Monero (XMR)
Monero (XMR) is a cryptocurrency that was created in April 2014 as a fork of Bytecoin. It is an open-source, privacy-oriented cryptocurrency that is built on the CryptoNote protocol. Monero is designed to be a secure, private, and untraceable digital currency. It uses a proof-of-work consensus mechanism to secure the network and enable individuals to control their own funds.
History of Monero
Monero was created as a result of a hard fork of the Bytecoin blockchain in April 2014. The developers of Monero wanted to create a cryptocurrency that was more secure and private than other cryptocurrencies. Monero was designed to be a fungible and untraceable digital currency. It uses a proof-of-work consensus mechanism to secure the network and enable individuals to control their own funds.
Monero has seen significant growth since its launch. It has become one of the top 10 cryptocurrencies by market capitalization and is one of the most popular privacy coins. Monero has been adopted by a number of merchants and services, and it is also used by darknet markets.
Comparison Table
| Cryptocurrency | Market Cap | Circulating Supply |
|---|---|---|
| Monero (XMR) | $2.2B | 17.7M |
| Bitcoin (BTC) | $183.2B | 18.4M |
| Ethereum (ETH) | $48.2B | 114.5M |
Summary
Monero (XMR) is a privacy-oriented cryptocurrency that was created in April 2014 as a fork of Bytecoin. It is designed to be a secure, private, and untraceable digital currency. Monero has seen significant growth since its launch and is now one of the top 10 cryptocurrencies by market capitalization. For more information about Monero, you can visit the official website at https://getmonero.org/.
See Also
- Cryptocurrency
- Blockchain
- Proof-of-Work
- CryptoNote
- Bytecoin
- Bitcoin
- Ethereum
- Darknet Markets
- Fungibility
- Privacy Coins
