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
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.