Monero (XMR)
Monero is a privacy-focused cryptocurrency created in 2014 that ensures transactions remain untraceable and unlinkable through advanced cryptographic techniques.
Key Characteristics
- Privacy by Default: All transactions are private
- Fungibility: Each coin is indistinguishable from others
- ASIC Resistance: Mining algorithm designed to resist specialized hardware
- Dynamic Block Size: Adapts to transaction volume
- Tail Emission: Maintains mining incentives through continuous small inflation
Monero uses ring signatures, stealth addresses, and RingCT to provide comprehensive privacy protection.
Core Technology
- Ring Signatures: Hide transaction sources by mixing the spender's input with others
- Stealth Addresses: One-time addresses that prevent public linking of transactions
- RingCT (Ring Confidential Transactions): Conceals transaction amounts
- Bulletproofs: Zero-knowledge proofs that reduce transaction size
- RandomX: CPU-friendly Proof-of-Work algorithm
Key Features
- Complete Privacy: Sender, receiver, and amount are all hidden
- Decentralized Mining: Resistant to mining centralization
- Network Privacy: Compatible with Tor and I2P
- Atomic Swaps: Technology for trustless exchange with other cryptocurrencies
Market Position
Monero maintains its position as the leading privacy cryptocurrency despite regulatory pressure and exchange delistings in some jurisdictions.
Major Developments
- RandomX: 2019 algorithm change to maintain CPU mining advantage
- Bulletproofs: 2018 implementation reducing transaction sizes by 80%
- Tail Emission: Permanent 0.6 XMR per block reward after initial emission
- Atomic Swaps: BTC-XMR swaps introduced in 2021
Challenges
- Regulatory Pressure: Increasing scrutiny from regulators due to privacy features
- Exchange Delistings: Removed from some exchanges due to compliance concerns
- Scalability: Larger transaction sizes than non-private alternatives
- Public Perception: Sometimes associated with illicit activities
Advanced
Example Addresses
- Standard Address (for illustration only, as real addresses vary):
44AFFq5kSiGBoZ4NMDwYtN18obc8AemS33DBLWs3H7otXft3XjrpDtQGv7SqSsaBYBb98uNbr2VBBEt7f2wfn3RVGQBEP3A - Subaddress:
8AC1tjPzEGLSGSvRMuAEAMGs3fAVsmoof5XjRyLdvCCVxXWGHuTw4EbpZ1dcEpVVBEvbVXVRyCGKGiYUsnVA3vimFAYjymX - Integrated Address:
4LL9oSLmtpccfufTMvppY6JwXNouMBzSkbLYfpAV5Usx3skxNgYeYTRj5UzqtReoS44qo9mtmXCqY45DJ852K5Jv2bYXZKKQePHES9khPK
Block Explorers
Key People
- Nicolas van Saberhagen: Pseudonymous author of the CryptoNote whitepaper that Monero is based on
- Riccardo "fluffypony" Spagni: Former lead maintainer (2014-2019)
- Monero Core Team: Decentralized group of developers who maintain the protocol
- Francisco "ArticMine" Cabañas: Major contributor and researcher
- Sarang Noether: Cryptographic researcher who worked on Monero's privacy features