MONERO [XMR]

What Is Monero [XMR]

Monero (XMR) is an open-source cryptocurrency created on April 2014 focusing on fungibility, privacy and decentralization.

Monero uses an obfuscated public ledger, meaning anybody can broadcast or send transactions, but no outside observer can tell the source, amount or destination.

Monero uses the Proof of Work [PoW] mechanism to issue new coins and incentivize miners to secure the network and validate transactions.

Monero through it’s ring signature technology are what attracts many users seeking financial privacy and anonymity, transactions and account balances remain entirely hidden.

Unlike many cryptocurrencies that are forks or derivatives of Bitcoin, Monero is based on the CryptoNight proof-of-work hash algorithm, which comes from the CryptoNote protocol.

The CryptoNote protocol possesses significant algorithmic differences relating to blockchain obfuscation.  Through ring signatures that scramble a single transaction with a group of others, it makes it very difficult and almost impossible to establish a link between each subsequent transaction.

Additionally, “stealth addresses” generated for each transaction make it impossible to discover the actual destination address of a transaction by anyone else other than the sender and the receiver, additionally, the “ring confidential transactions” mechanism hides the transferred amount.

Lastly, Monero is designed to be resistant to ASIC mining, ASIC or (application-specific integrated circuit) is a form of hardware or integrated circuit commonly used to mine other cryptocurrencies such as Bitcoin.

Who Created Monero [XMR]

In 2014, Riccardo Spagni also known as “Fluffy Pony” discovered Monero just before the launch. The Monero white paper was written by someone using the pseudonym Nicholas Van Saberhagen. Right after they wrote the white paper they disappeared, similar to Satoshi Nakamoto.

After forking the blockchain, Spagni and the other six core developers continued to maintain the code and eventually began to add new features. This group of seven became known as the Monero Core Team. Spagni is also the Lead Maintainer of Monero. Since 2014, Monero has grown significantly becoming the top privacy cryptocurrency and the 13th largest cryptocurrency by market cap as of February 2019 with a market cap of $840 million.

How Do I Exchange Monero [XMR]

XMR is the one and only ticker symbol for the Monero cryptocurrency. This ticker identifies as Monero currency and is used to be exchanged as an entity for another entity such as bitcoin.

To exchange Monero [XMR] follow these instructions:

  • Create an exchange account to transfer your funds to any of Monero exchanges.
  • The easiest way to acquire your first Monero is to purchase them on an exchange.
  • Typically you will need to use your fiat currency to purchase Bitcoin first and then trade Bitcoin for Monero on exchanges.
  • Exchange pairings may be different on exchange resources.
  • Use only trusted services.

How Monero [XMR] Wallet Works

A Monero wallet is required to secure your own funds. See the Downloads page for a listing of available wallets.

Specifications

Proof of Work: CryptoNight [May change in the future]

Difficulty Retarget: Every block based on the last 720 blocks, excluding 20% of the timestamp outliers

Block Time: 2 minutes [May change in the future as long as emission curve is preserved]

Block Reward:Smoothly decreasing and subject to penalties for blocks greater than median size of the last 100 blocks (M100) [See the latest block coinbase transaction amount for current reward]

Block Size: Dynamic, maximum of 2 * M100

Emission Curve

First, main curve: ~18.132 million coins by the end of May 2022 then, tail curve: 0.6 XMR per 2-minute block, kicks in once main emission is done, translates to <1% inflation decreasing over time. See charts and details

Max Supply: Infinite

Sender Privacy: Ring Signatures

Recipient Privacy: Stealth Addresses

Amount Obfuscation: Ring Confidential Transactions

Wallets

The Monero community has funded a Dedicated Hardware Wallet which is now in progress. Moreover, since CLI 0.12.1 and GUI 0.12.3 Ledger has integrated Monero into their hardware wallets. Also see https://web.getmonero.org/downloads

