Monero (XMR)

cryptocurrency
cryptonight
proof of work
privacy & security
mining
#13

Marketcap Ranking

63.24202 (1.64%) arrow_drop_up

Market Price (24h change)

1,094,877,306

Total Market Cap

3.7

4

info_outline What is Monero

4.5

info_outline

Short Description

General Data and Information. Monero (XMR, formerly BitMonero) is a fork of Bytecoin (on 18th April 2014) that emphasises the obfuscation of private data (like addresses and transaction values) making for a blockchain with a public ledger with open access for broadcasting and writing transactions but with complete privacy for users. Each user can read the portions of the blockchain that relate directly to their own addresses, or can choose to broadcast unobfuscated transactions. The rationale behind the emphasis on privacy is the principle that no outside observer should have the unrestricted right to view a user’s private financial transactions and net worth. This holds true for the current financial system, and Monero aims to recreate this right to privacy in the crypto-currency ecosystem. This privacy is achieved through a combination of enforced privacy, bulletproof zero-knowledge proofs, ring confidential transactions, stealth addresses, ring signatures and ASIC resistance. Milestones

18th April 2014 - Monero blockchain launched. 10th January 2017 - Confidential Transactions and Ring Signatures adopted, known collectively as Ring Confidential Transactions (RingCT). October 2018 - Bulletproofs (zero knowledge proofs) adopted on chain. Utility. Monero (XMR) aims to be fiat currency replacement, a store of value. By implementing privacy features by default, it restores the right to privacy of a user whilst being able to utilize and harness the strengths of a public blockchain, namely resilience, decentralization and censorship resistance. Due to the untraceability of transactions, all Monero coins are essentially fungible as no transaction history can be attached to them, thus making them functionally identical. Further developments include the ability to obfuscate IP addresses to further enhance privacy protections for users. Significant Features

Privacy coin, transaction addresses and amounts are obfuscated by design. Privacy of transactions mimics the use of cash in current economies. Monero is fungible, past transactions can not be traced, thus all coins are indistinguishable from other coins. Open and unrestricted access with no third party middleman for approving transactions. Transactions can be revealed by a user if required. Average blocktime of 2 minutes; Total supply of 18.4 million XMR (then 0.3 XMR per minute forever); Consensus via Proof of Work (CryptoNight). References: .

info_outline

Introduction Video

Basics of Monero | Money Investing University

What is Monero? In this video I will cover the basics of Monero/XMR for beginners. Monero was launched in 2014 and is a currency platform that focuses on privacy and decentraliza ...

info_outline
Screenshot from Website

getmonero.org
XMR Websitemore_vert

Visit Webpage

Website Informationclose

Organization:
Name: REDACTED FOR PRIVACY
Country: [ "IT", "FR" ]
City: Obfuscated whois Gandi-Paris
Zipcode: 75013
Address: Obfuscated whois Gandi-63-65 boulevard Massena
Mail: abuse@support.gandi.net
Creation date: 2014-06-12
Expiration date: 2022-06-12
Nameserver: BETH.NS.CLOUDFLARE.COM

attach_money Product Analysis

4.8

info_outline

Whitepaper

Privacy and anonymity are the most important aspects of electronic cash. Peer-to-peer payments<br /> seek to be concealed from third party’s view, a distinct difference when compared with traditional<br /> banking.


The whitepaper of Monero is 10 Pages long.

The most influencial keywords are: Signatures, Keys, Curve, Ring, Takes, Functions, Points, Monero, Group, and Security.

file_downloadOpen Whitepaper
info_outline

Close Competitors

  • 1.) Bytecoin

    Bytecoin (BCN) is the first cryptocurrency based on the CryptoNote technology with an open source code designed for anonymous cash settlement. BCN protects the user's privacy with impassive and anonymous transactions.

  • 2.) Electroneum

    Electroneum is a new cryptocurrency, made mainly for your mobile, making it easy for you to send, receive and securely trade digital money on your smartphone.

  • 3.) DigitalNote

    DigitalNote XDN is a private cryptocurrency, not a Bitcoin, with anonymous encrypted messaging and blockchain deposits.

info_outline

Product analysis

Monero was founded back in April 2014. Its source code was released publicly on github on April 2014 under the Other license.
Organization wise, Moneros Development is Decentralized and is being developed under the lead of Riccardo Spagni.

The consensus on which the Monero network is run is called POW, while the underlying algorithm is called CryptoNight-V8.
In the current state of Monero currently is Working product

group Community Analysis

4.5

info_outline

Communities & Events

This is the official subreddit of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

view_list r/monero Subreddit
person 162,849 Subscribers
directions_run 686 Active Users
create 15 Daily Posts
speaker_notes 190 Daily Comments
linkOpen Subreddit

https://GetMonero.org
https://reddit.com/r/Monero
https://forum.getmonero.org/8/funding-required

Secure. Private. Untraceable. Fungible.
Ladies and Gentlemen, Welcome to Monero.

