanges due to their association in previous transactions. Monero also has a feature called the ring signature that mixes the spender's input with a group of others, making it difficult to establish a link between each subsequent transaction. What is also particular about this cryptocurrency is the distinct way of handling transaction by splitting the amount transferred into multiple amounts, and treating each as a separate transaction.

Monero (XMR) Trading

Monero has a circulating supply of only 16 million. As volume is smaller it is priced at $150+. The daily trading volume is at around 17 million and the market cap is at 2.5 billion. Monero is traded 80 different trading platforms with the biggest 24h trading volume on HitBTC and Binance.