What is Monero (ɱ) XMR ?

Monero Official Logo
Monero Official Logo

Monero is an open-source cryptocurrency, that focuses on fungibility, decentralization and offers a high level of anonymity for users and their transactions. Monero is a decentralized peer-to-peer cryptocurrency and characterized as a private digital cash. Monero also has a feature called the ring signature, which obfuscates the sources of funds so that they are virtually untraceable to the parties involved in the transfer. The popularity of Monero has grown, not just for the intent of engaging in illegal activities in the underground market, but also for individuals who simply want to be able to acquire goods and services online anonymously. Monero is designed to be resistant to application-specific integrated circuit mining, which is commonly used to mine other cryptocurrencies. Monero can be mined somewhat efficiently on consumer grade hardware such as x86, x86-64, ARM and GPUs – and so is a favourite of malware-based miners.

Original author – Riccardo Spagni, David Latapie
Programming language of implementation – C++
Initial release
 – 18 April 2014
Development status – Active

Website – getmonero.org

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