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What Is Monero (XMR)? – All you Need to Know about Secure CryptoCurrency in 2018

Monero cryptocurrency

This will provide you details about the leading cryptocurrency i.e. Monero (XMR). If you are an investor or just a curious guy to know about monero, then you can read this article for more information.

All About Monero XMR

Monero was created in April 2014. It is an open source crypto-currency that runs on Windows, macOS, Linux, Android, and FreeBSD. Monero uses a public ledger to record transactions. The new units are created by mining.

Monero cryptocurrency
Monero cryptocurrency

Monero is a leading cryptocurrency aimed to create private and censorship resistant transactions. Yes the word private is more stressed here. In the case of Bitcoin or Ethereum like they have transparent blockchains. Transparent blockchains means that the transactions are easily traceable. The addresses in recieving & sending money can also be used to reveal the person’s real identity.

Monero has come with more secure & private shields to protect people from the above aspects.The addresses & transactions are shielded properly.

Monero transactions are confidential and untraceable

Transactions in Monero are hidden & secure by default. The addresses & transactions are always private. This means that every Monero user has advance privacy & security for the money stocking over other crypto-currencies.

Monero is not traceable from previous or present transactions, this enables the user to transaction without any risk of censorship.

The Kovri Project routes & Encrypt the transactions via I2P Invisible Internet Project nodes. This process hides the IP of Transactor & provided protection against network monitoring.

Monero is a grassroots community attracting the world’s best cryptocurrency researchers and engineering talent

Monero project has been sucessful after the hard work of 240 developers (30 of them were core developers). Forums & chat are always active.

The Research Lab of Monero is still working to make improvements in the privacy and security of this Cryptocurrency.

Monero is not a company but an organization of experts who works on cryptography and distributed systems from all over the world. Monero is also funded by the community donations. This proves that No country can shut down Monero & there are no geographic boundaries on Monero by any Legal procedure.

Monero is electronic cash that allows fast, inexpensive payments to and from anywhere in the world

There is no multiple holding periods & risk of frauds. It is safe from capital controls. These measure can restrict the flow of conventional currencies & the extreme of this can experience economic instability in a country.

That’s it for now. If you find the information useful, then you can write a comment to let us know. Thank You.

Vanshanu raj
Vanshanu Raj is Computer Science Graduate from College of Engineering Roorkee & a Diploma Holder from Government Polytechnic Dehradun. He lives in Dehradun working as a security engineer in a mid sized IT company. I Made this site to to aware people with Open Source Software & their uses.

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