Current PriceR$ 354.07
Last 30 Days
Monero was created as a basic cryptocurrency without pre-mining, launched in April 2014 as a result of a Bytecoin "fork". A "fork" occurs when an original crypto is divided by creating another version. This is one of the advantages of the open source currencies prevalent in most crypto-coins projects.
Monero's popularity in the world of crypto-coins has increased significantly primarily due to its anonymity feature. All users receive either a public address or a unique key. With Bitcoin, the recipient of the coins has the coins transferred to the owner's address which usually contains a link and identity data. Therefore it is possible to trace the entire flow of the coin.
However, transacting with Monero does not give the sender a view of the recipient's stream even though the sender knows the recipient's public address. Monero transactions are "deactivable" and "intractable". Anonymity is guaranteed because the coins are sent to a recipient from a redirection of another address that is randomly created to be used specifically for each transaction.
Monero's "ledger", unlike the blockchain, does not record the actual sender addresses of the sender and recipient. The only address that is recorded has no link to the actual address of any of the parties. Therefore, anyone who reviews the Monaco blockchain will not be able to track the addresses and people involved in any past or present transaction.
Monero was the best performing currency of 2016, going from $ 0.50 in early 2016 to more than $ 13 at the end of the year. As of April 2017, XMR was trading for more than $ 20, representing a gain of 3,800% since the beginning of 2016.