Monero (XMR) is a cryptonight algorithm based alternative crypto currency. The coin is based on Proof of Work and has a block reward that varies smoothly. The difficulty retargets every block with a sixty second block target.
Monero uses a Ring Signature system to protect your privacy, allowing users to make untraceable transactions.
Benefits of Monero Cryptocurrency:
Private: No one can see how much balance you have by looking at the blockchain.
Secure: Irreversible cryptographic math secures Monero transactions and wallets.
Untraceable: Monero coins can’t be traced back on the blockchain due to encryption.
Decentralized: All nodes or wallets are equally eligible to verify Monero coins.
Fungible: All coins have the same market value irrespective of time or place.
When it comes to buying cryptocurrencies, you have plenty of options.
But when it comes to untraceable and anonymous cryptocurrencies, you have very few options.
What is Monero? A Definitive Guide for Beginners
Right now, not all cryptos can offer features of privacy, security, or fungibility at the protocol or fundamental code level. But Monero does, hence making it a very viable choice.
Monero, launched in 2014, is the world’s first private, secure, and untraceable digital currency of the internet.
You can say it is like a more confidential Bitcoin.
But Monero is made from scratch and is not just another clone of Bitcoin’s core code.
Source:www.google.com.co/amp/s/coinsutra.com/monero-cryptocurrency/amp/