The name of the Monero virtual currency has been borrowed from the Esperanto, in which "Monero" literally means a coin or currency. Token's first release has taken place in April, 2014. Contrary to Bitcoin's emission policy, the total amount of Monero tokens is not limited to a certain number: 18.4 million Monero tokens have been initially released, subsequent mining is to bring 0.6 new Monero coins for every two-minute block. Such policy was developed so that the miners could maintain the Monero blockchain even after the completion of the main emission.
Currently, cryptocurrency is primarily used for anonymous transactions. Monero virtual currency competed with such majors as Dash, LibertyCoin and AnonCoin, all of which strive for the maximum possible transactions anonymity. CryptoNote, used in the Monero blockchain, uses ring signature technology, a highly sophisticated scheme that may require the use of a range of different public keys for verification.
The main defining feature of Monero is its anonymity (it's founder, by the way, is also unknown). Thanks to a unique protocol, called CryptoNote, Monero users can make transactions with a very high level of secrecy. The sender, receiver and size of the transaction are recorded on a public ledger, but are concealed to reportedly make them untraceable.
This characteristic has made Monero an attractive coin for cybercriminals, e.g. the attackers responsible for the infamous WannaCry virus demanded payments in Monero. However, Monero has other interesting features, such as unlimited scalability, which few cryptocurrencies can boast.
Monero (XMR) is a private, secure, and untraceable cryptocurrency that was launched April 18th, 2014. With Monero, it is said you are in complete control of your funds and privacy no one else can see anyone else's balances or transactions.
Monero is cash for a connected world. It’s fast, private, and secure. With Monero, you are your own bank. You can spend safely, knowing that others cannot see your balances or track your activity.
* Forex Rating accepts no liability for any errors in the Monero Price or XMR Information. For the most recent information please visit the Monero official site.
The same day business intelligence firm MicroStrategy announced it would use $488 million from the proceeds of a private offering sale to buy Bitcoin...
15 Jun 2021
The U.S. Securities and Exchange Commision (SEC) has warned investors about the risks of Bitcoin futures trading - citing market volatility, a lack of regulation...
11 Jun 2021
Bitcoin's price jumped Wednesday by the most in two weeks amid mounting inflation concerns and hopes for mass adoption after El Salvador's parliament approved...
10 Jun 2021
Another bad week for Bitcoin could be a precursor of more pain to come, according to strategists watching the selloff in cryptocurrencies. Further weakness in its price may bring...
9 Jun 2021
RatingsForex Brokers Expert Advisors Trading Platforms Cryptocurrencies
Forex BrokersReviews & Comments Low Spread Brokers MT5 Brokers MT4 Brokers Bitcoin Brokers PayPal Brokers Scalping Brokers Best Forex Brokers Top Forex Brokers Compare Brokers How to Choose Open Forex Account
© 2006-2021 Forex-Ratings.com
The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.