Monero Prioritizes Safety First
If you are a bit of a security and privacy paranoid, then you surely need to check out the Monero blockchain technology. Launched in 2014 it provides a range of techniques to save its users transactions from monitoring and tracking, continually improving its tech side and developing new methods. Battling with Zcash for the place under the Sun of privacy oriented cryptocurrency market, Monero was often found to be used by people interested in illicit activities.
Monero Technical Info
Monero means a coin in Esperanto; it was initially named BitMonero but was later renamed to simplify the name. Its ticker symbol is XMR. The digital currency doesn’t have a maximum amount cap, and new coins are created through mining. The mining can be conducted on usual PCs which make the system extremely decentralized. All
Guarding Your Privacy with XMR
Monero ensures the privacy of its users by employing a number of mechanisms. When you transfer Monero coins they are protected by the Ring signatures – instead of using only owner’s signature the system also adds other random users’ signatures as a decoy, so it is impossible to tell who the sender is. Ring CT (Confidential Transactions) hides the amount of money used in the transaction, while stealth addresses hide the receiving address. Kovri technologies are used to hide the actors’ IPs.