Listed in:
@Crypto > @CryptoCurrencies

view_list Monero XMR Channel
person 6,015 Members
directions_run 425 Online
linkOpen in Telegram

Official Twitter account for Monero

view_list @monero Channel
person 319,932 Followers
11.17.2019
11:38
Revuo Monero Weekly Issue #34 https://t.co/coCrCeyYJp 25 favorite
11.16.2019
18:54
Revuo Monero Weekly Issue #33 https://t.co/BJCgtZCVoB 34 favorite
11.12.2019
18:59
U.S. customers of Abra (a crypto wallet and investment app provider) are now able to deposit, withdraw, or trade Monero! https://t.co/TIKK9F8NWa https://t.co/AbrXZLyFr3 65 favorite
11.11.2019
18:52
Services, please be reminded that the scheduled network upgrade takes place in 19 days. https://t.co/wOED7eKFFK 55 favorite
11.09.2019
11:24
CLI v0.15.0.0 'Carbon Chamaeleon' released! https://t.co/AncdvAQRtY Please be reminded that a user, service, merchant, pool operator, or exchange should run this version (v0.15) in order to be sufficiently prepared for the scheduled protocol upgrade of November 30. 129 favorite
11.04.2019
18:12
Both CLI and GUI v0.15.0.0 'Carbon Chamaeleon' have been tagged! Release binaries will be available soon. https://t.co/YaEiSqz76p In order to be sufficiently prepared for the upcoming scheduled network upgrade, participants of the Monero ecosystem ought to run this version. 83 favorite
11.03.2019
19:07
Revuo Monero Weekly Issue #32 https://t.co/QRyOuCCOW4 52 favorite
10.26.2019
15:07
Revuo Monero Weekly Issue #31 https://t.co/GNkuM4DL7c 53 favorite
10.25.2019
18:14
ICYMI: A message regarding the scheduled protocol upgrade of November 30 (and corresponding v0.15 release) was put on the mailing list! https://t.co/kxu9mwhunU Make sure to subscribe in order to not miss out on any important updates. 38 favorite
10.23.2019
21:06
Advisory note for users making use of subaddresses. https://t.co/XxLmbCTQVZ 38 favorite
Name Date Description
Protocol Upgrade 11.30.2019 "Preliminary information thread regarding the scheduled protocol upgrade of November 30."
info_outline

Google Trends Analysis


The Google Trends chart displays the search interest on google in Monero relative to its peak over the last year. A rising chart shows growing interest int he project.

code Development Analysis

2.9

info_outline

Github Analysis

Code Updates (Commits)


Every change to the codebase of Monero is registered as a commit. More active projects have many commits, dead projects nearly none.

Code line changes (+/-)


Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.

Programming languages

Repository Numbers

star 4,104 Stars
remove_red_eye 446 Watchers
usb 2,152 Forks
sync_problem 322 Open Issues
border_color 0 Comment Coverage
lock_open Other License

attach_money Price Analysis

3.7

info_outline

Price Prediction

$ 61.85149 (-0.97%) arrow_drop_down

Predicted USD Market Price in 24h

$ 65.49236 (4.85%) arrow_drop_up

Predicted USD Market Price in 14d

info_outline

Converter XMR - USD

Convert between XMR and USD with the live Monero prices, aggregated from all big exchanges that trade Monero.


info_outline

Market insights

Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.

account_circle Team Analysis

4.6

info_outline

Team

Lead

Unknown -
It is not exactly clear who is the main driving force behind Monero.


supervisor_accountSocial Network Links

Members (7)

launch

Francisco Cabañas

Core developer

launch

smooth

Core developer

tacotime

Core developer

launch

luigi1111

Core developer

launch

NoodleDoodle

Core developer

launch

BinaryFate

Core developer

remove_red_eye Product Review by Coinpaper

3.9

How things stand

info_outline

In May 2017 the main developer Riccardo Spagni (fluffypony) spread a fake announcement about something “really big” to happen after the next team meeting. The price of Monero almost doubled. A few hours before the team meeting, he wrote on Twitter that he did this to provoke speculators. Before he put this text on Twitter, the price of Monero plummeted to the old price due to high sell orders. [1] [2]
Monero has been in the news multiple times:
When the wife of a Norwegian multi-millionaire ($200 Million) was kidnapped in January 2019 the kidnappers wanted the ransom money ($10 Million) in Monero. [3]
The illegal platform for drugs, stolen data, fake documents called “The Wall Street Market” was closed by the German Federal Criminal Police Office (BKA) and they seized a six-figure sum ($600'000) of Monero. The cryptocurrencies Bitcoin and Monero were reportedly preferred payment methods on "The Wall Street Market". [4]
Early 2018, during the holiday season stars such as Mariah Carey, Sia, Backstreet Boys and 42 more started accepting Monero as a payment form. This option has only been available temporarily. [5]

