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Monero

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1 XMR = 154.85 USD
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What Is Monero?

Launched in 2014, Monero (XMR) is the first cryptocurrency that prioritizes user privacy and fungibility. In contrast to other popular cryptocurrencies such as Bitcoin or Ethereum, which can be tracked on public ledgers, Monero ensures transactions remain untraceable and private, capturing the attention of users, investors, and privacy advocates alike.

Under the pseudonym "Thankful_for_today," Monero was originally developed and later nurtured by a dedicated group of developers, adhering to principles of decentralization, community-driven development, and anonymity. While forked from the Bytecoin codebase, it underwent substantial enhancements and optimizations, establishing itself as an independent and private coin.

Resources

Whitepaper: https://github.com/monero-project/research-lab/blob/master/whitepaper/whitepaper.pdf

Official website: https://www.getmonero.org/

How Does Monero Work?

Monero's privacy features are underpinned by five key technologies:

- Ring Signatures enable transaction anonymity by combining a user's signature with others in the network, forming an indistinguishable "ring" of potential signers, effectively masking the true sender.

- Ring Confidential Transactions (RingCT) conceals transaction amounts, encrypting this information so that only the sender and receiver can access it, maintaining the confidentiality of each Monero coin's transaction history.

- Stealth Addresses adds an extra layer of privacy by generating unique, one-time addresses for each transaction, making it exceedingly difficult to link the receiver's address to their identity.

- To bolster privacy, Monero allows transactions to be conducted over the anonymous Tor and I2P networks, obscuring the origin and destination of transactions and protecting users' IP addresses and physical locations.

- Dandelion++: Monero further enhances transaction privacy with the Dandelion++ protocol. Transactions pass through a "stem" phase, shared with a single neighboring node, before probabilistically being broadcast to the entire network, making it tough for adversaries to trace the transaction's origin.

What Determines Monero's Price?

Understanding the factors that influence the current price of Monero (XMR) is crucial for both investors and traders in the cryptocurrency market. As a privacy-focused cryptocurrency, Monero's price today is determined by a variety of elements, including market demand, investor sentiment, and macroeconomic indicators.

Unique Aspects Affecting Monero Price

One unique aspect affecting Monero's value is its strong focus on privacy and anonymity. This has led to Monero's adoption for various use-cases, both legitimate and illicit, which in turn impacts its USD price. Moreover, this privacy feature has made Monero a subject of regulatory scrutiny, another factor that can affect its price.

Monero Market Cap and its Importance

Monero's market cap serves as a vital indicator of its overall market value. Calculated as the Monero price in USD multiplied by its circulating supply, the market cap provides insights into Monero's potential for growth or decline.

Technological Advancements and Monero's Price

Advancements in Monero's technology can also influence its current price. Upgrades aimed at enhancing its privacy features, as well as its mining algorithm designed to be more egalitarian compared to other cryptocurrencies, are factors often considered in Monero price analysis.

Tools for Monero Price Analysis

Monero price predictions often involve examining its price chart and historical price data. Tools like a Monero price calculator can be useful for investors who wish to convert the XMR price to their preferred currency.

Other Influential Factors

Trading volume, recent Monero price news, and the overall state of the cryptocurrency market are also significant influencers. For instance, during a 'crypto winter,' where most cryptocurrencies experience a downward trend, Monero is likely to follow suit.

Conclusion

In summary, Monero stands as a pioneer in prioritizing user privacy and fungibility within the cryptocurrency space. With its untraceable transactions and innovative technologies, it continues to be a compelling choice for users, investors, and privacy advocates alike.

