Cryptocurrencies: 2068 / Markets: 14155 Market Cap: 24h Vol:
Monero (XMR) Rank 10
$123.035426
Monero (XMR) Rank 10
Website Reddit Twitter
16,432,228 XMR

Monero (XMR)
Monero (XMR)
XMR

Monero (XMR) Price
$123.04

Monero (XMR) 24h Vol
$53,986,372

Monero (XMR) Market Cap
$2,021,746,137

Monero (XMR) Circulating
16,432,228

Full Name
Monero (XMR)
Symbol
XMR
Algorithm
CryptoNight-V7
BTC Price
0.018331787500 BTC
BTC Market
301,232 BTC
BTC 24h Vol
8,044 BTC
Total Coins Mined
16,432,228 XMR
1h
0.25 %
24h
0.4 %
7d
4.08 %

Charts



Description

Description


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.

Full Name Monero (XMR)
Start Date 2014-02-06
Algorithm CryptoNight-V7
Proof Type PoW
Website http://getmonero.org/
Twitter @monero
Facebook https://www.facebook.com/monerocurrency/
Reddit https://www.reddit.com/r/monero/
Block Number 1626649
Block Time 120
Block Reward 4
Total Coins Mined 16,432,228 XMR
Previous Total Coins Mined N/A
Net Hashes Per Second 478,685,885.94 H/s
Technology

Technology


Ring Signature 

The Basics

In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members' keys was used to produce the signature.

For instance, a ring signature could be used to provide an anonymous signature from "a high-ranking White House official", without revealing which official signed the message. Ring signatures are right for this application because the anonymity of a ring signature cannot be revoked, and because the group for a ring signature can be improvised (requires no prior setup).

 

Application to Monero

A ring signature makes use of your account keys and a number of public keys (also known as outputs) pulled from the blockchain using a triangular distribution method. Over the course of time, past outputs could be used multiple times to form possible signer participants. In a "ring" of possible signers, all ring members are equal and valid. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. So, ring signatures ensure that transaction outputs are untraceable. Moreover, there are no fungibility issues with Monero given that every transaction output has plausible deniability (e.g. the network can not tell which outputs are spent or unspent).

To read how Monero gives you privacy by default (unlinkability), see stealth addresses.

Features

Features


  • Privacy (Untraceable payments, Unlinkable transactions)
    Monero daemon uses the original CryptoNote protocol except for the initial changes (as the block time and emission speed). The protocol itself is based on ring signatures (Daniel J. Bernstein's Curve25519 + Ed25519, Schnorr signatures on a Twisted Edwards curve) and stealth addresses. The end result is passive, decentralised mixing based on heavily-tested algorithms.
  • Decentralisation
    The smart mining[20] forthcoming feature will allow transparent CPU mining on the user's computer, far from the de facto centralization of mining farms and pool mining, pursuing Satoshi Nakamoto's original vision of a true p2p currency.
  • Scalability
    Monero has no hardcoded limit, which means it doesn't have a 1 MB block size limitation preventing scalability.