All you need to know about Monero

[Romanengo]

Monero is a cryptocurrency released on the market in 2014 on April 18, however under the name bytecoin, only then the community decided to rename the coin to monero. The currency is extremely anonymous.

Due to the complete anonymity of transactions and the growing popularity of the coin, the company decided that illegal transactions (drugs, cp, weapons) are carried out using the coin. However, later in October of this year, in the EUROPOL report on the most popular currency among cybercrime, Bitcoin is still. At the end of this year, the currency entered the list of 20 cryptocurrencies with the largest market capitalization.

In September 2014, a well-planned attack was made on the currency. However, the hackers could not destroy monero.

Currency has its drawbacks:

Transactions of this coin take up 8 times more space than Bitcoin transactions.

In 2018, a vulnerability was discovered allowing to remove a cryptocurrency deposit.

Now to the main:

Monero works on the principle of POW (proof-of-work).

The main feature of Monero is the use of the CryptoNote protocol based on ring signatures.

Currency is mainly used for confidential transactions. But it can also be seen as a payment method in online casinos and some MMORPGs.

At the moment, the coin costs $ 46.2052 with a starting rate of $ 42. Its market capitalization is $ 802,614,601.

Have you ever dealt with this currency?

[wry]

Yes, I have used Monero!  I was excited about it's privacy features but at the time the fees to send the coin were just prohibitively high.  I think I got a little from a guy on reddit to try and it just wasn't worth it.

So while I appreciate its potential, far from a mainline coin for me.

[williamshennie9]

It really does seem like a promising coin, with great privacy benefits. With so many coins out there, successful ones need some edge over the others to set them apart from their competition.