2.0

info_outline

The Monero developers are currently trying to implement ASIC resistance to decentralize the coins hash rate more. ASICs (Application Specific Integrated Circuits) are small machines, that are good at processing one thing. These are often used by miners and some big companies invested a lot of money to buy this ASICs. Monero developers are against this centralization by large companies and try to make the coin ASIC resistant. While doing that, they will implement a new algorithm that only they know at the beginning. This information can be misused by the Monero developers to mine more coins at the beginning and centralize mining as other miners need to adjust their solving algorithms. [1]

4.3

Product description

info_outline

When a user buys a coffee and pays with Bitcoin then it’s wallet address is known to the seller and it’s known how many Bitcoin this user’s wallet contains.
Monero is a cryptocurrency with the intention to make the user completely anonymous. It’s neither possible to find out the balance of a Monero wallet nor the transactions that were made by a Monero wallet. [1]

5.0

info_outline

The goal wasn’t to create a Monero platform, but to develop a coin that enables real anonymity for its users. The anonymous transfers do work.
The first Monero protocol enabled private transactions. Whenever a user made a transaction, the amount that should be sent was split into multiple transactions and there would be dummy transactions included to obfuscate the real transaction. Only the sender and the receiver could see which transactions were valid, but other people could still analyze the amounts and might conclude how much was sent. In January 2017 Monero implemented the RingCT which hides the sent amounts. This made it unnecessary to split the amounts. Monero later implemented Kovri which hides the traffic by rerouting users through I2P nodes. This hides users IP addresses, which could’ve been tracked before. [1] [2]

5.0

info_outline

There were 7 founders of the Monero cryptocurrency. Five of them remained secret and the other two are Riccardo Spagni and David Latapie. Riccardo Spagni is now the main developer and he’s known by the nickname “Fluffypony”. [1]

3.0

Pro-Contra

info_outline
Security Relatively high. The coin has been around for a while.
Adoption The coin has a high acceptance rate compared to other cryptocurrencies.
Decentralization The coin is fully decentralized.
Product availability The product is already available.
Exchange availability The coin is available on the major trusted exchanges.
Privacy Transactions with this coin are fully anonymous.
info_outline
Transactions per second It can handle much less transactions per second compared to other cryptocurrencies.
Transaction speed The transaction speed is much lower compared to other cryptocurrencies.
Transaction cost The transaction fees are much higher compared to other cryptocurrencies.
Enery consumption The energy consumption is high compared to other cryptocurrencies.

remove_red_eye Market Review by Coinpaper

4.2

Foresight

info_outline

The developing team is on a good way to create a more robust and better coin. Privacy and anonymity are important, because people don’t want others to know how much money they have.
Monero is the pioneer of private cryptocurrencies, but with that they still have big obstacles to overcome. There will be debates about legal aspects as Monero might be used for fraudulent behaviour and regulations could potentially break Moneros neck.

4.0

info_outline

Moneros goal is to create the so-called Bulletproof protocol with the intention to reduce the required data per transaction.

4.5

info_outline

The potential for Monero is huge, if the public need for an anonymous cryptocurrency rises.

4.8

Business

info_outline

Monero is the best-known cryptocurrency for anonymity, but there are other cryptocurrencies that offer private transactions like zCash.

4.5

info_outline

During the holidays early 2018 45 stars accepted Monero as a payment for their merchandises. [1]

4.0

info_outline

The acceptance by the stars accepting Monero as a payment was orchestrated and crowdfunded by the Monero community.

4.4

info_outline

Riccardo Spagni (fluffypony) is a very good developer, but there occurred shady behaviour such as the fake announcement that was made. [1] [2]

3.5

compare_arrows Exchanges

Markets

info_outline
# Exchange Pair Price 24h Volume Trusted
# 1 Binance XMR/BTC $ 63.00045 $ 5,092,037 check
# 2 Binance XMR/USDT $ 63.06421 $ 2,980,338 check
# 3 Bittrex XMR/BTC $ 63.12250 $ 655,034 check
# 4 Poloniex XMR/BTC $ 63.06999 $ 278,312 check
# 5 Binance XMR/BNB $ 63.02551 $ 273,659 check
# 6 Kraken XMR/USD $ 62.02000 $ 122,082 check
# 7 Binance XMR/ETH $ 63.05812 $ 111,669 check
# 8 Bitfinex XMR/BTC $ 62.99349 $ 57,651 check
# 9 Bitfinex XMR/USD $ 62.18300 $ 55,137 check
# 10 Kraken XMR/EUR $ 61.95283 $ 48,915 check

add
info_outline

Fast Scroll

Jump to specific section