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Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses on privacy, decentralization and scalability that runs on Windows, Mac, Linux, Android, and FreeBSD.[2][3] Monero was originally launched under the name BitMonero, which is a compound of Bit (as in Bitcoin) and Monero (literally meaning "coin" in Esperanto). Five days later, the community opted for the name to be shortened to just Monero.[4]

Monero
Monero-Logo.svg
Monero Logo
ISO 4217
Code XMR[1]
Denominations
Plural Monero, moneroj
Symbol ɱ
Demographics
Date of introduction 18 April 2014; 3 years ago (2014-04-18)
User(s) Worldwide

Unlike many cryptocurrencies that are derivatives of Bitcoin, Monero is based on the CryptoNote protocol and possesses significant algorithmic differences relating to blockchain obfuscation.[5][6]

On September 2014, Monero recovered from an unusual and novel attack executed against the cryptocurrency network.[7]

Monero experienced rapid growth in market capitalization and transaction volume during the year 2016, partly due to adoption in 2016 by major darknet market AlphaBay[8], which closed in July 2017 by law enforcement.[9]

On January 10, 2017, the privacy of Monero transactions were further strengthened by the adoption of Bitcoin Core developer Gregory Maxwell's algorithm Confidential Transactions, hiding the amounts being transacted, in combination with an improved version of Ring Signatures.[10]

See alsoEdit

ReferencesEdit

  1. ^ "Monero (XMR) Price Chart, Market Cap, Index and News". Investing.com. Retrieved 9 August 2017. 
  2. ^ Latapie, David. "What's so special about Monero". Getmonero.org. Retrieved 19 March 2015. 
  3. ^ Gallagher, Sean (4 August 2017). "Researchers say WannaCry operator moved bitcoins to “untraceable” Monero". Ars Technica. 
  4. ^ "Drugs, Code and ICOs: Monero's Long Road to Blockchain Respect". CoinDesk. Retrieved 18 September 2017. 
  5. ^ "Drugs, Code and ICOs: Monero's Long Road to Blockchain Respect". CoinDesk. Retrieved 18 September 2017. 
  6. ^ "Bitcoin and the Rise of the Cypherpunks". CoinDesk. Retrieved 18 September 2017. 
  7. ^ Macheta, Jan; Noether, Surae; Noether, Sarang; Smooth, Javier (12 September 2014). "MRL-0002: Counterfeiting via Merkle Tree Exploits within Virtual Currencies Employing the CryptoNote Protocol" (PDF). Monero Research Labs. 
  8. ^ Greenberg, Andy (25 January 2017). "Monero, the Drug Dealer's Cryptocurrency of Choice, Is on Fire". Wired. 
  9. ^ Popper, Nathaniel; Ruiz, Rebecca R. (20 July 2017). "2 Leading Online Black Markets Are Shut Down by Authorities". The New York Times. 
  10. ^ "Increased Hashrate Forces Premature Monero Hard Fork". CoinDesk. Retrieved 18 September 2017. 

External linksEdit