[cryptocurrency series] Monero

There are over 1,600 cryptocurrencies in the market, which dazzles investors. Coinsnetwork will introduce the top 20 cryptocurrencies in the market with the highest market value, so that everyone can understand the assets of this new era.

Leading Founders: Riccardo Spagni and Francisco Cabañas

Founded: White Paper published in 2013

Main Network Launch: April 18, 2014

Issue Size: 16.251 million XMR

Introduction:

Monero (transcation code: XMR) is an open source cryptocurrency that was born after the improvement of Bytecoin. Monero is different from other cryptocurrencies derived from Bitcoin and is based on the CryptoNote protocol.

Monero’s currency emphasizes its characteristics as difficult to track, replaceable, safe and private. Since Monero uses ring signatures, ring confidential transactions, and stealth addresses, people can’t track payers, counterpart’s addresses, and transaction amounts through Monero, without sacrificing privacy.

In addition, because Monero is private by default, it can be replaced, meaning that each unit can be replaced by another unit. It will not be blacklisted by suppliers or exchanges due to associations in previous transactions.