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coin.24Hcoin.7dayscoin.30dayscoin.90dayscalculator.common.one_yearcoin_market.all_time
-3.87%-1.29%+4.55%-0.84%-8.97%+6158.98%

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24h$154.2$162.1
7d$154.2$165.63
30d$135.4$165.63
90d$135.4$178.7
1y$101.14$182.26
coin_market.all_time$0.2130(2015-01-14, coin_market.years_ago )$517.62(2021-05-07, coin_market.years_ago )

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$2,856,496,191.57
-3.87%
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$2,856,496,191.57
-3.87%
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$53,169,870.99
-4.45%
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+99.00%
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0.0186
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18,446,744 XMR
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18,446,744.07 XMR
-- XMR
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3.9
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2.31K(#104)
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1.18K
+10%
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478(#57)
+30%
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0.04%
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10
-17%
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90%
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10%
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0%
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coin_price.reddit_score(24h)
544
coin_price.reddit_ posts(24h)
169
+11%
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0
0%

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Safest Ways of Exchanging USDT to XMR
Safest Ways of Exchanging USDT to XMR
Cointime2024-10-22 09:42
Gang Caught in Japan Scamming with a Surprise Altcoin
Gang Caught in Japan Scamming with a Surprise Altcoin

In Japan, where cryptocurrency use is intense, criminals have also mixed an altcoin into their fraud methods.

Bitcoinsistemi2024-10-22 08:18
Japan cracks Monero money laundering case, arrests 18
Japan cracks Monero money laundering case, arrests 18

Share link:In this post: Japan’s police arrested 18 people, including Yuta Kobayashi, for laundering over 100 million yen using Monero, a privacy-focused cryptocurrency. Kobayashi’s group used stolen credit card info and made 900 fraudulent transactions through the flea market app Mercari. Japan’s crypto market is booming with 3.7 million active accounts, but fraud remains a major issue despite strict regulations.

Cryptopolitan2024-10-21 18:48

faq.name

How does Monero work?

Monero (XMR), a top-tier privacy-focused cryptocurrency, prioritizes user anonymity in transactions. Unlike the transparent nature of many blockchain platforms, Monero integrates advanced technologies like Stealth Addresses, Ring Signatures, and RingCT to ensure complete confidentiality, effectively shielding the details of senders, receivers, and transaction amounts. The network further bolsters its privacy stance using the Tor/I2P infrastructure and the Dandelion++ protocol. This makes XMR a fungible cryptocurrency, assuring users and merchants that its tokens are not associated with questionable sources. With rapid transaction speeds and low fees, Monero stands out in the crypto market. It operates on a proof-of-work system, rewarding miners for transaction validation and network security.

What gives Monero value?

Monero's primary appeal is its unparalleled privacy, allowing users to transact without third-party scrutiny, including governments and hackers. XMR coins remain untraceable, preventing blacklisting based on suspected links. Investors may see potential in Monero, anticipating rising demand for privacy to boost XMR's price and market cap.

Is Monero risky?

XMR is currently a moderate risk investment. Traders focused on risk assessment will find the gauge most useful for avoiding (or adding) risky investments.

Why is Monero so Safe?

Monero employs three distinct privacy technologies: ring signatures, ring confidential transactions (RingCT), and stealth addresses. These technologies respectively conceal the sender, amount, and recipient in a transaction. All transactions on the Monero network are mandatorily confidential, ensuring there's no chance of inadvertently sending a public transaction. This unique feature sets Monero apart, allowing users to maintain privacy without relying on third parties.

XMR vs BTC: What is the Difference between Bitcoin and Monero

Monero and Bitcoin both use proof of work for security but differ in several ways. Bitcoin, established in 2009, primarily facilitates faster payments with blockchain, and its limited supply of 21 million coins positions it as a value store for many investors. Meanwhile, Monero emphasizes anonymous transactions. Despite its affordability compared to Bitcoin's higher price, Monero's privacy features restrict its listing on many exchanges, whereas Bitcoin enjoys widespread availability.

Is Monero worth buying?

Monero (XMR), known for its robust privacy features, has historically yielded significant returns due to bullish crypto market trends. However, these very privacy features have led to regulatory hesitations, limiting its presence on key cryptocurrency exchanges and affecting its liquidity. Despite these challenges, with its impressive market cap, Monero stands out as a preferred choice for users valuing anonymity. As adoption grows, especially among enthusiasts seeking secure, anonymous global transactions with minimal fees, XMR's price potential remains promising.

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