Exchanges

EXCHANGE PAIR PRICE [USD] PRICE VOLUME ACTIONS
Bithumb XMR/KRW $ 96.47 114.40K KRW $ 266.06M TRADE
Huobi Global XMR/USDT $ 98.18 97.17 USDT $ 12.64M TRADE
HitBTC XMR/BTC $ 97.11 0.01053700 BTC $ 8.55M TRADE
Bitalong XMR/BTC $ 97.11 0.01053728 BTC $ 6.07M TRADE
Digifinex XMR/USDT $ 98.26 97.25 USDT $ 5.92M TRADE
HitBTC XMR/ETH $ 97.94 0.360762 ETH $ 4.83M TRADE
Huobi Global XMR/BTC $ 97.04 0.01052900 BTC $ 4.49M TRADE
HitBTC XMR/USDT $ 98.35 97.34 USDT $ 3.81M TRADE
Digifinex XMR/BTC $ 97.09 0.01053500 BTC $ 3.76M TRADE
Exrates XMR/BTC $ 97.06 0.01053209 BTC $ 3.00M TRADE
Coinbene XMR/BTC $ 97.03 0.01052800 BTC $ 1.80M TRADE
Huobi Global XMR/ETH $ 97.67 0.359758 ETH $ 1.29M TRADE
Instant Bitex XMR/BTC $ 98.51 0.01068888 BTC $ 1.12M TRADE
Bitfinex XMR/USD $ 97.80 97.80 USD $ 850.78K TRADE
CoinEx XMR/USDT $ 98.14 97.13 USDT $ 842.95K TRADE
CoinEx XMR/BTC $ 96.68 0.01048994 BTC $ 767.35K TRADE
QBTC XMR/CNYT $ 97.56 675.06 CNYT $ 751.45K TRADE
Digifinex XMR/ETH $ 97.55 0.359330 ETH $ 632.06K TRADE
Bitfinex XMR/BTC $ 97.03 0.01052800 BTC $ 518.85K TRADE
Poloniex XMR/USDT $ 99.05 98.03 USDT $ 517.75K TRADE
Kraken XMR/BTC $ 97.44 0.01057300 BTC $ 449.94K TRADE
Kraken XMR/USD $ 98.18 98.18 USD $ 410.33K TRADE
Kraken XMR/EUR $ 97.35 86.81 EUR $ 390.73K TRADE
Bitalong XMR/USDT $ 98.07 97.07 USDT $ 370.48K TRADE
Bittrex XMR/BTC $ 97.43 0.01057140 BTC $ 370.07K TRADE
UPbit XMR/BTC $ 97.43 0.01057140 BTC $ 370.07K TRADE
Poloniex XMR/BTC $ 97.20 0.01054710 BTC $ 300.92K TRADE
Exrates XMR/USD $ 97.57 97.57 USD $ 217.64K TRADE
Monfex XMR/USD $ 97.84 97.84 USD $ 118.91K TRADE
Livecoin XMR/BTC $ 50.62 0.00549286 BTC $ 61.58K TRADE
UPbit XMR/KRW $ 97.99 116.20K KRW $ 99.55K TRADE
Exmo XMR/BTC $ 96.99 0.01052435 BTC $ 96.34K TRADE
OKEx XMR/USDT $ 98.41 97.40 USDT $ 95.52K TRADE
IncoreX XMR/USD $ 97.60 97.60 USD $ 91.96K TRADE
Exmo XMR/USD $ 95.53 95.53 USD $ 79.77K TRADE
gate.io XMR/USDT $ 98.06 97.05 USDT $ 76.02K TRADE
Kucoin XMR/BTC $ 97.02 0.01052700 BTC $ 74.30K TRADE
Exmo XMR/ETH $ 97.95 0.360771 ETH $ 64.14K TRADE
Kucoin XMR/ETH $ 97.81 0.360260 ETH $ 56.38K TRADE
Huobi XMR/USDT $ 98.18 97.17 USDT $ 53.35K TRADE
Huobi XMR/BTC $ 97.05 0.01053000 BTC $ 51.11K TRADE
Livecoin XMR/USD $ 50.69 50.69 USD $ 26.50K TRADE
Tokens.net XMR/USDT $ 99.25 98.23 USDT $ 29.38K TRADE
ZB.com XMR/QC $ 97.96 674.51 QC $ 27.95K TRADE
Waves Decentralized Exchange XMR/WAVES $ 105.49 39.97 WAVES $ 28.70K TRADE
BitLux OTC XMR/USD $ 97.34 97.34 USD $ 23.95K TRADE
CREX24 XMR/BTC $ 96.77 0.01050000 BTC $ 23.65K TRADE
Worldcore XMR/USDT $ 98.35 97.34 USDT $ 21.93K TRADE
Bittrex XMR/USDT $ 99.47 98.45 USDT $ 21.70K TRADE
UPbit XMR/USDT $ 99.47 98.45 USDT $ 21.70K TRADE
Worldcore XMR/BTC $ 96.97 0.01052200 BTC $ 19.22K TRADE
Waves Decentralized Exchange XMR/WBTC $ 104.29 0.010548 WBTC $ 18.75K TRADE
Worldcore XMR/ETH $ 97.57 0.359405 ETH $ 16.52K TRADE
Tradeogre XMR/BTC $ 95.43 0.01035505 BTC $ 14.59K TRADE
Huobi XMR/ETH $ 97.62 0.359566 ETH $ 14.75K TRADE
Coinbe XMR/BTC $ 97.93 0.01062585 BTC $ 12.64K TRADE
OKEx XMR/BTC $ 96.77 0.01050000 BTC $ 11.41K TRADE
Bittrex XMR/ETH $ 97.40 0.358758 ETH $ 9,963.01 TRADE
UPbit XMR/ETH $ 97.40 0.358758 ETH $ 9,963.01 TRADE
OKEx XMR/ETH $ 97.74 0.360000 ETH $ 9,466.31 TRADE
Exmo XMR/EUR $ 101.23 90.27 EUR $ 7,611.38 TRADE
Bitci XMR/CHFT $ 96.88 98.51 CHFT $ 6,684.10 TRADE
Koineks XMR/TRY $ 4.93 570.00 TRY $ 323.39 TRADE
SouthXchange XMR/BTC $ 101.85 0.01105089 BTC $ 6,570.17 TRADE
