Monero (XMR)

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Monero is a cryptocurrency that seeks to provide absolute transnational privacy in an effort to create true electronic cash. With unlinkable and untraceable transactions Monero is resistant to blockchain analysis. To achieve this Monero uses ring signature to obfuscate spending of outputs by allowing you to do a 1-of-N input for a transaction. A passive feature built in to the core of Monero that doesn’t require third-party participation unlike features found in Dash or CoinJoin for Bitcoin.

Monero’s Technical Advantages


  • Monero uses a different elliptic curve than Bitcoin for signing (EdDSA, which uses Schnorr signatures on a Twisted Edwards curve).
  • Monero uses a different hashing algorithm than Bitcoin for PoW, which is AES heavy and currently performs similarly on GPUs and CPUs. One of the main downsides to this is that sidechains are currently impossible (validation takes too long), however as sidechains don’t actually exist right now we’ve been ignoring this. If we want to add sidechain support in the future, the hashing algorithm can be change to something simple. In the meantime, the algorithm is relatively “egalitarian” in that no specialized hardware is required.
  • One time use addresses (“stealth addressing”) is mandatory for all transactions. This makes light clients very difficult to secure or create in general, but it dramatically enhances privacy because it’s impossible to ever reuse an address.
  • All transactions are denominated in base 10, and fractionated by mantissa.
  • Ring signatures obfuscate spending of outputs by allowing you to do a 1-of-N input for a transaction where you spend funds from Bob OR Alice OR Michael OR Claire OR etc. Like one time use addresses, this is a passive privacy technology that doesn’t require any active participation of anyone in the network (unlike DarkCoin, CoinJoin, and so on).
  • A single pair of private keys is used for the recovery of all outputs owned by a wallet, but with a different type of data structure than BIP32 has (viewkey/secretkey).
  • An implicit, silent multisig implementation centered around Schnorr signatures is being researched and developed.
  • Research is ongoing into ways to break our privacy technology and improve it. See: https://lab.monero.cc/
  • Monero is readily auditable from a regulatory perspective (you can easily prove your ownership of funds if you need to, for example to tax agencies).
  • It has a much faster emissions (subsidy/reward) curve than Bitcoin. 80% is mined within 4 years. The emissions curve is also much smoother than for Bitcoin, with reward decreasing every block.
  • Unlike Bitcoin, Monero will have long term perpetual inflation. Subsidy will become fixed in about 10 years time at a flat rate of less than 1%, to keep the chain from becoming fully deflationary and to better incentivize miners. This makes it more likely to be useful as a currency than Bitcoin.
  • Monero News & Articles (view all)


    Latest Monero Videos (view all)


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    Some people desire privacy - others don't. If you're in the former group, here are three ways you can..


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    The Future of Hashocracy: Evolution, Overhaul,

    A basic network of proof-of-work miners, a "hashocracy" is the governance model of Bitcoin, Ethereum, Litecoin, Dogecoin, and Monero...


    To get started with Monero you first need to download a wallet for your particular device and operating system. A Monero wallet stores your private keys and enables you to send and receive Moneros. You can choose between desktop, mobile, web or hardware wallets designed for a variety of operating systems. For more in-depth specifications we recommend you to check out our cryptocurrency wallet directory.

    Monero Wallets


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    BIT.AC for Windows, Mac, Android

    BIT.AC is a sophisticated multi-currency digital crypto wallet, formed by a group of Bitcoin enthusiasts with extensive IT security..


    The Monero mining process involves compiling recent transactions into blocks while trying to solve a computationally difficult puzzle. The first participant (miner or group of miners) who solves the puzzle gets to place the next block on the blockchain and claim the rewards. The rewards incentivize miners to uphold and secure the Monero network. Below you find detailed information and reviews about Monero mining hardware, mining software, mining pools and cloud mining services.

    Monero Cloud Mining Services


    Monero Mining Hardware


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    XFX 7990 (1100 H/s for CryptoNight)

    The XFX AMD Radeon HD 7990 graphics card packs two 28nm Tahiti GPUs running at a base clock speed..


    Monero Mining Software


    MinerGate 1-click GUI miner

    The MinerGate miner is a very convenient desktop application for all popular operating systems that allows for mining different..


    Monero Mining Pools


    ProHashing

    ProHashing.com is a mining pool that mine the currently most profitable scrypt coin at any give moment. Choose from..


    MinerGate

    MinerGate is a new pool where you can mine Bitcoin, Ethereum, Ethereum Classic, Litecoin and CrytoNote-based currencies such as..


    The easiest way to buy Monero is through a cryptocurrency exchange. There is a variety of exchanges where you can trade Monero for fiat currencies or other cryptocurrencies. Below you find exchanges currently trading with Monero.

    Monero Exchanges


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    Bter

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    Services Accepting Monero


    Stores Accepting Monero


    Monero Marketplaces


    Monero Gambling & Betting Sites


    NameMonero
    Symbol/TagXMR
    Genesis Block CreatedApril 2014
    Hashing AlgorithmCryptoNight
    Validation SystemProof-of-Work
    Block Time2 Minutes
    Total Coins to be Issued18,446,744,073,709,551,616
    Source CodeGithub
    Websitehttps://getmonero.org/home
    Forumhttps://forum.getmonero.org
    DownloadsLinux, Mac, Windows
    Share on Facebook0Google+0Share on Reddit0Tweet about this on Twitter

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