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Monero

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Description

What does Monero do?

Monero strives to provide a fully fungible currency capable of anonymous transactions. By making transactions on Monero private by default, Monero is fully fungible. The past transactions of any XMR, the native coin of Monero, can never be viewed. The project forked from Bytecoin for the purpose of allowing individuals to mine even without expensive mining hardware, making mining fair for everyone.

One interesting aspect of Monero is that it is fully open-source with no financial compensation allocated for its developers. Developers of Monero work only to create a valuable product that they wish to use themselves.

What is XMR used for?

XMR is used to pay for goods and services. The currency is capable of secure, private, untraceable, and fungible transactions. Because of its superior privacy, Monero has become accepted as one of the native currencies on Darknet Markets (like the Silk Road) alongside Bitcoin. It is well-suited for anonymous Peer to Peer transfers, as well.

Another common use of Monero is to help users buy and sell Bitcoin in a more private manner.

How can XMR value appreciate?

Monero is not accepted in many locations and it is not easy to use. If the team behind the project can improve on these issues, the value of XMR is likely to appreciate.

Since there are many governments that are wary of cryptocurrencies (with many even banning cryptocurrencies altogether) Monero’s untraceable nature may be very attractive. If individuals of these countries decide they want to use cryptocurrencies, Monero may be a suitable choice for them. This type of scenario would make XMR appreciate considerably.

What is the difference between Monero and its competitors?

Monero is widely considered to be secure and untraceable. Thanks to the platform’s dynamic block size, it is also highly scalable and provides a block time of around 2 minutes. Unfortunately, Monero is not easy to use and requires using the command line.

One unique aspect of Monero is that it can be mined by JavaScript software to an extent. This makes it possible for any device capable of loading webpage to participate in mining Monero.

  • Mainnet Launch: April 2014
  • Open Source: Yes
  • Consensus Type: PoW
  • Technology: Blockchain
  • Total Coin Supply: 16,020,197
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Does the project’s message make sense?

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Coin Utility
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Versatility

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Description

What does Monero do?

Monero strives to provide a fully fungible currency capable of anonymous transactions. By making transactions on Monero private by default, Monero is fully fungible. The past transactions of any XMR, the native coin of Monero, can never be viewed. The project forked from Bytecoin for the purpose of allowing individuals to mine even without expensive mining hardware, making mining fair for everyone.

One interesting aspect of Monero is that it is fully open-source with no financial compensation allocated for its developers. Developers of Monero work only to create a valuable product that they wish to use themselves.

What is XMR used for?

XMR is used to pay for goods and services. The currency is capable of secure, private, untraceable, and fungible transactions. Because of its superior privacy, Monero has become accepted as one of the native currencies on Darknet Markets (like the Silk Road) alongside Bitcoin. It is well-suited for anonymous Peer to Peer transfers, as well.

Another common use of Monero is to help users buy and sell Bitcoin in a more private manner.

How can XMR value appreciate?

Monero is not accepted in many locations and it is not easy to use. If the team behind the project can improve on these issues, the value of XMR is likely to appreciate.

Since there are many governments that are wary of cryptocurrencies (with many even banning cryptocurrencies altogether) Monero’s untraceable nature may be very attractive. If individuals of these countries decide they want to use cryptocurrencies, Monero may be a suitable choice for them. This type of scenario would make XMR appreciate considerably.

What is the difference between Monero and its competitors?

Monero is widely considered to be secure and untraceable. Thanks to the platform’s dynamic block size, it is also highly scalable and provides a block time of around 2 minutes. Unfortunately, Monero is not easy to use and requires using the command line.

One unique aspect of Monero is that it can be mined by JavaScript software to an extent. This makes it possible for any device capable of loading webpage to participate in mining Monero.

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