Waves Decentralized Exchange XMR/WETH $ 90.62 0.361412 WETH $ 5,345.24 TRADE
SouthXchange XMR/USD $ 57.85 57.85 USD $ 2,404.20 TRADE
CoinDeal XMR/BTC $ 97.63 0.01059392 BTC $ 2,425.03 TRADE
CryptoBridge XMR/BTC $ 97.71 0.01060199 BTC $ 2,066.63 TRADE
gate.io XMR/BTC $ 96.73 0.01049594 BTC $ 1,625.07 TRADE
ZB.com XMR/USDT $ 98.01 97.00 USDT $ 876.29 TRADE
CoinAll XMR/BTC $ 96.77 0.01050000 BTC $ 662.13 TRADE
Bitci XMR/BTC $ 96.84 0.01050717 BTC $ 662.39 TRADE
Bitci XMR/TRY_currency $ 97.82 578.82 TRY_currency $ 665.18 TRADE
CREX24 XMR/ETH $ 98.31 0.362100 ETH $ 616.64 TRADE
OpenLedger DEX XMR/BTS $ 96.33 1,503.23 BTS $ 400.34 TRADE
OpenLedger DEX XMR/BTC $ 97.74 0.01060491 BTC $ 398.05 TRADE
Braziliex XMR/BRL $ 96.77 377.00 BRL $ 184.15 TRADE
Tokens.net XMR/BTC $ 97.64 0.01059466 BTC $ 162.23 TRADE
Graviex XMR/BTC $ 102.39 0.01111001 BTC $ 79.34 TRADE
STEX XMR/BTC $ 104.14 0.01129999 BTC $ 42.78 TRADE
Waves Decentralized Exchange XMR/WUSD $ 105.29 96.99 WUSD $ 26.39 TRADE
Trade Satoshi XMR/LTC $ 90.26 0.670886 LTC $ 8.55 TRADE
Trade Satoshi XMR/BTC $ 97.04 0.01052921 BTC $ 5.70 TRADE
Altilly XMR/BTC $ 99.46 0.01079200 BTC $ 5.00 TRADE
Trade Satoshi XMR/USDT $ 84.96 84.09 USDT $ 0.101843 TRADE
Trade Satoshi XMR/DOGE $ 90.64 28.53K DOGE $ 0.003811 TRADE
OpenLedger DEX XMR/BITCNY $ 43.71 300.30 BITCNY $ 0.00 TRADE
OpenLedger DEX XMR/BITUSD $ 91.65 90.01 BITUSD $ 0.00 TRADE
OpenLedger DEX XMR/ETH $ 97.42 0.358835 ETH $ 0.00 TRADE
Mercatox XMR/BTC $ 4,644.52 0.50395733 BTC $ 0.00 TRADE
Bitlish XMR/BTC $ 95.85 0.01040000 BTC $ 0.00 TRADE
Bitlish XMR/EUR $ 87.81 78.30 EUR $ 0.00 TRADE
Cryptomate XMR/GBP $ 134.15 106.52 GBP $ 0.00 TRADE
Cobinhood XMR/BTC $ 0.00 0.00 BTC $ 0.00 TRADE
Braziliex XMR/BTC $ 93.08 0.01010010 BTC $ 0.00 TRADE
Altilly XMR/USDT $ 65.67 65.00 USDT $ 0.00 TRADE
Liquid XMR/BTC $ 95.02 0.01031025 BTC $ 0.00 TRADE
Omoxie XMR/BTC $ 0.00 0.00 BTC $ 0.00 TRADE
Omoxie XMR/EUR $ 0.00 0.00 EUR $ 0.00 TRADE
Omoxie XMR/USD $ 0.00 0.00 USD $ 0.00 TRADE
Xenia XMR/BTC $ 0.00 0.00 BTC $ 0.00 TRADE
Xenia XMR/ETH $ 0.00 0.00 ETH $ 0.00 TRADE
Xenia XMR/XEN2 $ 0.00 0.00 XEN2 $ 0.00 TRADE
Xenia XMR/XRP $ 0.00 0.00 XRP $ 0.00 TRADE
Cryptex XMR/BTC $ 829.45 0.09000000 BTC $ 0.00 TRAD

Exchange data as of 06.17.2019

Block Explorers

Running a Full Node

https://www.monero.how/how-to-run-monero-node

Mining

https://howtomine.com/monero

Support the Network

Monero is an open-source, community-driven project. Described below are several ways to support the project.

Develop

Monero is primarily written in C++. As it is a decentralized project, anyone is welcome to add or make changes to existing code. Pull requests are merged based on community consensus. See the repositories and outstanding issues.

Run a Full Node

Run monerod with port 18080 open. Running a full node ensures maximum privacy when transacting with Monero. It also improves distribution of the blockchain to new users.

Mine

Mining ensures the Monero network remains decentralized and secure. In the Monero graphical user interface and command-line interface, background mining may be activated. Additional resources for mining may be viewed here.

View the Forum Funding System

Monero utilizes a forum funding system whereby projects are proposed for development and community-funded. Funding is held in escrow and remunerated to developers once programming milestones are achieved. Anyone may generate new proposals or fund existing ones.

Author: BitRebel

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