Things You Should Know About Monero
There is no doubt in saying that cryptocurrencies have become very popular in the past few years.
There are many cryptocurrencies available and one of the most popular among them is Monero.
Unlike other options, its provides some unique and very useful features. So if you have any questions related to monero,
then after reading this article, all of your doubts and confusion will be cleared. So let’s get started.
What is Monero?
its an open-source, decentralized cryptocurrency.
It is specially designed to provide secure, private and untraceable transactions.
It uses the cryptonote protocol, which is the backbone or you can say the main part of monero.
The main goal of its to be a secure, fungible and private currency.
The monero community is growing day by day and it has become very successful to attract people all over the world.
Along with this many new companies are entering the monero world.
its has also received amazing reviews and applause from some of the top professionals in the cryptocurrency community.
Another great thing about its that it has highly experienced programmers that provide constant updates and make
improvements regularly on the code base.
Origin Of Monero
The first real-life execution of cyrptonote was released back in July 2012.
Monero was started by a group of seven people.
Though five of them are still unknown while two developers came out in the spotlight and they are Riccardo Spangi,
also known as Fluffypony and David Latapie.
The best thing about this cryptocurrency is that the developers have built privacy into the protocol directly.
And there is no failure point that can risk the privacy of the users.
Reasons Of Increasing Popularity of Monero
As you all know that competition in the cryptocurrency community is very fierce and it is not that easy to make a unique identity of your product.
But despite having so many big competitors, monero has successfully created a good place for itself. The main reason behind its success is the features it provides.
So here are some of the main features behind its growing popularity:
1- Offers Complete Control- One of the best features of its that it provides you full control over your transactions. You are responsible for
your money because monero keeps your identity private and no one except you can see your transactions
2- Provides Excellent Technology- Another great feature of its technology.
The monero team has developed 3 new technologies to keep everything private, these include:
- Ring CT- It is made to keep your transaction amount private
- Ring Signature- It helps in keeping the sender’s address private
- Stealth Address- It helps in keeping the receiver’s address private
Is Monero Anonymous?
Yes, all the transactions on the monero are completely anonymous.
This maintains the privacy of the sender.
Written By : YOUSSEF J A ALMEER
Image rights @ express.co.uk